Trump still getting credit for money he didn’t save, jobs he didn’t create

Donald Trump likes to claim credit for jobs he didn’t create, and for money he didn’t save. When it comes to the F-35 fighter, Donald Trump has claimed credit for chopping the price of the expensive jets and for bolstering the number of people working to build them.

“I have already saved more than $700 million when I got involved in the negotiation on the F-35,” Trump said Monday during remarks to U.S. Central Command at MacDill Air Force Base in Tampa, Fla.

The media has rushed to reprint those claims despite the fact that last week, Sen. Jack Reed made it clear that Trump didn’t deserve credit for savings on the F-35.

 “This is simply taking credit for what’s been in the works for many months,” Reed told CNBC in a telephone interview. “These are savings that would have happened anyway.”

Trump had nothing to do with

Continue reading “Trump still getting credit for money he didn’t save, jobs he didn’t create”

The Trump economy is going to hit Trump voters hard

If Donald Trump’s support really did come from his supporters’ economic anxiety, and not rage at uppity brown and black people, well … sorry, folks. You’re likely to take a hit. A lot of people got insured under the Affordable Care Act, for instance, and:

Odds are, a large number of those newly insured were Trump voters: An analysis by the Kaiser Family Foundation found that 6.3 million of the 11.5 million Americans who used the ACA marketplace to buy their insurance last year live in Republican Congressional districts.

Policy analysts say that a rollback of the ACA would hurt older and rural Americans — two populations that favored Donald Trump over Hillary Clinton in the presidential election.

And that trade war with Mexico Trump is itching to start by paying for his wall with a big tariff on Mexican imports?

“When you look at what Trump wants to do

Continue reading “The Trump economy is going to hit Trump voters hard”

Holding back the chaos of Trump’s Muslim ban brings together states, companies, and more

Even Republicans who were ready to climb on board Trump’s Muslim ban had to admit that there was one huge problem with their fear train: the actual implementation of the ban. It was made without any planning, any discussion with the people who had to enforce the action, and with conflicting guidelines on how to handle people who had lived in the United States for years, and was a recipe for chaos. So you might think that while the order has been suspended by someone rightfully called a judge, they’d think about how to address that.

Lawyers for Washington state and Minnesota have told a federal appellate court it would “unleash chaos again” if it lifted an order temporarily halting President Donald Trump’s ban on refugees and travelers from seven predominantly Muslim countries from entering the United States.

Last time the rules for students, family members, workers, and pretty much everyone else were so

Continue reading “Holding back the chaos of Trump’s Muslim ban brings together states, companies, and more”

Trump sells out retirees to Wall Street and removes protections against economic collapse

For over a year, Donald Trump repeatedly stated that his vast wealth made him immune to outside influence and warned against the power of a particular Wall Street firm.

During his campaign, Trump sharply criticized Democratic presidential nominee Hillary Clinton for not releasing transcripts of speeches she gave to Goldman Sachs and other Wall Street banks. He also accused Clinton and former Republican presidential candidate Sen. Ted Cruz of being controlled by Goldman Sachs.

But now that Trump has installed Goldman Sachs alumni in every corner of the White House, it’s time for him to show his independence by … rolling over with his belly to the sky.

President Donald Trump on Friday plans to sign an executive action to scale back the 2010 Dodd-Frank financial-overhaul law, in a sweeping plan to dismantle much of the regulatory system put in place after the financial crisis. 

What could be more

Continue reading “Trump sells out retirees to Wall Street and removes protections against economic collapse”

What do ‘the blacks’ have to lose under a Trump presidency? Actually, quite a lot

We are at the beginning of Black History Month and since we are also in the first month of a new presidency, it seems fitting to explore what impact the Trump presidency could have on black Americans. Trump only received about 8 percent of the black vote and recent research suggests that roughly three-quarters of blacks believe that race relations will become worse during his tenure. While it’s important to understand that blacks (not “the blacks” as he likes to call us) are not a monolith and hold diverse social and political views, it is probably safe to say that most blacks do not support or have faith in Donald Trump—with good reason.

