American Elephants

Elizabeth Warren Does Not Understand Economics by The Elephant's Child

A few years back, Mary Kissel who was at the Wall Street Journal at the time, remarked that Elizabeth Warren had only “a child-like understanding of economics”. That stuck with me because it was so accurate. Black unemployment is the lowest it has ever been. The economy is doing great. Food Stamp use is way down. New filings for unemployment benefits are at an all time low.

Democrats believe, as a matter of faith, that Republican tax cuts go only to the rich and to corporate chieftains. Democrats have no understanding of proportionality whatsoever. Since the rich pay way more in taxes, the same percentage of a tax cut will mean more money for somebody who makes far more. Worked for Ronald Reagan too, if you remember

That’s why tax cuts for business owners mean they have more leeway to invest, build, hire, grow their businesses and they do so. Ordinary people have more money to buy something they need or want. They have more freedom. It’s a big shot in the arm for the economy. Were Ms. Warren to be elected, the first thing she would do is end the hated tax-cuts, and set the country on a recession which she would not understand at all, and inevitably believe that it was something Trump did to her because she attacked him for calling her Pocahontas. Bet she doesn’t even know that President Trump is donating his salary to the country.

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As a reference here are two links on the SNAP rolls:

Monthly Data – Oct 1988 to Dec 2017

Monthly Data – Oct 2015 to Dec 2018.

Click to access 34SNAPmonthly.pdf

Note the annual figures at the top is an average for the whole Year to Date and is typically higher than the December monthly tally on the decreasing trend line. 2019 average to Date is 38,218,979. Given the drop of 3 million participants in 2018, don’t be surprised that when the figures finally come out for June 2019, it will be somewhere around 36.3 million. This would essentially roll back SNAP participation to Aug 2009 levels.

You should also note that SNAP levels were running around 26 million during W’s last term before the recession hit. At current trend rates, it should take Trump another 3 years+ to totally unwind the damage done to the American work force by the irresponsible lending policies of Freddie Mac and Fannie Mae run by Obama’s friends, Rahm Emanuel and Franklin Raines, respectively.


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