The GOP theory of economics seems to be that the economy was bad under Dubya but then miraculously did a 180 the exact moment that Trump got elected president. Those eight years in between, when the actual transformation took place, is not something they care to acknowledge at all.
In any event, Thursday was the one year anniversary of Trump and Ivanka’s “Pledge To America’s Workers.”
LOL – As Trump and Ivanka celebrate their "Pledge to American Workers" today, the White House is pushing the idea that Trump is to credit for job growth that not only started under Obama but ALSO job growth that happened while Obama *was still president*. pic.twitter.com/5J8k41l8Ew
— Kendally Brown (@kendallybrown) July 25, 2019
Here’s the 1:00 photo op. It’s terrific. Trump is in a hardhat and Nepotism Barbie plays work, with goggles, wrench, a control panel and all kinds of neat stuff. If they keep producing these, we recommend that you begin stocking motion sickness bags near the computer.
Today, is the 1-year anniversary of our #PledgetoAmericasWorkers!!!
We have reached 12 MILLION (!!!!) commitments to train & skill American workers from +300 companies.
The Pledge is a commitment to 12 Million American lives improved! 🇺🇸 pic.twitter.com/JLiWdyCVRZ
— Ivanka Trump (@IvankaTrump) July 25, 2019
Twelve million commitments to “train and skill.” Skill is a noun. How do you “skill” somebody? Oh wait, I know — it’s like little kids say, “I learned him how to play checkers.” Ivanka is going to skill-learn workers. Or something.
Trump just loves to go on and on about being “the Jobs President.” Bunk. In point of fact, less jobs have been created per month since he took office than under the last two years of Obama’s second term. ProPublica:
President Donald Trump likes to claim credit for the American job boom. He’s not the only president to celebrate job creation under his watch, but Trump is unusual among his peers for frequently attributing specific jobs at specific companies to his own actions.
The U.S. economy has been producing jobs at a healthy clip for years, creating 188,542 jobs a month on average in the first 24 months of Trump’s presidency, compared with 202,417 jobs a month in the last 24 months of the Obama administration.
But how much credit does Trump deserve? We tracked the president’s tweets and speeches about job creation to try to figure out how well his claims stacked up. The answer is: Not well.
Since the election, Trump has made 35 claims that companies would create 8.9 million jobs in the U.S. thanks to his policies and actions. Some of the new jobs he touted failed to materialize. Many of the new jobs he took credit for were, in fact, planned before he took office.
We found that only about 154,000 of those jobs have been created so far.
Roughly 122,000 of those were genuinely new positions, as opposed to slots that were planned before the presidential election.
The bottom line: Only 797 jobs are attributable to Trump, according to the companies that did the hiring.
And this is how Ivanka’s “Pledge To America’s Workers” has really been working out.
Take Trump’s claim in February that his daughter Ivanka created “millions of jobs” through the Pledge to America’s Workers, a White House initiative to encourage professional development for workers across different industries. Trump later provided a more specific number: “Think of it: 6.5 million. And these are jobs that, for the most part, would not have happened.”
But the “opportunities” pledged, which later went up to 7.9 million from over 200 companies, are, in fact, opportunities for retraining and continuing education, not necessarily new jobs.
Just before Trump took office, Alibaba chief Jack Ma stood with the president-elect and promised 1 million U.S. jobs.
But Ma later rescinded that commitment. “The promise was made on the premise of friendly U.S.-China partnership,” Ma said in an interview with Chinese media. “That premise no longer exists today.” In any case, the Chinese e-commerce giant wasn’t planning to build facilities or hire coders in the U.S. The plan all along was to create 1 million indirect jobs by helping American companies sell goods to the Chinese market on its platforms.
The ProPublica article is a blueprint of Trump’s lies about job creation and the actual facts, starting with each claim of Trump saving jobs in chronological order, starting with the Carrier debacle in Indiana, where Trump claimed to have saved 1,100 jobs. In point of fact, Trump counted 300 jobs that were never at risk and ignored 500 jobs that ended up being eliminated.
Then the chart moves on to a particularly wild stat. A Trump spokesman told the Wall Street Journal in 2017 that Trump was “pleased to have played a role” in a decision that Amazon made to create 100,000 jobs. Oh, yeah, Jeff Bezos asks Trump’s advice all the time.
Then there’s WalMart, which Trump thanked for creating 10,000 jobs in January, 2017. Only thing was, WalMart had made the decision to create the jobs in October, 2016, before Trump was elected.
You see the clear and obvious pattern here. Trump is taking credit for things he did not create. Which makes complete sense. He claims to be a self-made billionaire when he inherited his father’s wealth. This is the Trump pattern: take credit for another man’s work, whether it’s Daddy or Obama, no matter. It’s all a game without consequence anyhow — to him. You and I pay the consequences.
Trump puffed, “I’m allowed to be proud of my daughter.” Nobody is disputing that premise, but the bottom line on the “Pledge to America’s Workers” 6.5 Million jobs, is that they are PROMISES to create jobs in the future, but Not.Actual.Jobs. Companies like IBM promised 100,000 “training and skill building opportunities” and Hewlett Packard pledged 6,700 apprenticeships and continuing education programs, but nobody, nowhere has created 6.5 Million actual jobs, let alone the 12 Million that Ivanka touted Thursday. This is another Trump fiction.
What’s frightening, is that for the moment he’s getting away with this fraud, because the wheels haven’t come off the economic wagon yet, but that’s not going to be the case forever. All the signs of a recession are in place now, just like 2008. The country is running on debt financing, both personal and corporate debt, as Elizabeth Warren pointed out a few days ago. The manufacturing sector is in a recession, in decline for the first two quarters of 2018. Plus the “yield curve” which is a wonky economic indicator referring to the relationship between short-term and long-term interest rates on Treasury notes, inverted earlier this year as well. Vox points out that every US recession over the past 60 years has been preceded by an inverted yield curve.
God forbid Trump sails on to reelection on the waves of a strong economy. Because with all he’s done to undermine it so far with the whack a mole trade deals and loss of world markets, probably permanent, plus the indicators just noted, if he has another four years to mess things up, I fear that the Second Great Depression that Obama averted will finally come to pass.