Dean Obeidallah: Democrats ceding 'good economy' talking point is a loser
Dean Obeidallah appeared on MSNBC’s AM Joy and made a very important critique on Democrats ceding the economic narrative to Donald Trump.
Dean Obeidallah correct on not ceding economic message
A few weeks ago I wrote a piece titled “Make the stock market record highs and low unemployment Trump’s failure.”
A meme about the stock market recently got my attention. It brought not only rage and tears but confirmation about what we must be fighting for now.
The meme was simple enough but poignant.
The next time you feel poor, and can’t fill your gas tank, and you hold back tears trying to put together a grocery trip that can get you and your family through the week on just $40, remember that the stock market is at a record high and America is great again.
Only a few are partaking of this “great economy.” Ask yourself a question. Why aren’t wages going way up with so little unemployment? Does supply and demand work no more?
It is not about economics 101 anymore. One should remember that when a resource is scarce, that resource increases in price. As such, if we are at full employment, it is clear that wages should be increasing at a high clip. But that is not occurring.
One reason wages are not increasing isn’t at all hard to infer. Many are made to believe that their jobs are not secure. You ask for too much then the threat of a factory move becomes a concern to employees,
It is clear we have a rigged economy. The population is manipulated to believe this is all they can strive for and anything different is on the fringe.
The message Dean Obedallah was trying to get across is similar.
“Democrats are ceding this idea that this economy is perfect,” Obeidallah said. “That Don has turned in a miracle.” In reality, Donald Trump is losing to Donald Trump, of a year ago when we had 3% GDP growth. Now we have under 2%.”
Dean Obeidallah continued making the case that Democrats should be making instead of acquiescing to the talking point about a great economy.
On wage growth, he said that while we have 3% wage growth, inflation is 2% which gives a real wage growth of 1%. On unemployment, he talks about the poorly covered job losses in the Midwest. And he wants all of us to remember that most Americans don’t have $400 in the bank to cover an unexpected or emergency expense and that bankruptcies are high.
Dean Obeidallah hits the nail on the head. One hopes the Democratic Party gets aggressive with the narrative and lean into the economy that really is not very good for most. They must also take note of a subject covered on Politics Done Right about the danger signs that could lead to an economic collapse.