This past week the Dow hit 38,000 for the first time. Fifty-eight percent of Americans own stock, and many who don’t, have pensions or 401ks that are invested in the market.
The fact is that Joe Biden has been a better steward of our economy than Donald Trump was during his term. And that is putting aside the pandemic. This year, more jobs were created than in any year of the Trump administration. This strong job creation continued as inflation fell back to pre-pandemic levels of 2% over the last six months.
On the stump, Trump likes to brag that gas prices were less than $2 when he was president. That’s actually true. But it was at the height of the pandemic, when almost everything shut down, no one was on the road, and Americans went into isolation. (That was a very productive period for me. I figured a lot of stuff out. For example — a watched pot never boils? Not true.)
The Biden administration has a good economic story to tell, and Americans seem ready to listen. We at Midwest Values PAC are committed to help Democrats up and down the ticket tell that story.
No doubt, Americans are still licking their wounds from inflation that peaked at 9.1%. And it doesn’t help much to point out that it was higher around the world. (Hungary — the fave of Viktor Orbán fans like Donald Trump and Steve Bannon — peaked at 14.5%.)
The economy is unpredictable. Economists had predicted a recession from the increase in Fed rates. And it turns out that Americans are beginning to see interest rates going down as the economy continues to grow.
Help us tell that story.
P.S. I’ve made the point that our democracy is at stake in this election. That overrides all other consideration. But historically, Democrats have been better stewards of our economy. More jobs were created in the last three years of the Obama administration than in the first three years of Trump’s. And we like fairness too and believe that taxes should be higher for those at the very top. And Trump supporters believe that too!