Trump sold himself to the country as a successful business man who could bring back jobs. And while he has greatly exaggerated (or used the “alternative facts” that he and his administration are now known for) about the numbers of black unemployment,

Continue reading “What do ‘the blacks’ have to lose under a Trump presidency? Actually, quite a lot”

What do ‘the blacks’ have to lose under a Trump presidency? Actually, quite a lot

We are at the beginning of Black History Month and since we are also in the first month of a new presidency, it seems fitting to explore what impact the Trump presidency could have on black Americans. Trump only received about 8 percent of the black vote and recent research suggests that roughly three-quarters of blacks believe that race relations will become worse during his tenure. While it’s important to understand that blacks (not “the blacks” as he likes to call us) are not a monolith and hold diverse social and political views, it is probably safe to say that most blacks do not support or have faith in Donald Trump—with good reason.

Trump sold himself to the country as a successful business man who could bring back jobs. And while he has greatly exaggerated (or used the “alternative facts” that he and his administration are now known for) about the numbers of black unemployment,

Continue reading “What do ‘the blacks’ have to lose under a Trump presidency? Actually, quite a lot”

Trump inherits the Obama boom

If nothing else, during their eight years in the White House George W. Bush and company became experts at deflecting blame. After all, the likes of Dick Cheney, Condoleezza Rice, and Bush himself all chanted that “nobody could have predicted” the Sept. 11 attacks, the devastation of Hurricane Katrina, and so many other disasters that occurred on his watch. But it was in explaining away his dismal stewardship of the American economy where Team Bush continued to deploy the same talking point even long after Dubya departed the scene: it was all Bill Clinton’s fault.

Even before Bush took the oath of office, Cheney, Newt Gingrich, Dick Armey, and Sean Hannity all falsely declared that his administration “inherited a recession.” Even after Barack Obama was sworn in on Jan. 20, 2009, Bush’s first press secretary Ari Fleischer and former Cheney aide Mary Matalin continued to parrot lines like “I was

Continue reading “Trump inherits the Obama boom”

Lincoln’s heir

As American presidents enter their final months in the White House, they invariably focus on their legacies. That effort to shape history’s judgment invariably leads to comparisons to the greatest of them all: Abraham Lincoln.

George W. Bush and his amen corner certainly tried. In September 2006, Secretary of State Condoleezza Rice compared the three-year old Iraq debacle to the Civil War. “I know there were people who said, ‘Why don’t we get out of this now, take a peace with the South, but leave the South with slaves?’” Five months later, Rudy Giuliani explained that Lincoln had “that ability that a leader has—a leader like George Bush” to “look into the future.” The next spring, Vice President Dick Cheney similarly compared a “very courageous, very consistent, very determined” President Bush to Honest Abe, asking ABC News viewers to “think about what would have happened if Abraham Lincoln had

Continue reading “Lincoln’s heir”

America: Every GOP claim about the Obamacare economy was dead wrong, from jobs to wages to deficits

Fact Check: More Jobs (+15.7M), Rising Middle-Class Incomes (+$3K), Lower Deficit (-2/3rds)

That’s the true story of the Obamacare economy. But unless Democrats start speaking with one voice on the issue, Americans will remain much more familiar with the false “job-killing, wage-reducing, deficit-busting” myths Republicans have been spreading for seven years.

“It will bankrupt our nation, and it will ruin our economy! … This health care law … is already destroying jobs in our country.”  John Boehner, 2011

“We now know that Obamacare has been one of the single biggest drags on job creation since early 2010.”  Mitch McConnell, 2012

“[T]his is going to blow a hole through the deficit even more than we had already thought.”  Paul Ryan, 2012

“Obamacare is directly responsible for destroying jobs and lowering wages for workers”  Senate Republican Policy Committee, 2014

“It is

Continue reading “America: Every GOP claim about the Obamacare economy was dead wrong, from jobs to wages to deficits”

‘Obama Bear Market’ myth makers turn to ‘Trump Rally’

The Dow Jones has gained over 1,500 points (8.2 percent) since Election Day. That can mean only one thing: Republicans and their amen corner in the right-wing will proclaim the arrival of the “Trump Rally.”

And so it is. By December 12, Fox News crowed that the “skyrocketing” Dow was a sure sign of the Trump Rally. Two weeks later, a giddy Investor’s Business Daily compared the 20-day performance of other Presidents-elect and asked, “Can Trump revive Reagan’s stock market magic?” On Christmas Day, Fox Business host Maria Bartiromo agreed with Newt Gingrich that markets are counting on The Donald “to take the Trump rally on stock market and turn it into a Trump reality in the economy.” Media outlets including the New York Times, Washington Post, Fortune, CNN, the Wall Street Journal and more have cooperated in parroting the Trump Rally talking points.

