After sneeringly dismissing the raises and bonuses many workers enjoyed due to the GOP tax cut as “crumbs,” House Minority Leader Nancy Pelosi is now desperately trying to put a negative spin on the latest eye-popping economic news.
A quick round-up: an unexpectedly high 223,000 jobs were created in May; unemployment fell to 3.8%, trying a record low set 49 years ago; in just one month, black unemployment plummeted from a previous record low of 6.6% to a new record low of 5.9 percent; and the Atlanta Federal Reserve just estimated that the recent quarterly GDP growth hit an annualized rate of 4.8%. That’s the kind of economic growth number that Barack Obama and his acolytes assured us was no longer possible, and that 1 to 2% growth was now the “new normal.” Turns out it was really just the old pathetic.
So when the economy under the Republicans is roaring like a lion in a Ferrari, how do the Democrats win over voters? They could renounce the kind of high tax, big government policies that kept growth stifled until recently, but they have no other platform. So Nancy Pelosi has taken on the unenviable task of trying to convince us that stupendous GDP growth and record low unemployment are just more meaningless crumbs.
Her spin is that the low unemployment numbers “mean little” to Americans who are struggling with the GOP’s “cruel, cynical health care sabotage campaign” (i.e., trying to root out Obamacare), which is “already spiking families’ premiums by double digits.”
I hate to bring this up – well, actually, I don’t – but under Obamacare, the bill Rep. Pelosi had to pass so she could find out what was in it, premiums were already spiking by double digits, and in some cases, triple digits. Plus Americans won't have to worry so much about premiums now that there are a growing number of good full-time jobs with benefits, which under the Democrats was like trying to find a MAGA cap in Barbra Streisand's closet.
Rep. Pelosi went on, “Democrats know that the American people deserve A Better Deal, with Better Jobs, Better Wages and a Better Future…We are committed to creating millions of new good-paying jobs and raising wages, lowering the soaring cost of living for families and giving every American the tools to succeed in the 21st Century economy.”
Wow, that sounds great! So…how are you gonna do that? By raising taxes on businesses? And if you know how to do it, why didn’t you do it when you had the chance? From 2008 to 2010, Democrats controlled both Congress and the White House. What they gave us was Obamacare, which along with other big government policies, helped depress GDP growth and hiring for years past the official end of the recession. It’s one thing to toss out cotton candy phrases like “Better Jobs, Better Wages.” But how do you plan to do that now when you seemed utterly incapable of it the last time you were in charge?
Personally, I’d say that anyone who can dismiss a two dollar-an-hour raise, a $1000 bonus, 4.8% GDP growth and record low unemployment as “crumbs” really takes the cake.