Helpfully Missing an Economic Boom

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One can’t help but wonder whether findings like this would be much more pervasively proclaimed among mainstream news sources if the president were of the other political party:

Trump, it turns out, has been the most consequential president in history when it comes to minority employment. In June, for instance, the unemployment rate for Hispanics and Latinos 16 years and older fell to 4.6%, its lowest level ever, from 4.9% in May. The previous all-time low was 4.8%.

African-American unemployment bounced up from its all-time low of 5.9% in May to 6.5% in June. But that 6.5% still represents the second-lowest unemployment reading ever for Black Americans.

The editorial writers for Investors Business Daily who wrote those paragraphs also suggest that increasing prosperity might indicate a change in voting habits.  And that kinda makes one wonder something else.

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If a thriving economy from a regimen of tax cuts and regulatory reform can shift the political winds, the party that these trends would disfavor have incentive to keep the economy from thriving… at least in circumstances for which it can’t take credit.  Indeed, the ideal circumstance (if it works) would be for everybody to have a feeling that their fortunes depend on government — specifically, government with a particular political party in power.  So, corporate types feel as if officials’ helping hands are critical to their success, and low-end workers feel as if meddling laws prevent their devastation, and everybody in between has some reason to feel bought off.

Unfortunately (or fortunately, depending on your perspective), that approach doesn’t work.  The incentives are all wrong, and the system can’t self correct.

In the meantime, Rhode Island isn’t fully benefiting from the national upswing, which has the helpful consequence that people in Rhode Island remain more susceptible to the false narrative of the ruling party.



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