Continue reading “‘Obama Bear Market’ myth makers turn to ‘Trump Rally’”

Too many people are stuck in part-time jobs, and it’s no accident

Six years into recovery from the great recession, not everything is recovering like it should be. Take part-time work. Actually, you might have to take it, given the number of people involuntarily working part-time out there. And according to a recent report from the Economic Policy Institute, the high level of involuntary part-time work isn’t cyclical, created by a lagging economy. It’s becoming structural—something employers are doing on purpose even though they don’t have to. A few fun facts:

  • The share of people working part-time involuntarily remains at recessionary levels. In 2015, there were 6.4 million workers who wanted to work full time but were working part time, accounting for 4.4 percent of those at work; this is roughly 2.0 million more involuntary part-time workers, or a 1.3 percentage-point increase in the rate of involuntary part-time employment prior to the recession. In fact, data from 2007 to

    Continue reading “Too many people are stuck in part-time jobs, and it’s no accident”

Cartoon: The Republican guide to screwing the working class

Follow Jen on Twitter at @JenSorensen

Imagine the headlines if Obama rewarded Carrier for shipping 1,250 jobs abroad

So after a week of hearing about popular-vote loser Donald Trump “saving 1,000 jobs” in Indiana, we’re seeing the reality trickle out little by little. 

We know that of the 1,100 jobs Trump claimed to have kept in the country, 350 were white-collar R&D jobs that were never going anywhere. We know that Trump bribed Carrier with $7 million. We know that 550 jobs from that Indianapolis plant are still being shipped to Mexico. And we know that another 700 jobs at a separate factory in Huntington, Indiana, are also being shipped off to Mexico. 

So imagine the headlines if President Barack Obama had tried to pull the same stunt?

Obama gives Carrier $7 million in taxpayer dollars, Carrier still ships 1,250 jobs to Mexico!

And the thing is, that headline would be accurate, unlike the shit headlines Trump is getting today. 

Fact is, the fakest news is

Continue reading “Imagine the headlines if Obama rewarded Carrier for shipping 1,250 jobs abroad”

Amazon’s robot store is why Trump won

Actually, that’s not true. James Comey’s ego is the most direct factor in Trump’s win, followed by Putin’s hacker army, but for those who insist on going to the “white working class feeling hopeless” angle, then yeah. This. This is the wellspring of that problem.

Call it Amazon.com’s driverless store.

The tech giant has built a convenience store in downtown Seattle that deploys a gaggle of technologies similar to those used in self-driving cars to allow shoppers to come in, grab items and walk out without going through a register.

Amazon is planning up to 2,000 of these stores. If their automation system works, don’t expect them to be alone. There are over 150,000 convenience stores in the United States, employing 2.3 million Americans. What Amazon is doing isn’t a threat to those jobs, it’s a promise. Those jobs are going away. So are the 1.7

Continue reading “Amazon’s robot store is why Trump won”

Hoosier Daddy? The man who really delivered the jobs in Indiana

For much of the past week, President-elect Donald Trump boasted about saving 1,000 jobs at the Carrier air conditioning plant in Indianapolis, Indiana. Representing only about half of the positions candidate Trump promised to protect from relocation to Mexico, the murky Carrier deal appears to be a one-off bargain combining the carrot of state tax breaks with the potential stick of retaliation against the manufacturer’s parent company, defense contracting giant United Technologies. For UTX, it was a small price to pay for some favorable PR. For its part, the Obama administration begrudgingly gave credit where credit is due, with press secretary Josh Earnest acknowledging, “This is good news and, obviously, we’d welcome that good news.”

As it turns out, the Obama White House has good reason for its lack of enthusiasm. For starters, as economist Justin Wolfers pointed out, “Every savvy CEO will now threaten to ship jobs to

Continue reading “Hoosier Daddy? The man who really delivered the jobs in Indiana”

Government: Economy gained 178,000 new jobs in November; unemployment rate at 9-year low

The Bureau of Labor Statistics reported the U.S. economy had net gain of 178,000 new non-farm jobs in November. The numbers come from the Current Employment Survey of 146,000 business establishments and government agencies.  Of the total, 156,000 were private-sector jobs, 22,000 in the public sector. While this was an improvement over recent months, it was far below net job gains the previous three Novembers. And more people left the civilian workforce than got jobs.

