P.S. Have you seen the stock market is on fire, corporate profits have never been better, inflation is down dramatically, and the unemployment rate is the lowest it’s been in decades?
For anyone still trying to make up their minds about the 2024 presidential election, here are some thoughts about the issue of the economy. Some people are wearing rose-colored glasses and are fondly looking backward toward Trump’s first term. Coming out of the pandemic, there’s a bit of amnesia about how things were and how they unfolded. A lot of people, understandably, have pre-pandemic nostalgia. Yes, the economy was doing alright, but not any better than it is now. It certainly wasn’t because of any economic genius moves from Trump or his gang that couldn’t shoot straight. The economy he inherited in January of 2017 was a strong one. Many people have forgotten about all of Trump’s chaos, lack of leadership, and terrible policies. Let’s do a little rewind.
Let’s remember how we ended up with rising inflation in 2021-2022 in the first place. Trump’s playing down and bungling of the pandemic early on, his constant mixed messaging, and his gross mismanagement throughout 2020 made the health crisis much worse. There’s plenty of video footage of his idiotic statements we can all review to help jog the memory. There was the “China is doing a great job” line at the beginning, the “it will all just go away” moment, and who can forget his moronic suggestion that we could ingest some bleach to help fight the virus. And people are actually thinking about voting for this guy again.
The economy suffered much more than it should have because of a lack of resolute leadership. However, Trump did the right thing by signing two Covid-relief government stimulus bills into law to the tune of 3.1 trillion dollars. However costly it was, inaction would have been much more expensive. People have forgotten that Trump’s actions significantly contributed to rising inflation during the following years. There were other factors, of course. Supply chain issues, documented corporate greed and price-gouging, Biden-era COVID relief bills, and the Federal Reserve taking too long to raise the interest rates all combined to cause an unprecedented rise in the inflation rate.
So, inflation was not the Biden administration’s fault. There were many factors. I’m sure all the Republicans who are presently complaining about inflation would gladly hand back over the hundreds of billions of dollars in PPP money they were given by the government that contributed to inflation. Hell no, they wouldn’t. But they won’t hesitate to whine and moan about the inflationary results of all of that stimulus they benefited from.
Under the Biden-Harris Administration, we have the lowest unemployment rate in decades, businesses are booming, corporate profits are through the roof, and the stock market is on fire. The only thing Trump really did while President was give out massive tax cuts for the ultra-rich and run up the national debt more than any President in history—a fact. Now, let’s highlight the idiotic and dangerous things Trump plans to do if he gets back into the White House.
- He plans to impose huge tariffs, which would be nothing more than a massive tax on American consumers. He loves tariffs, he’ll tell you.
- He is planning to order massive violent roundups and deportations of millions of undocumented people working in the restaurant, landscaping, hotel, and construction industries. Besides logistical challenges and human rights issues tearing apart millions of families working and going to school here, do you realize the economic upheaval it will cause American businesses? It’s nuts and completely impractical.
- 3) He’ll bring back his policy of crony capitalism, where he threatens and undercuts any CEOs or companies that aren’t praising him enough and doing exactly what he wants them to do. So much for the free market and respecting the principle of not picking winners and losers. When one wrong sentence doesn’t please authoritarian Dear Leader Trump, he calls for a boycott of that company on X. He did it constantly in his first term, and it would undoubtedly be out of control for the second term.
On top of that, Donald Trump is a fundamental threat to the future of our democracy. Without a stable democracy and a functional government that ensures peoples’ rights to peacefully disagree with the country’s leader and his supporters, we’re in a real pickle, people. The economy is not going to thrive under an intolerant regime. I’m sorry, folks, election denialism and trying to overthrow an election (what Trump and his MAGA supporters tried to pull in 2020), calling for violence and using the military on American citizens, and a general shift to authoritarianism is not a good recipe for healthy capitalism and a stable business environment. Without the peaceful transition of power, it’s a moot point trying to discuss and debate all the issues facing our country. Despite the attempts to whitewash the events surrounding Jan. 6, the fact remains Trump refused to concede the election, which he definitively lost, orchestrated a fake electors scheme and pressure campaign, and incited a violent mob in an attempt to interrupt the certification of the election. In the end, power was transferred, but it was not peaceful.
And let’s be honest about Donald Trump: this guy inherited hundreds of millions of dollars from his daddy, blew it all, and is the king of bankrupting businesses. I’m sorry, Republicans, but isn’t some rich jerk declaring bankruptcy constantly, kind of like asking for student loan forgiveness? Aren’t they both forgiving a debt? And we know how you feel about that last one. The truth is Trump is a terrible businessman who has lied, blustered, cheated, and exploited people to get to where he is. Most executives have a code of conduct; Trump does not. He doesn’t have an ethical bone in his body. Is that who we want representing us as the leader of the free world? God help us. Trump got lucky with one successful reality TV show he parlayed into a presidential run. He hit the jackpot in 2016, riding a populist wave capitalizing on many people’s hate and resentment over a demographically-evolving America. But besides catching lightning in the bottle that once, Trump has been a loser ever since. And don’t forget, he got beat handily in the popular vote in 2016, which matters because he’s never had a mandate to govern. He got smoked in the popular vote and the Electoral College in 2020 by Joe Biden, and regardless of whether he somehow squeaks out an Electoral College win this year, he will most definitely get crushed again in the popular vote. That matters because the Electoral College is a joke and nothing more than an Affirmative Action mechanism and a crutch for a Republican party that’s received fewer votes in five of the last six elections. The Electoral College is an antiquated concept and should be done away with. Trump loses much more often than he wins.
Donald Trump talked a good game and made big promises to stop illegal immigration and bring back American manufacturing. He did neither. For Donald, it’s always been about smoke and mirrors and putting on a show. Bluster and bullshit. As they say in Texas, Trump is all hat no cattle: a phony and a fraud of the highest order. The Trump organization that he runs with his sons was recently convicted of tax evasion, and now Trump himself is a convicted felon for committing bank fraud. We wouldn’t trust him to operate a fast food window, stock a grocery aisle, or drive our kid’s school bus; all important jobs, by the way. So why would we put him in charge of running the country again? It seems insane, doesn’t it?
Trump doesn’t care about people, and he certainly doesn’t care about your financial well-being. He cares about regaining power so he can stay out of jail, the country be damned. He cares about how much money he can grift off everyday Americans and how much he can overcharge taxpayers for the Secret Service to stay at his golf course. It’s the Big Swindle. He excels at it, and he’s been doing it his whole life. When it comes to the economy, unless you are an authoritarian-fascinated, fat-cat billionaire like Elon Musk groveling for your next big tax cut, casting a vote for Donald Trump is a losing bet. The only person Donald Trump is going to help is himself.