Last week Trump will try to boast about the economy, but the reality is that economic growth is not expected to continue at the same rate and workers have not benefited. Workers’ wages have actually decreased over the past year.
Economists said Q2 GDP growth was artificially high and economic growth would not continue at the same rate after this quarter.
CBS News: “An ‘idiosyncratic’ quarter: Not even bullish economists expect the pace of the second quarter’s growth to continue, however, because it’s driven by ‘a number of idiosyncratic factors that are unlikely to be sustained in the second half of the year,’ according to Morgan Stanley.”
New York Times: “The second-quarter acceleration was widely anticipated by economists, a result of a confluence of events unlikely to recur. Most economists expect growth to slow in the second half of the year.”
Workers have not benefited from economic growth or the Trump tax law. Wages have fallen over the past year.
CBS News: “Year-over-year, rising prices have eaten up still-modest pay gains for many workers, with the result that real wages fell 1.4 percent from the prior year, according to PayScale.”
Vox: “While wages have risen by 12.9 percent overall since 2006, wages adjusted for inflation (so-called ‘real wages’) have actually fallen by 9.3 percent. And between the first and second quarters of 2018 — after the tax cuts were enacted — real wages fell by 1.8 percent.”
Trump’s reverse Robin Hood tactics have only furthered the resolve of Democrats. We will fight harder than ever to build a brighter economic future for everyone.
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BETTER JOBS: We’ll work to create good-paying jobs and bring back jobs that have moved overseas.
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BETTER WAGES: We’ll work to increase wages and ensure workers benefit from a growing economy.
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INNOVATION: We’ll invest to promote domestic manufacturing and to empower our workers, who are the engine of innovation in our country.
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EDUCATION: We’ll ensure everyone has access to an affordable education to help get better jobs with higher wages.
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HEALTH CARE: Once and for all, we’ll ensure health care is a right for every American, not just the privileged few.