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Tuesday, 14 April 2020

Ted Harvey: Trump Isn't 'Tanking' the Economy - He's Saving It

The coronavirus may not know the difference between political parties, but that isn’t stopping Democrats from exploiting the pandemic for political purposes.
Most recently, the radical leftist, anti-Trump #Resistance is using the “new normal” to position Democrats as America’s economic saviors. The way they see it, President Trump — and not an unprecedented global pandemic — is the reason for America’s economic downturn.
Priorities USA, a liberal super PAC, has launched an $8 million advertising campaign to expose “Donald Trump’s reckless disregard for the needs of the American people,” praising former Vice President Joe Biden’s “competent and honest leadership.”
Exactly what “leadership” has Biden provided? Lest we forget: In February, the day after President Trump implemented a ban on travel from China, Joe Biden gave America this embarrassingly hackneyed comment: “This is no time for Donald Trump’s record of hysteria and xenophobia — hysterical xenophobia — and fearmongering to lead the way instead of science.”
Now, in an effort to stay relevant, Biden hosts “virtual happy hour” livestreams that attract fewer than 3,000 viewers? While President Trump is coordinating with international leaders, state officials and public health experts, his Democratic opponent is working with digital staffers to become a YouTube influencer — and failing. 
Biden now has the temerity to say that “[Trump’s] failings and his delays [are] causing real pain for so many Americans.”
Barry Goodman, a Democratic National Committee member and Biden fundraiser, went even further: “He ended up tanking the economy worse than it ever could have been tanked.”
Really? Not a deadly virus that has infected more than 1.9 million people (that we know of) and claimed over 100,000 lives worldwide? Not a pandemic that shut down Chinese manufacturing and destroyed the world’s supply chain — one that even the Democratic Party and liberal media admit is “unprecedented”?
While the Democrats talk out of both sides of their mouths, President Trump is busy taking action. As part of his $2 trillion stimulus package, America’s small business owners — some of our most important job creators — gained access to over $350 billion in loans.
And they are taking advantage: 177,000 small businesses have applied to Bank of America for over $32 billion in rescue loans — almost 10 percent of the entire amount allocated by Congress.
More financial relief may be on the way too. Treasury Secretary Steven Mnuchin recently asked for an additional $250 billion in funding for the Paycheck Protection Program, while President Trump is calling for a payroll tax cut to open the economy “with a big bang.”
Is Joe Biden helping small business? Of course not. And the American people know it: 60 percent of Americans approve of President Trump’s handling of the coronavirus. This includes more than a quarter of Democrats, who disagreed with the Biden team’s assessment of the situation.
Alas, anti-Trumpers are giving a whole new meaning to Trump Derangement Syndrome.
Remember: In New York, it was Mayor Bill de Blasio who routinely downplayed the need for social distancing in the pandemic’s early days, calling for New Yorkers to “stay calm and go about [their] lives.” His health commissioner, Oxiris Barbot, even urged residents to “take the subway, go out [and] enjoy life.” 
They refused to listen to President Trump, and it put New Yorkers at risk.
Thankfully, most governors — Democrats and Republicans alike — have ordered residents to stay home. But, technically speaking, stay-at-home orders at the state level fall outside of President Trump’s executive purview.
Democrats can’t blame the Trump administration for “tanking” the economy while they simultaneously discourage Americans from going outside and shopping at local businesses. Democrats are essentially advocating for a stop to consumerism and then scapegoating President Trump when consumers stop consuming.
This is not to say that stay-at-home orders are necessarily inappropriate. To the contrary, we do need to limit our nonessential activities and “flatten the curve” to contain the coronavirus’ spread. But let’s be clear: A global economic collapse initiated by a virus that originated in China is what drove the downturn in the United States — not President Trump.
Fortunately, anti-Trump talking points are falling flatter with each passing day. The stock market continues to rally, as investors regain confidence in economic projections. After dropping below 19,000 points in late March, the Dow Jones Industrial Average has surpassed 23,000 points once again. It is now on track to reach and surpass its February high of 29,500 in the coming months.
In other words, the U.S. economy is bouncing back, America is “flattening the curve” and President Trump’s pandemic response is working.
What we need is patience and faith in America, and in ourselves. The Democrats’ “politics as usual” will get us nowhere.

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