Opinion | The Economy Is Not as Good as It Looks – By Steven Rattner – The New York Times

By

Mr. Rattner served as counselor to the Treasury secretary in the Obama administration.

 

 

Credit…Brendan Smialowski/Agence France-Presse — Getty Images

“Every few days, fresh economic statistics roll out, each one almost invariably reinforcing the perception of a solid economy. In his State of the Union address on Tuesday night, President Trump reinforced that impression — and took credit for it.

He has ammunition. According to calculations by J.P. Morgan, Mr. Trump is the beneficiary of the strongest economic tailwind of any incumbent running for re-election since 1900.

But Democrats shouldn’t despair. While overcoming that tailwind will be a tough challenge, the economy isn’t as good as it looks. Equally important, on balance, Mr. Trump has had little to do with its continued expansion, providing several lines of attack for the opposition, as follows:

The Trump recovery is merely an extension of the Obama recovery. Yes, we’re adding jobs every month, and yes, the overall economy is growing. But the performance of both of these key headline indicators has not been anything for the president to brag about.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s