November 3, 2017

Obama hurricanes hurt economy, Trump hurricanes help it?

Despite the fact that unemployment is at the lowest it has been in nearly two decades, beating levels not seen in either the Bush or Obama presidencies, the media and the left refuse to acknowledge that optimism surrounding the Trump presidency and the changes being made are having a positive impact. 
...the unemployment rate ticked down to 4.1%, its lowest level since December 2000. The jobless rate, which changed little over the course of 2016, has dropped from 4.8% to 4.1% since the start of this year, a sign the labor market is heating up.
How do we know that the inaccurate assignment of blame or credit is the case? It's because the same people who blamed economic downturns during the Obama administration on hurricanes, are now blaming the success of the economy...on hurricanes. Perhaps some comparative examples would help illustrate it.

This is what the New York Times had to share during Hurricane Sandy in 2012.


And here's an excerpt from the Washington Post on the impact of the latest hurricanes: it's what's helping the economy boom, not president Trump.
The U.S. economy added 261,000 jobs in October, meeting expectations that the country had rebounded from damage wrought by Hurricanes Harvey and Irma, and the jobless rate ticked down to 4.1 percent — the lowest level since 2000.
Imagine how well the economy would be doing today if it didn't have to face those hurricanes. The contrast in the coverage is striking. When Obama was president the media portrayed it as a problem he had to overcome. For president Trump, suddenly hurricanes represent a tailwind for the president's economy.

Just, wow.
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