Trump will have the worst jobs record in modern U.S. history. And it’s not just because of the pandemic.
Obama, Clinton and Jimmy Carter 😂
Obama, Clinton and Jimmy Carter 😂
Trump's presidency burned down Obama's economy, mismanaged a pandemic that has cost 400k Americans their lives, and will go down in history as one of the worst presidents in our national history. #trumpslastday #covidmemorial #BidenHarrisInauguration #goodbyeDonnie
— Matty Ice@MattyIceUSA
☑️ Trump-Pompeo vetting process: T&A
A senior Trump administration official has embellished her résumé with misleading claims about her professional background — even creating a fake Time magazine cover with her face on it — raising questions about her qualifications to hold a top position at the State Department.
An NBC News investigation found that Mina Chang, the deputy assistant secretary in the State Department's Bureau of Conflict and Stability Operations, has inflated her educational achievements and exaggerated the scope of her nonprofit's work.
Someone needs to confirm if there was a quid pro quo! #BeBest
Whatever her qualifications, Chang had a key connection in the Trump administration. Brian Bulatao, a top figure in the State Department and longtime friend of Secretary of State Mike Pompeo, attended a fundraiser for her nonprofit in Dallas and once donated $5,500 to her charity, according to a former colleague of Chang's.
Why didn’t anyone ask her for her official Harvard transcript?
Chang says in her official biography that she is as an "alumna" of Harvard Business School. According to the university, Chang attended a seven-week course in 2016, and does not hold a degree from the institution.
Why didn’t anyone ask her for references and do followup?
Chang, who assumed her post in April, also invented a role on a U.N. panel, claimed she had addressed both the Democratic and Republican national conventions, and implied she had testified before Congress.
She was being considered for an even bigger government job, one with a budget of more than $1 billion, until Congress started asking questions about her résumé.
She earns a six-figure salary in a bureau with a $6 million budget
If you’re still not disgusted, there’s way more Ethics Poverty #BeBest
Replying to @WhiteHouse @POTUS and @realDonaldTrump
Looking at jobs and deficits
Reagan: 15M jobs — $79B to $159B Bush: 2M jobs — $153B to $255B Clinton: 23M jobs — $255B to $128B surplus Bush 1.5M jobs — $128B surplus to $1T debt Obama 12M jobs —1.16T to $585B Trump 5M jobs — $585B to $1.1T
Hate for this to go viral #VoteDemocrat
— Zee Matic @ZeeMatic1
“When the economy is good, it’s possible for someone like him to hold down a job for which he is woefully unqualified,” Harland Dorrinson, a human-resources specialist, said. “But when the economy goes south, look out.”
Dorrinson said that the unskilled man’s résumé, which lists six bankruptcies and multiple business failures, could come under scrutiny in the event of a recession.
Additionally, the man’s near-total lack of education—evidenced by his inability to spell common one-syllable words or to identify the century in which the airplane was invented—could make him vulnerable to termination, the human-resources expert said.
The economy had about 501,000 fewer jobs as of March 2019 than the Bureau of Labor Statistics initially calculated in its survey of business establishments. That’s the largest revision since the waning stages of the Great Recession in 2009.
They also signal the economy is a bit weaker than previously believed and could give the Federal Reserve even greater reason to cut interest rates in September.
Even with Global Recession of 2007 - 2008:
We created a timeline of official numbers from the U.S. Bureau of Labor Statistics over the last several administrations, going all the way back to FDR in the Great Depression.
Our numbers also ignore recessions and depressions, when lots of people lose their jobs.
McConnell was among the advocates for lifting sanctions on Oleg Deripaska’s company Rusal. http://bit.ly/2PesBAK
The OLIGARCH is in the report of interference
Rusal, the aluminum company partially owned by Russian oligarch Oleg Deripaska, announced plans to invest around $200 million to build a new aluminum plant in Kentucky just months after the Trump administration removed it from the U.S. sanctions list.
The new aluminum plant, slated to be built in the home state of Senate Majority Leader Mitch McConnell, will be the biggest new aluminum plant constructed in the U.S. in decades. Rusal will have a 40 percent stake in the facility.
Paging Mitch McConnell... Paging Mitch McConnell... your bribe can be picked up at the front gate of your compound
— Seth Abramson @SethAbramson - Apr 15, 2019
U.S. farmers in the Midwest are filing for bankruptcy at levels the U.S. hasn’t seen for approximately a decade, the Wall Street Journal reports.
Low commodity prices have been gouging U.S. farmers’ bottom lines for years now, exacerbated by increasing agricultural competition from Russia and Brazil. President Trump’s trade disputes, meanwhile, are adding salt to the wounds, as tariffs drive down prices and decrease profit for farmers.
In the 7th Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, twice as many farmers declared bankruptcy in 2018 as during the 2008 recession.
In the 8th Circuit, which spans from North Dakota to Arkansas, bankruptcies shot up 96%.
In the 10th Circuit, which includes Kansas, Colorado and parts of Oklahoma, bankruptcies were up 59%. Together, these three jurisdictions accounted for nearly 50% of all farm product sales in 2017, per the Journal.
Last year, farm debt rose to over $409 billion, with the average size of loans in the 4th quarter reaching $74,190, the highest 4th quarter level in history.
