American Elephants


Infrastructure, Legacies, History and Personal Insults by The Elephant's Child

New York Times correspondent Peter Baker’s new book Obama: The Call of History was recently updated to include the information that “former President Obama took President Trump’s win and Hillary Clinton’s loss in 2016 as a personal insult.”

Obama has talked a lot about his “legacy.”  Most presidents, I imagine, are concerned about how history will view the challenges they faced and the job they did. But once they’re done, that’s up to the historians. Obama has had rather glorified ideas about his presidential library, and quite a battle with the city of Chicago and his selection of a prime piece of parkland, much to the distress of the neighbors. Democrats expected Hillary to win, and it was undoubtedly a shock to Obama.

There’s a favorite saying of political consultants: “It’s the economy, stupid.” The Wall Street Journal remarked yesterday that “The best news is that the beneficiaries of this tight labor market are the folks who struggled during the slow growth Obama years.” Government actions are not abstract things that are only important to the hovering newspersons. They have a major impact on the American people’s pocketbooks and well-being. Many people are now working who were living on food stamps.

Obama never, in eight years, achieved even 2% growth, but doubled the national debt. It was the slowest and most sluggish recovery under Obama, in history. They talked about it, and Obama’s economists said that times had just changed and there was no hope of ever getting back over 2% growth.

President Trump is going to meet with Pelosi and Schumer to talk about “infrastructure” which they supposedly think is important. Trump wants $1 trillion, but Schumer says Trump is going to have to get rid of some of those tax cuts. I keep saying that Democrats do not understand free market economics, and they keep insisting that I’m absolutely correct. Can’t have this booming economy, it makes the Democrats look bad. The Wall Street Journal:

Many of the robust job gains came in businesses that hire those with less education. Construction added 33,000 jobs last month, for example, and has added 256,000 over the last year. Most of the new construction jobs last month were in nonresidential and heavy civil engineering work, which suggests that business investment may be picking up after a weak first quarter.

In a separate report earlier this week, the Labor Department reported that worker productivity increased 3.6% in the fourth quarter and 2.4% from a year ago, the fastest rate since 2010. This continues the productivity-growth trend from 2018, which has followed faster capital investment after tax reform and deregulation. This bodes well for faster wage gains over time. increased 3.6% in the fourth quarter and 2.4% from a year ago, the fastest rate since 2010. This continues the productivity-growth trend from 2018, which has followed faster capital investment after tax reform and deregulation. This bodes well for faster wage gains over time.

Everybody talks about “infrastructure” but not about just what infrastructure they are so anxious to build.  Before you start casually spending another trillion dollars, please explain just what you have in mind. How about a nice wall at the southern border?


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