Michael Bloomberg Moderates’ Response to the State of the Union

It was the perfect speech to go along with Rush Limbaugh being given a Congressional Medal of Honor. In fact, it was by far the most disciplined speech I’ve ever heard from Donald Trump.

There was not one single mention of the Dems self-destruction in Iowa, nor was there a single mention of his impeachment. The speech was by far the best of Trump’s three SOTU speeches to date even if most of what he said in it was non-factual or misleading.

I won’t tackle the entire speech, just the economic portions on here because that in essence is what will probably get Donald Trump re-elected.

What Trump failed to mention in his speech is following the economic meltdown in 2008 was the fact the U.S. economy after the TARP stimulus package grew 200,000 jobs a month for 84 straight months leading into Donald Trump’s first term. It should also be noted that in Obama’s last three years in office the U.S. economy created an average of 227,000 jobs a months….which specifically has outperformed Trump’s economy these past three years.

When Obama took office after the 2008 meltdown the unemployment rate was approximately 9%. When Obama left office the unemployment rate was approximately 4.5%. When Obama left office he was still basically operating under the tax code changes which were put in place in 2001 and his annual budget deficits were hovering around the $500 billion plateau.

What Donald Trump failed to mention is following his corporate and individual tax cuts the U.S. is now and will continue to run trillion dollar debts for however long he is in office. The premise of the tax cuts was to free liquid capital and grow the economy at a minimum of 4-5% annual GDP growth. Obama left office with GDP flattened at around 2%. Trump’s GDP growth has registered at around 2.2%. If the economy doesn’t grow GDP at 5% then there is no rational explanation of how the U.S. even comes remotely close to running a balanced budget.

As far as trade and trade policies the U.S. in 2019 amassed a record trade deficit of $581 billion dollars plus paid an additional $18 billion dollar subsidy to the farmers who were specifically harmed by Trump’s own trade tariffs.

As far as the markets… Obama inherited a Dow down around the 6,000 mark when he entered the White House. As Obama left office the Dow hovered around the 16,000 mark. Under Trump the Dow has soared to just under 29,000 as of this morning. What basically has been created is more government debt which is offset by all this tax cut liquidity making the markets a flush with freed capital. But again is there real sustained growth in wages and in the average American’s monthly standard of living minus the current value of their 401k?

As far as the U.S. becoming the world’s leading oil producer that ironically occurred during Obama’s tenure when the fracking and horizontal drilling craze changed the U.S. oil and gas industry. As far as health care reform there has been none expect for the elimination of the mandates and as I write Trump is still trying to eliminate the Affordable Health Care Act which protects pre-existing conditions.

As far as how many times Trump lied in this speech I have no specific number. And given the fact the Dems are still trying to count the votes in Iowa I would guess they don’t care either. They can’t run a presidential primary process…so why would any of us expect them to hold Donald Trump to anything he does or says.

Having written this–if the Dems can pull there heads out of their asses just enough to realize that if they win the very same states Hillary won in 2016, plus Wisconsin, Michigan, and Pennsylvania they would defeat Trump by a slim margin and regain the White House.