Elizabeth Warren explains the rraud behind the Trump economy.
Sen. Elizabeth Warren explained that Trump’s “booming economy” isn’t really booming because the Trump administration policies are making life worse for most Americans.
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Warren was asked if Democrats were making a mistake by nominating far left candidates, by MSNBC’s Stephanie Ruhle, and she answered:
Look, Steph, I believe in markets. I believe in markets right down to my toes. But I also believe markets have to have rules. Otherwise rich and powerful just keep sucking up all the value and everybody else ends up eating dirt. I really have to push back on the premise of your question. I think that big parts of this economy are not working — For the American people.
Look, there was a time when Wall Street numbers reflected that the economy overall was doing well. But not so much when not many people own shares of stock, and when corporations are doing well, they no longer share with their employees. There was a time when saying, hey, the unemployment rate has gone down, that’s a great thing. But, you know, when people are working at minimum wage jobs that won’t support them or they’re working two, three, or four jobs to try to pay the rent and keep food on the table, then simply saying the unemployment figures have gone down just doesn’t get you there.
The way I see this is the lived experiences of most hardworking Americans across this country are not improving under the trump administration. What’s happening to them is, they’re still stuck with flat incomes and rising core expenses. And the trump administration is helping drive up those expenses. I’ll give you two examples. One on health care. The trump administration has withdrawn federal support to try to keep the price of health insurance low. We’re going to watch people all across this country paying more and more on health insurance in August and September. Big increases are coming. Another one is on education. Betsy Devos sits over at the department of education, and what does she do? She helps enable the student loan outfits that takes advantage of our kids. She helps enable the for-profit colleges that cheat our young so the way I see it, hard-working families, like the kind of family I grew up in, right now they’re getting squeezed harder and harder.
Sen. Warren was highlighting the distinction between having a job, the unemployment rate, and having a good paying job that allows a family to keep up with rising costs. Trump economic boom argument ignores the fact that for most Americans, the economy is not booming. Wages are not keeping up with increasing prices for everything from gas to food to health insurance. Thanks to Trump’s policies, the American people are spending more on necessities than they did a few years ago.
The economic numbers look great on paper, but the reason why Trump’s approval rating is in the dumpster and this issue won’t help Republicans in the midterm election is because people don’t feel like they are prospering.
The majority of Americans see a Republican-run federal government that doesn’t care about them and is making their lives worse.
The Trump economic boom is a fraud that isn’t going to fool voters on election day.
For more discussion about this story join our Rachel Maddow and MSNBC group.
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