Monday, December 23, 2019

Recommended: Democrats’ 2020 economy dilemma, explained

Trump claims the U.S. economy is in the best shape it has ever been. It isn't. Democratic presidential candidates claim the economy is in terrible shape. It isn't. Cherry-pick the right statistics and you can prove any side of the argument. There is an article today in Vox.com by Matthew Yglesias entitled Democrats' 2020 economy dilemma, explained which does a pretty even-handed, data-based analysis of just where the economy really is, and it is worth reading.

The short version: yes, by and large the economy is in pretty good shape, better than it was under the Obama years. There is still inequality (there will always be some inequality, even under socialism!). There are still segments that are struggling (there will always be some segments that are struggling). Profits are still going disproportionately to the wealthy and powerful (that has been true throughout history in almost every civilization - nothing really new there).  But on the whole the U.S. economy is perking along just fine. So Yglesias argues Democrats would do better to acknowledge the fact and try to win on other issues.