The more I think about this outrageous, stupid, and pointless Schumer shutdown, the more I can see that this never had anything to do with Obamacare, or healthcare, or anything like that. This had to do with pathetic Democratic attempts to sabotage the booming Trump economy and the extraordinarily successful Trump Presidency. That’s what they were doing. Political sabotage. And it backfired badly, probably ending Chuck Schumer’s career. And who knows how many other Democratic causalities. Even the Democratic-leaning unions, the guts of the party, begged Schumer to open up the government and he wouldn’t listen.
With the Dow Jones and other stock indexes setting a record high on almost a daily basis, Democrats are trying to sabotage that too. I don’t know the exact number, but I’m gonna say roughly 135 million Americans are invested in the stock market through 401Ks, and IRAs, and even the union pension funds are heavily invested.
So, there’s a stock market boom. The broad-based S&P 500 index is up 37% since mid-April. This is massive capitalist wealth creation that covers the roughly 160 million civilian labor force. I know it doesn’t cover everybody, but it’s close to it. Massive wealth creation for retirement or anything else that their hearts desire. Democrats hate this, except insider traders like the retiring Nancy Pelosi.
But most of the leadership nowadays prefers some kind of socialism, chi, chi socialism… wait no, champagne socialism, not market-based capitalism. Certainly not the stock market. They’re going after Trump. They didn’t like the 3.8% GDP in Mr. Trump’s first presidential quarter. They don’t like the 4% estimate for Q3 from the Atlanta Fed, which would be the second Trump quarter.
So sure enough, Press Secretary Karoline Leavitt today bravely had to admit that the Democratic shutdown has indeed crippled the economic numbers and damaged the fourth quarter outlook.
Leavitt said, “According to a CBO estimate, the Democrat shutdown could end up decreasing fourth quarter economic growth by two whole percentage points. The Democrat shutdown made it extraordinarily difficult for economic economists, investors and policymakers at the Federal Reserve to receive critical government data. The Democrats may have permanently damaged the federal statistical system, with October CPI and jobs reports likely never being released, and all of that economic data released will be permanently impaired, leaving our policymakers at the fed flying blind at a critical period.”
Isn’t that something. This is what Democrats want. The economy will pick it all back up next year despite all this Schumerism shutdown.
The fact of the matter is wages are rising faster than prices right now. That’s so important. And in Mr. Trump’s first nine months, real income is up $1,200. Now during the Biden years, let’s not forget it fell $3,300. This is quite a turnaround in just nine months. For Mr. Trump, construction workers’ take-home pay is up $2,200 already.
And here’s a fun stat: 28 states have gasoline prices under $3, with the average for those states at $2.80. More than half the states have a $2 handle on it. And I’m sure Mr. Trump is gonna be right, with drill, baby, drill, it’ll be back to $2 even, or even less for everybody. All this talk about affordability circulating in the liberal left media is their attempt to hack away at Trump’s successes.
I know that there’s concern about affordability, but tax cuts are on the way for next year, maybe as much as a $200 billion refund for working folks. Add to that immediate expensing for business machinery, equipment, semiconductors, AI, factories, autos, you name it across the board. Profits are soaring, and that’s the backbone of the record-setting stock market. Which is predicting a Trump Boom.
I’ll say it again, Democratic attempts to sabotage that boom are failing miserably.