The Commerce Department reported that the Gross Domestic Product grew at a 3% rate in the April-June quarter of 2017.
This is great news for president Trump. The economy was stagnant during Obama’s presidency, averaging an abysmal 1.5% growth over 8 years. Many economists said that 3% is impossible. But the very presence of president Trump in the White House is instilling great confidence.
The August employment report, however, does not appear all that great with 156,000 jobs added. But it is important to remember that president Trump has not gotten any of his economic plan passed – zero, nothing.
The economy is still burdened by federal debt, high business taxes, labyrinthine regulations, massive environmental obstruction, confrontational labor unions, and decades of job losses to cheap-labor nations. This is going to take years to turn around. The first step is Trump’s tax cuts for individuals and businesses. The next is the repeal of thousands of deadening regulations.
Nikitas3.com estimates that we will get 250,000 jobs or more per month, and up to 300,000 per month, if the Trump economic plan is passed. And up to 25 million new jobs under 8 years of Trump, versus 11 million jobs under Obama. And annual growth at 4% to 5% under Trump.
While 156,000 jobs does not appear all that great August was actually very strong. The Bureau of Labor Statistics reports:
Manufacturing employment rose by 36,000 in August. Job gains occurred in motor vehicles and parts (+14,000), fabricated metal products (+5,000), and computer and electronic products (+4,000). Manufacturing has added 155,000 jobs since a recent employment low in November 2016.
In August, construction employment rose by 28,000, after showing little change over the prior 5 months. Employment among residential specialty trade contractors edged up by 12,000 over the month.
Mining continued to add jobs in August (+7,000), with all of the growth in support activities for mining. Since a recent low in October 2016, employment in mining has risen by 62,000, or 10 percent.
Just look at those numbers. Manufacturing, construction and mining are the most important jobs. They are ‘wealth creators’ and leading indicators of economic vitality. These sectors have been suffering for years, even decades. American manufacturing employment peaked in 1979 at 19 million jobs. It is now about 12 million but with a much bigger population.
Jobs created under the lax Obama economy were often part-time and low-paid, in addition to being few in number. Here is Democratic National Committee chairman Donna Brazile writing in a leaked e-mail from February 13, 2016:
I think people are more in despair about how things are—yes new jobs but they are low wage jobs. HOUSING is a huge issue. Most people pay half of what they make to rent.
President Trump now is turning the situation around, but it is going to take time. Meanwhile here is another good note from CNSNews.com:
The number of people working for the federal government has declined by 11,000 in 2017 while the number working for state governments has declined 2,000, according to data published today by the Bureau of Labor Statistics.
There are other good signs. The New York Times reports:
In Pennsylvania’s Lehigh Valley, where vanished giants like Bethlehem Steel once employed thousands of workers who turned hot metal into finished steel, Mack Truck is at least one company that is hiring.
…The number of workers at its factory in Macungie, Pa., dropped to 1,287 in 2016 from 1,875 the year before as demand for new trucks fell. But the market is looking stronger now, and the factory now employs 1,800 people.
Mack’s story underscores the broader rebound in the manufacturing sector, which lost more than 2 million jobs in the last recession, but has partially clawed its way back since then. Factories added 70,000 workers to their payrolls so far in 2017, and economists will be watching to see if the trend continued in August.
Now here are two other brief editorials:
Phony James Comey Exposed
The Daily Caller reports:
As FBI director last year, James Comey began writing drafts of a statement exonerating Hillary Clinton, even before all witnesses in the investigation — including Clinton herself — had been interviewed.
The Senate Judiciary Committee obtained the Comey memos as part of its investigation into his firing by President Trump, which occurred on May 9.
The revelation that Comey had begun drafting memos of his exoneration statement comes from transcripts of interviews given last fall by two FBI officials.
… In a July 5, 2016, press conference, Comey said that he would not be recommending charges against Clinton for mishandling classified information despite her use of a private email server as secretary of state.
While the transcripts of those interviews are heavily redacted, they indicate that Comey started working on an announcement clearing Clinton in April or May of 2016, before the FBI interviewed 17 witnesses in the case, including Clinton and some of her top aides.
Clinton was interviewed for several hours on July 2, just three days before Comey’s announcement.
If this doesn’t expose that phony Comey then nothing does. And this also exposes special counsel Robert Mueller who is investigating president Trump and who has had close decades-long ties to Comey.
How can Comey and Mueller be trusted? Comey is going to be a principal witness in Mueller’s probe of alleged Trump collusion with Russia. Their type of relationship is legally challenged in American courtrooms every day.
Nikitas3.com has said repeatedly that Trump should fire Mueller. This new revelation about Comey gives Trump even more ammunition to do so.
Thank God that president Trump fired Comey from FBI, a true partisan hack who is a dominant creature in the Washington ‘swamp’ that president Trump wants to drain.
Trump Donates $1 Million to Hurricane Victims
President Trump has donated $1 million of his own money to victims of Hurricane Harvey. And don’t forget that many of these victims are liberal Houstonites. In case you did not know Houston is a very liberal city in conservative Texas.
Naturally the media are doing everything in their power to ignore the president’s generosity.
So now you wonder: Where are all the rich liberals to give even $50,000? Or $10,000? How about Stephen Colbert, Bill Maher, Michael Moore, Oprah Winfrey, Cher, Jeff Bezos, John Kerry, George Soros and all the rest? Where is the Clinton Foundation, that does not even donate the Clintons’ own money but distributes money that is gifted to their foundation?
The fact is that liberals are notorious cheapskates with their own money and time, while conservatives are generous with both. This is methodically explained in a book by Arthur C. Brooks entitled Who Really Cares, The Surprising Truth About Compassionate Conservatism.
Here is Barbara J. Elliot reviewing the Brooks book on The Imaginative Conservative website:
Political orientation is another powerful factor in charitable giving. Conservative households donate 30 percent more money to charity than liberal households, and they are more likely to volunteer as well. Why the difference? Brooks found that liberals view government redistribution as a “form of charity,” which they believe exonerates them from further giving. But it clearly is not the same thing. Charity is voluntary and taxation is not. Liberals can be shamed into giving, however. Presidential candidate Al Gore was embarrassed by the release of his tax return that indicated he had given a meager 0.2 percent of his income to charity. His giving jumped to 6.8 percent the following year.
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