Friday, May 5, 2023

The U.S. Economy: President Trump's First Two Years Vs. President Biden's First Two Years.

President Trump took office at a time the U.S. Economy was in it's 8th consecutive year of economic expansion, job creation was positive and unemployment was down 3.1% on President Obama watch.  Budget deficits were falling and federal spending was increasing at lower level than the previous administration.   There was no economic recession on the horizon to worry about.  During Trump's first 24 months in office the GDP (Gross National Product) grew at an average of 2.5% per year.  Unemployment was down 7/10th of 1%.  It was 4.7% when he took office and 4% two years later.  Job Creation for Trump's first 36 months in office (before COVID) averaged 183,333 jobs per month.  

President Biden took office with an economic recession and COVID pandemic in full swing, job creation in negative territory, an unemployment rate of 6.3%, negative GDP, the largest federal spending spree in the history of the U.S., increasing deficits and a record number increase in the national debt for any Presidential term.  During President Biden's first 24 months in office the GDP averaged 4% per year.  The unemployment rate was down 2.9%.  It was 6.3% when he took office and was 3.4% two years later.  Unemployment has stood in the 3% range for 14 consecutive months, the longest stretch since the Kennedy-Johnson years.  Job creation in Biden's first 24 months averaged 458,000 jobs per month, a record for any 24 month period.

The 24 month period tells us how each President's administration performed after what they inherited from the previous administration and how they responded.  We know the full details of how the Trump administration ended because it is already in the history books and is not a flattering one. 

The story tells us the country and its people did well the first 24 months of the Biden's administration despite inflation and the negative voices of doom and gloom who refuse to talk about the positive accomplishments that took place in America.  The President's report card is not the final judgement, but that day will come when his full term can be measured and recorded. 

This commentary written by Joe Lorio 

The GOP Trys To Define Others and It's Opponents In Order To Influence Public Opinion and Divide The Country.

 A good example over the years in their attempt to define democrats as "liberals" but define the term as something other than the true meaning of "liberal."  They use the word to divide the people and misrepresent what "liberal" really stands for.  A large part of the GOP's reason to do so is that they cannot articulate what their own party stands for or compete with the facts on the issues because of their own extreme ideology.  

President Kennedy, who was very articulate in his speech and was willing to debate the merits of "liberalism" vs. "conservatism" with U.S. Senator Barry Goldwater who was running against Kennedy for a second term said this about being a "liberal" in his book, "Profiles in Courage."  (in which Kennedy defined the true meaning of "liberalism.")  IF BY A LIBERAL THEY MEAN SOMEONE WHO LOOKS AHEAD AND NOT BEHIND, SOMEONE WHO WELCOMES NEW IDEAS WITHOUT RIGID REACTIONS, SOMEONE WHO CARES ABOUT THE WELFARE OF THE PEOPLE-THEIR HEALTH, THEIR HOUSING, THEIR SCHOOLS, THEIR JOBS, THEIR CIVIL RIGHTS AND THEIR CIVIL LIBERTIES-SOMEONE WHO BELIEVES WE CAN BREAK THROUGH THE STALEMATE AND SUSPICIONS THAT GRIP US IN OUR POLICIES ABROAD, IF THAT IS WHAT THEY MEAN BY A "LIBERAL" THAN I AM PROUD TO SAY I AM A "LIBERAL."

Now, with the Republican party in decay and toxic under their leader Donald Trump, they discovered a new word to try and define the democratic party for the people using the word "woke."  After losing the popular vote 7 times in the last 8 Presidential elections, participating in Trump's corrupted administration that tried to over throw the 2020 election, supported Trump's effort to turn America into an autocratic governing body , created a fiscal calamity and economic recession that lost 21.5 million jobs, the GOP thought they needed a new word to define the democratic party so they hung their hat on the word "woke" to try and redefine the democratic party for the people.

President Biden who is not even close to President Kennedy when it comes to being articulate, demonstrated the true "liberal" spirit and definition with his policies that moved the country and its people away from the Trump/GOP failures of the previous 4 years.  And every step to true progress in moving America forward began with the "liberal" philosophy and the record speaks for itself.  

This commentary written by Joe Lorio