Chapter 12 bankruptcy filings are still below the highs of 2010 when looking at nationwide numbers. But the Midwest is hurting, and even though the Trump administration has been rolling out federal government relief for farmers to make up for tariff damage, lawmakers from both sides of the aisle fear it is only a short-term, partial solution.
Trump doublespeak: America First is really America Last
Trump’s $12 billion bailout wasn’t enough to makeup for the losses from Trump’s tariffs #RepublicansComplicit
Farmers enough is enough. End Trump’s tariffs and trade wars #VOTE #VoteDemocrat #VoteBlue #MAGA 🇺🇸
The Trump tax cuts had several publicly stated goals. First, by lowering corporate tax rates, they would induce companies to bring home massive stores of overseas cash. “We’ve got about $3 trillion in trapped cash overseas that basically can’t come back in this country because of our tax laws,” said Paul Ryan. Second, by eliminating loopholes and preferences, it would reduce the need for and value of gaming the tax code through specialized knowledge. “We just want to clean it up,” explained Ryan, “we just want to simplify the whole thing.” And third, by promoting new investment and economic activity, the tax cuts would spur enough new growth to replace the lost revenue.
Objective number three is already looking like a lost cause. Corporate tax revenues have plummeted, and the tax cuts are costing even more revenuethan the government projected a year ago. A pair of new analyses today show that the other two goals aren’t looking very hot, either.
Economist Brad Setser writes that “there is no wide pattern of companies bringing back jobs or profits from abroad. The global distribution of corporations’ offshore profits — our best measure of their tax avoidance gymnastics — hasn’t budged from the prevailing trend.” American companies are still reporting their foreign earnings in the same handful of low-tax offshore locations.
What about the simplification? That hasn’t happened, either. Wall Street Journal tax reporter Richard Rubin reports that far from making accountants and tax lawyers unnecessary, they are more needed than ever before. The Trump tax cuts create new loopholes and complications that require even more tax experts to decipher and exploit.
💡 Republicans, the reason why companies and the rich pay to hide their money offshore is to pay ZERO taxes — and to keep it a secret. 💡 They’re not going to bring back the money if they don’t need it. 💡 So there’s a super slim chance that Paul Ryan’s “trapped cash” is ever coming back. #OffshoreSHELLcompanies
Trump Supporters, words of wisdom from your president...💡...
We're tracking the president's progress on his agenda and how it is received by the American public and the wider world.
And there are interesting - and surprising - comparisons with some of his predecessors.
Jobs: Obama vs Trump
#ObamaDidItBetter in spite of the worst Financial Crisis and greatest recession since the Great Depression.
Approval Ratings #WorstPresident
Promises: Obama vs Trump #TrumpBrokenPromises #TrumpWall
Revolving Door
John Kelly: “This is the worst job I've ever had.“
Some of the fears are now a reality because of Trump’s and McConnell’s Shutdown. Travel and Tourism 📉 Hotels 📉 Airlines 📉 Consumer Confidence 📉 TSA 📉 ... #LongestShutdownEVER
Travel and Tourism
The travel and tourism industries generate about $1.6 trillion in U.S. economic activity — one-twelfth of the economy — and one in 20 jobs, according to the Commerce Department. Macroeconomic Advisers says it now expects the economy to expand at just a 1.4 percent annual rate in the first three months of this year, down from its previous forecast of 1.6 percent, because of reduced government spending during the shutdown.
Hotels suffering except Trump's of course!
In the Washington area, including its nearby suburbs in Maryland and Virginia, hotel revenue plunged 26 percent in the second week of January compared with the same period last year, according to STR, a travel research firm. That's much steeper than the 8 percent decline that occurred nationwide.
Airlines
Delta said this week that the shutdown will cost it $25 million in January because fewer federal employees and contractors will be flying. By contrast, United Airlines, which has a substantial presence around Washington, D.C., said it hasn't felt much impact yet.
TSA
But the airlines fear that if the shutdown doesn't end soon, more TSA agents will call in sick or quit
The TSA predicts it will screen over 8 million passengers between Friday and Monday, up 10.8 percent from last year's MLK weekend. And it will do so with fewer screeners. On Thursday, the TSA said 6.4 percent of screeners missed work — nearly double the 3.8 percent rate on the same day in 2018.
Consumer Confidence
Consumers are, in fact, taking a dimmer view of the economy, in part because of the shutdown. A measure of consumer confidence fell this month by the most in more than six years, according to the University of Michigan, which conducts the survey.
If Americans were to cut back on travel and other discretionary spending, it would weaken consumer spending, the U.S. company's primary fuel.
Ma made his original job creation pronouncement during a high-profile meeting with Donald Trump in January 2017 before Trump's inauguration as president.
"The promise was made on the premise of friendly US-China partnership and rational trade relations," Ma told Chinese news site Xinhua on Wednesday. "That premise no longer exists today, so our promise cannot be fulfilled."
The Trump Cult buys his lies. They’re the unwavering 36% who approve of his hate and destruction.
Republicans, “But I still have a job...right?”
"So now we will also impose import tariffs. This is basically a stupid process, the fact that we have to do this. But we have to do it. We will now impose tariffs on motorcycles, Harley Davidson, on blue jeans, Levis, on Bourbon. We can also do stupid. We also have to be this stupid,"
— European Commission President Jean-Claude Juncker