Picture not as rosy as Trump, GOP portray
To the Editor:
I am once again mystified about the issue of ignoring the facts as per the letter to the editor from Jim from Lodi on Dec 19.
So here we go once again to set the record straight about those “do nothing” Democrats.
During the Obama administration the Dow went from 6,900 to 19,000. He saved us from the mortgage crisis of 2008, which would have put the country into a deep recession. Unemployment went from 10% to 4.9% a return of 8 million to work. Health insurance became affordable. Gas was $5.25 a gallon reduced to $1.98 a gallon. Inflation went from 5.8% to .5%
President Trump promised the following: Coal miners back to work. Health insurance would be “Cheap cheap.” National debt would “disappear.” Good Paying factory jobs would return
Here’s the reality:
Only an average of 500 net workers nationwide out of the 45,000 or so ever went back to work in the last three years
Health insurance costs have risen approximately 30%.
The rate of national debt has never been higher in the history of the nation. The debt to GDP ratio is .8 and coupled with the recent sale of 2.55 TN of bonds will likely exceed 1 in the near future, a precarious situation to put it mildly. This in a so-called great economy.
During the last three years unemployment dropped from 4.9% to 3.5%. This translates to 2 million compared to the 8 million during the Obama administration.
Inflation has increased from .5% to 2%.
Gas has increased from $1.98 to $2.80 at present.
Factory jobs have declined by 14.7% as reported by the Department of Labor in the past three years. Couple this with the Grassley Alexander Act and the right to work laws.
I won’t comment on the environment, the encroachment of Russia on the Arctic Circle, Ukraine and Turkey. Then there’s, China, a rapidly rising world power, looking for other trading partners and the loss of exported food to Asia; if the above isn’t understood, neither will this be.
It’s a great economy but for whom?