The Truth About Trump’s Economy

Robert Reich

Robert Reich Former U.S. Secretary of Labor, Professor at Berkeley

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.

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.

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. 

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Reposted from Robert Reich

Robert Reich served as the nation’s 22nd Secretary of Labor and now is a professor of public policy at the University of California at Berkeley. His latest book, Aftershock: The Next Economy and America’s Future, is now in bookstores. His earlier book, “Supercapitalism,” is out in paperback. For copies of his articles, books, and public radio commentaries, go to www.RobertReich.org.

Posted In: Allied Approaches

Union Matters

He Gets the Bucks, We Get All the Deadly Bangs

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

National Rifle Association chief Wayne LaPierre has had better weeks. First came the horrific early August slaughters in California, Texas, and Ohio that left dozens dead, murders that elevated public pressure on the NRA’s hardline against even the mildest of moves against gun violence. Then came revelations that LaPierre — whose labors on behalf of the nonprofit NRA have made him a millionaire many times over — last year planned to have his gun lobby group bankroll a 10,000-square-foot luxury manse near Dallas for his personal use. In response, LaPierre had his flacks charge that the NRA’s former ad agency had done the scheming to buy the mansion. The ad agency called that assertion “patently false” and related that LaPierre had sought the agency’s involvement in the scheme, a request the agency rejected. The mansion scandal, notes the Washington Post, comes as the NRA is already “contending with the fallout from allegations of lavish spending by top executives.”

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Corruption Coordinates

Corruption Coordinates