02/10/2019

Fact Check This: Quality Of Life Is Up Sharply Under Trump

Investor's Business Daily

Good Times: When Trump rattled off a series of economic successes in his State of the Union, he could have added one more. The public's quality of life has improved sharply in the past two years.

"We have created 5.3 million new jobs and, importantly, added 600,000 new manufacturing jobs," Trump said at one point in this address. "Wages are rising at the fastest pace in decades ... . Unemployment has reached the lowest rate in half a century. African-American, Hispanic-American and Asian-American unemployment have all reached their lowest levels ever recorded. Unemployment for Americans with disabilities has also reached an all-time low."

Unemployment at historic lows? Wages climbing at a fast pace? Who knew? The news media, fixated on Trump scandals, hasn't exactly been broadcasting that good news. And media fact checkers busied themselves after the speech nitpicking Trump's economic boasts.

But the upbeat assessment clearly resonated with the public, most of whom gave Trump's speech top marks. Turns out they have been firsthand witnesses to the strength of the economy over the past two years.

How do we know? Look at the IBD/TIPP Quality of Life Index, which asks the public whether they think their quality of life will be better, worse or the same over the next six months.

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With interest rates flattened [by the Federal Reserve], government zeroes out the future. Abandoned were 80 percent of private defined-benefit pension plans. Public plans faced a similar evisceration in the future. With no acknowledgement, the U.S. government had casually dispossessed the American middle class of its retirement assets and pushed millions of Americans into acute dependency on government programs. ... Government dependency negated the American dream.

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