Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Trump's greatest vulnerability is the economy – just ask poor Americans

Rather than offer a report on the State of the Union, Donald Trump used his annual primetime slot in the House of Representatives to host a re-election rally. The House speaker, Nancy Pelosi, summed up the sentiment of the House majority when she stood behind Trump and ripped the text of his speech in half. “I tore up a manifesto of mistruths,” she later said. But of all the lies he told, the president is proudest of the economy he claims is booming.
Poor and low-income Americans know that the economy is, in fact, his greatest vulnerability. Yes, the Dow is at a record high and official unemployment rates are lower than they have been in decades. But measuring the health of the economy by these stats is like measuring the 19th-century’s plantation economy by the price of cotton.

However much the slaveholders profited, enslaved people and the poor white farmers whose wages were stifled by free labor did not see the benefits of the boom. In America today, 140 million people are poor or low wealth. While three individuals own as much wealth as all of them put together, the real cost of living has soared as wages have stagnated.

Since the 1970s, the number of people who are paying more than a third of their monthly income in rent has doubled, and there is not a single county in the nation where a person working full-time at minimum wage can afford to rent a two-bedroom apartment. Sixty per cent of African Americans are poor or low-income, as are 64% of Hispanics, but the largest single racial group among America’s poor and low-income – 66 million Americans – are white.

Every day in America roughly 700 people die from povertyWhile Trump stirs racial fears by attacking “sanctuary cities” and black political leaders, there are more white Americans who are unable to meet their basic needs than at any time in this nation’s history.

Every day in America roughly 700 people die from poverty. When seven young people died from vaping, Trump called it a national emergency. But for the past four decades, Republicans have racialized poverty while Democrats have run from it, adopting euphemisms like “those who aspire to the middle class” to talk about poor people.

By accepting the lie that everyone does better when the economy does better, both parties paved the way for the extremism of a plutocratic presidency. We know that elites whose stock portfolios and personal taxes have benefited from the Trump tax cuts are going to stand by this president. But those people are an extreme minority – a literal plutocracy – in this nation.

The question in 2020 is not whether Trump’s most ardent supporters will stand by him, but whether Democrats will embrace an agenda that can inspire poor and marginalized people to engage in a political system that has simply overlooked them for decades. Even if Trump doesn’t lose a single vote from 2016, we know he lost the popular vote by more than 3m and won the electoral college by 77,000 votes across Wisconsin, Michigan and
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
×