Send a Tweet
Most Popular Choices
Share on Facebook 6 Share on Twitter 1 Printer Friendly Page More Sharing
OpEdNews Op Eds    H3'ed 11/1/18

The Truth About Trump's Economy

By       (Page 1 of 1 pages)     (# of views)   1 comment
Author 47089
Follow Me on Twitter     Message Robert B. Reich
Become a Fan
  (128 fans)

From Robert Reich Blog

- Advertisement -

I keep hearing that although Trump may be a scoundrel or worse, he's done a great job for the economy.

Baloney. Yes, the stock market is great, but 84 percent of it is owned by the richest 10 percent of Americans.

The economy is growing, but very little of that growth is trickling down to average Americans. Jobs may be back but they pay squat, especially compared to the rising costs of housing, healthcare, and education.

- Advertisement -

Trump slashed taxes on the wealthy and corporations, and he promised everyone else a wage boost of $4,000 but it never happened.

Meanwhile, employers continue to cut pension and healthcare benefits. Jobs are less secure than ever. One in 5 jobs is now held by a worker under contract, without any unemployment insurance, sick leave, or retirement savings.

Housing costs are skyrocketing, with a large portion of Americans now paying a third of their paychecks in rent or mortgages.

- Advertisement -

Trump's budget proposes drastic cuts in low-income housing. Trump's undermining of the Affordable Care Act is also making life harder. Over the past two years, some 4 million people have lost healthcare coverage, according to the Commonwealth Fund.

The costs of college education continue to soar. All Trump has done is make it easier for for-profit colleges to defraud students.

And as the climate changes, more Americans are being hit with floods, mudslides, droughts, and wildfires.

And what's Trump's response? Allow more carbon pollution into the atmosphere and make climate change even worse.

So don't be fooled. Don't judge this economy by the stock market or economic growth, or even the level of unemployment.

Look at actual living standards of average working Americans, and you see an economy that's getting worse, not better.

- Advertisement -

 

- Advertisement -

Well Said 1   Supported 1  
Rate It | View Ratings

Robert B. Reich Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Robert Reich, former U.S. Secretary of Labor and Professor of Public Policy at the University of California at Berkeley, has a new film, "Inequality for All," to be released September 27. He blogs at www.robertreich.org.

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Trump Cornered

The Republican's Big Lies About Jobs (And Why Obama Must Repudiate Them)

Paul Ryan Still Doesn't Get It

What Mitt Romney Really Represents

What to Do About Disloyal Corporations

The Gas Wars