The contrast between the America described by Democrats and Republicans could not have been greater this week. In Washington, Nancy Pelosi’s impeachment managers claimed there was a self-serving carpetbagger in the White House. In Switzerland, Donald Trump’s economic team claimed the Oval Office was now home to a job-creating economic wunderkind. Which proclamation does the average American need to hear (hint: the fact-based one)?
A Newsweek editorial observed, “the story the president brought to Davos was an extraordinary contrast to the problems of his colleagues around the world.” Hence, it is no understatement to report today’s US economy is the envy of the world. Hoping America is respected – or feared – by the world again, America’s president spelled it out for the Davos audience; and if it’s true, it isn’t bragging.
America is re-setting global trade to create economic relations based on fairness and reciprocity. Without an elite globalist in the Oval Office, US trade representatives are now protecting domestic workers and businesses. After bilateral trade deals with Japan and North Korea, replacing NAFTA with the USMCA, and Phase I of the US-China agreement, it is now obvious the US can force bilateral trade deals on the world (something I did not think possible).
The US is giving the world no choice but to invest in America, because the smart money flows to the best growth opportunity. In the first half of 2019, almost 25% of the direct foreign investment in the world flowed to the USA, and the impact is consequential. Since 2016, over 12,000 new factories have been built in America, and US stock market values have increased by $19 trillion.
The US is now the world’s largest producer of oil and natural gas, meaning the US is no longer dependent on hostile OPEC providers (like Iran). This saves the average American household $2,500 compared to Europe. America is also the world’s top food exporter ($140 billion in 2018): a number that will increase because of US-China Phase I. Further, Mr. Trump surprised the Davos crowd by announcing the US will sign onto the One Trillion Trees Initiative, an important ecological step.
Perhaps the greatest achievement of the US economy is wage growth and job creation, because the once under-employed are seeing the greatest gains. Since Obama left office, 7 million new US jobs have allowed 3.5 million to re-enter the workforce, and lifted 10 million off welfare. Record-low jobless rates have been achieved by blacks, Hispanics, Asians, women, veterans, the disabled, and high-school dropouts. Mind you, these are the very people Democrats claim to be protecting from the “dictator” Trump.
If one is to take seriously all the free stuff being offered by Democrats running for president, then one should be grateful that bad man has turned around the US economy. Because the net worth of the bottom half of wage earners has increased 45%, there are fewer citizens in need of entitlements. And, because real median household income has never been higher, tax payers might support a larger safety net. Do the math and tell a friend.