Donald Trump must tout the economy to win the debates

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If Donald Trump wants to win the debates against Joe Biden, he needs to refrain from insults and stick to the facts of his administration. Even with these difficult times, he has a positive story to tell. Trump has rebuilt the economy once, and he is off to a flying start in doing it again.

Start with his record on family finances in his first three years as president. The media paid scant attention to a recent Census Bureau report, perhaps since it was chock full of bullish news in the economy for Americans of all incomes. The poverty rate fell to its lowest level in 2019, on the eve of the coronavirus, of any time before in our history. Moreover, the poverty rate also fell to its lowest level for Asian, Blacks, and Hispanics.

The middle class has also benefited. Median household incomes rose to $68,700 in 2020. Further, in three years, the gains in incomes for middle class households was larger than the gains in the last 16 years. Moreover, Blacks and Hispanics saw larger gains in incomes in the first three years under Trump than in all eight years under Barack Obama.

If such results had been recorded under Obama, we all know they would have elicited, as they should have, bold headlines. But under Trump, the media yawned. The unemployment rate also fell to the lowest level ever recorded with minority workers. So much for those “racist” policies. It is one reason that polls are today pointing to Trump doing better than any Republican in 30 years with minority voters on the trail.

Obama predicted that Trump would be able to bring back blue collar jobs only with a “magic wand.” From 2016 to 2019, the Federal Reserve Bank of Saint Louis notes that over a million Americans found jobs in construction and manufacturing. As one of the authors for the fiscal policies of Trump, these numbers are sweet vindication. The left continues to dismiss these ideas, but these results speak volumes to their success.

Many Americans are worried about the downturn. In the first half of 2020, thanks to the pandemic and business shutdowns, the economy shrank by nearly 40 percent, while the unemployment rate in many states soared to 20 percent or more. Trump promised a fast recovery with growth retaking the ground lost on this sinkhole. All the forecasters, including the Federal Reserve and the Congressional Budget Office, told us dire unemployment could become the new normal for several years to come.

Instead, the four best months for jobs creation ever occurred this spring and summer, with more than 10 million new positions. But the media told Americans that jobs creation was slowing even with these numbers. This is like saying that a baseball player who has three for four from the plate one day then has two for four the next day is descending.

Trump will also have a nice October surprise, and he could announce it in the debates. The latest estimate by the Federal Reserve Bank of Atlanta for growth in the third quarter is expected to skyrocket to 32 percent. Indeed, we have never come near that level of a rebound in the economy in a span of only several months. While there are still around 10 million unemployed Americans, and output will probably still be down by around 5 percent for 2020, this is only about half of what everyone was afraid of.

Trump needs to remind voters that his policies that will fuel the economy would be reversed under Biden, like the former vice president said. Biden would invoke the highest tax hike in business in modern times. If you twist the dials of growth in reverse, you get the results in reverse. Trump has to advise Americans to vote with their money in mind because if they do, he will shock the world again this fall, this time with a landslide.

Stephen Moore is an adviser at Freedom Works and a member of the White House economic recovery task force. Find him on Twitter @StephenMoore.

Tags Americans Business Donald Trump Economics Election Government President

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