While within expectations, this makes the expected Fed boost in short-term interest rates at its December meeting more iffy.

Compared with last November, nominal wages for private sector workers were up by 2.5 percent, a rate slightly exceeding inflation. But this was a decline from the October to October numbers, when the increase was 2.8 percent. In fact, average wages for all private-sector non-farm workers fell 3 cents an hour.

The headline unemployment rate—which the

Continue reading “Government: Economy gained 178,000 new jobs in November; unemployment rate at 9-year low”

Here a conflict, there a conflict, everywhere a conflict of interest—a blind trust is not enough

In the middle of the ongoing Cabinet Apprentice series, the Man in the Trump Tower paused to spend some time with business partners from India to discuss leveraging the White House.

The three Indian executives … have been quoted in Indian newspapers, including The Economic Times, as saying they have discussed expanding their partnership with the Trump Organization now that Mr. Trump is president-elect.

Trump’s first phone call with the Argentinian president is reported to have gone beyond political congratulations.

 A report in La Nacion said Trump asked President Mauricio Macri for help with permits at a much-delayed office building project in central Buenos Aires. The newspaper quoted one of the country’s most respected journalists, Jorge Lanata, who did not quote a source.

Trump’s meeting with UK politician Nigel Farage not only generated outrage when Trump called for his fellow white nationalist to be named as UK Ambassador to the

Continue reading “Here a conflict, there a conflict, everywhere a conflict of interest—a blind trust is not enough”

Trump voters: Here’s what you’ve won

So a former reality TV star won the 2016 presidential election on Tuesday.

While deeply disturbing, that victory by Donald Trump was somehow altogether fitting. After all, as research from Harvard revealed, throughout the 2016 election cycle “policy issues [were] nearly absent in presidential campaign ‘coverage.'”  Even during the four weeks surrounding the parties’ nominating conventions, policy stories represented only 8 percent of the media coverage surveyed (13 percent for Trump and only a paltry 4 percent for Hillary Clinton). Instead, scandals, gaffes, unexpected revelations, horse race coverage and other “medialities” represented more than two-thirds of the reporting from the 10 media sources studied. Ultimately, the “policy-free” 2016 election was a lot like the first season of CBS reality game show Survivorthe surprise winner was Richard Hatch, an off-putting, conniving white guy few viewers liked—and even fewer trusted.

Now that Clinton has been voted off

Continue reading “Trump voters: Here’s what you’ve won”

Elizabeth Warren is ready to work with Trump to help working families. She’s also ready for a fight.

Sen. Elizabeth Warren spoke to the AFL-CIO executive council on Thursday afternoon. Her message, in the wake of Donald Trump’s election: If Trump meant what he said when he claimed he’d stand up for working people, she’s on board. If he didn’t mean it, if he’s going to sell out working people, he’s going to have a fight on his hands.

Tuesday night, Trump “pledged he’d be president for all Americans,” she said, and “I sincerely hope he will fulfill that pledge.” If he doesn’t, “that marks Democrats’ first job in this new era. We will stand up to bigotry. No compromises ever on this one.” But, she continued, bigotry and hate weren’t the only reason people voted for him. Many voted for him “out of frustration and anger and out of hope that he would make real change in this country,” and “we should hear that

Continue reading “Elizabeth Warren is ready to work with Trump to help working families. She’s also ready for a fight.”

Donald Trump and Paul Ryan are going to brutalize the working class—and the middle class, too

Donald Trump, economic populist. We’ve heard a lot about the concept. But what will the policy reality be? 

There’s a lot we don’t know. Trump’s own policy statements have been confused and contradictory at many points, and we don’t know how much he meant any of them, to what degree he’ll expect to get his own way, and to what degree he’ll serve as a rubber stamp for a Republican Congress. But we know enough that if you’re not already feeling physically sick, thinking about them should remedy that. There’s Obamacare repeal, of course, which will take health coverage away from more than 20 million people. But there’s more. Will Trump actually enter a trade war with China? We don’t know, but he could!

One of Donald Trump’s most consistent promises is to impose massive tariffs on goods from other countries, including a tariff of up to 45 percent on

Continue reading “Donald Trump and Paul Ryan are going to brutalize the working class—and the middle class, too”