What’s a real Trump in his people’s mind?美国人心中的特朗普究竟是什么样的人？ 时间:2018-07-08 单词数:2680
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America’s president is not the architect of American strength. But in the short term, things will go his way.
There is often more fakery than truth in a tweet from President Donald Trump. But on one subject he is broadly right. America’s economy is in good shape. Business confidence is high. Jobs are plentiful.
Last month non-farm companies added 228,000 workers to their payrolls.
The unemployment rate is 4.1%, the lowest figure for more than a decade.
The availability of jobs is drawing more of the working-age population into the labour force.
Wages are growing in real terms with some of the biggest gains going to low-paid workers.
Mr Trump over-eggs things, of course.
He claims each good jobs report and each new peak in the S&P 500 as his own achievement.
In fact, he was lucky in his inheritance. The market has risen by 25% since his election, but is up by 195% since 2009. The unemployment rate fell from a peak of 10% to 4.7% under Barack Obama and then to 4.1% on Mr Trump’s watch.
His administration says that a mix of deregulation and corporate-tax cuts will spur sustained GDP growth of 3%, well above the 2% average of recent years.
As the economy approaches full employment, an astonishing pickup in productivity would be needed to accomplish that.
But Trump-bashers overstate their case, too. They dismiss the optimism of consumers and bosses as sentiment, not substance. They warn that the stockmarket is dangerously overvalued and that America’s expansion, which is in its 102nd month, must soon falter.
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