Robert Reich: Trump’s Economy Revealed

Donald Trump and his enablers are hoping that a strong economy will help the American people look past the damage
that’s been done to America. That’s why Trump is constantly crowing about job
numbers and the stock market in order to paint a rosy picture of the economy. But
when you look closer the numbers reveal a very different story about Trump’s
economy. Number one: Wages are still stuck. The
median annual earnings of full-time wage and salaried workers in 1979, in today’s
dollars, was forty-three thousand six hundred eighty dollars. The median
earnings in 2018 was forty-five thousand seven hundred and eight dollars. So much
for the four thousand dollar pay raise Trump and Republicans in Congress
promised when they cut taxes for the wealthy and corporations. Number two:
While the unemployment rate is low employment is not nearly as good when
you consider how many people have given up looking for jobs. The labor force
participation rate — that is the percent of working-age Americans with jobs — is
the lowest it’s been since the late 1970s, when wives and mothers first began
streaming into paid work to prop up family incomes. Third: Many people are
working part-time jobs. Nearly four million Americans are stuck in part-time
jobs unable to find full-time jobs. Many of these part-time gigs are either
freelance or contract — offering fewer rights and benefits. Number four: A
growing number of college graduates are overqualified for their current jobs. One-in-ten college grads are underemployed, which is much higher than twenty years
ago. At the same time, the cost of college has skyrocketed with students going
deeper into debt to pay for their education. Forty-five million Americans now owe 1.6 trillion dollars in student debt. Fifth:
The cost of health care continues to increase. Since 2008, average family
premiums have soared fifty-five percent, which is twice as fast as workers
earnings and three times as fast as inflation. Prescription drug prices also
continue to rise, jumping almost 11 percent in the first half of 2019, alone.
Number six: Housing costs have skyrocketed. Nearly 39 million American
households are now paying more than they can afford on housing.
And more than one-in-four renters are spending over half their income on
housing. Number seven: Americans are going deeper into debt to stay in the middle
class. Consumer debts, excluding mortgages, has climbed to four trillion dollars,
which is the highest it’s ever been even after adjusting for inflation. So is
anyone benefitting from Trump’s economy? The wealthy and corporations have never
had it this good. In fact, 83% of the savings from the Trump Republican tax
cut will go to the wealthiest 1% of Americans, but most Americans are being left behind. The next time Trump and his enablers boast about the economy to
distract from the damage they’re really doing to America, know the truth. Their failed economic agenda has made Americans poorer and
less secure. What do you think? How’s Trump’s economy working out for you? Let us know in the comments. If you found this video informative, please also watch our video on the 7 Failures of Trumponomics. As always, thank you for watching and please subscribe to this channel for more videos like this one.

100 thoughts on “Robert Reich: Trump’s Economy Revealed

  1. Thank you for watching! If you found this video informative, make sure to watch our video on the 7 biggest failures of Trumponomics:

  2. In 2016, there were 200,000 homeless Americans. There are now 8000,000+ homeless Americans plus others uncounted are
    living in their vehicles.


  4. I can't believe how all of you are so blind to follow this hack like sheep to the slaughter. He has an obvious Anti-Capitalist Agenda. No Wonder Our Country Is Going To Crap!

  5. Andrew Yang is your answer, people, his UBI or freedom dividend proposal, and his democracy dollar policy will save America frim the ruin! just youtube Andrew Yang for more

  6. And that's why they call Spanky Don the Con he's been cheating the system for years 6 Bankruptcy's doesn't pay taxes this should have been a clue that he's a very poor business man especially since his dad left him millions BANKRUPTCY smgdh

  7. Theyโ€™ve convinced people the stock market means the economy is doing well. What they mean is the rich are doing well and that trickle down economics … that trickle is them pissing on the rest of us.

  8. I work as a typist for a common pleas court civil department. We can usually tell when the economy is going downhill. Divorces, dissolutions, and domestic violence goes up. Auto titles go down. Foreclosures go up. Liens go up. Medical malpractice and workers compensation suits go up. I tried explaining this to my family who was switching to and continues to support the GOP. Apparently, my job is one step up from fast food service so itโ€™s not a real job and Iโ€™m only 40 so I donโ€™t understand how the real world works yet.

  9. Hang on a 2k raise according to the numbers presented in point 1 is still pretty damned significant. Points 4, 5, 6, and 7 sure as hell didn't start under Trump. Even if 27% of tax savings goes to the other 99% that's still savings for everyone else. I agree fuck Trump. Let me double down….. FUCK TRUMP!!!! He should be banished to Elba and preferably tortured for the remainder of his life for his tenure thus fare in office. However, cherry picking numbers to compare doesn't make a very good case for how shitty he really is. You are far better then this Mr Reich.

  10. This corrupt man truly should be impeached it is not a political necessity but a national security issue and our tax $ being held hostage by a wannabe dictator True Patriots will be revealed during this impeachment investigation as our democracy is at stake I truly hope the Senate abides by their oath

  11. Glad i`m living in Denmark, not much to worry about, even if a economic crash hits the world we will still be better of than most Americans, those Americans who has moved here say they would have done it much sooner if they had known…

  12. Most americans aren't into doing deficient jobs, good amount of them, a lot to most, are skilled and we have standards that were set by previous generation. We are not here to go backwards. Trumps economy is a fucking joke. Feel alright to trade in human dignity and sleep for extra, fake notes? Go ahead. Its FUCKING UNAMERICAN.

  13. Yet these crazy brainwashed ass Americans will still run to the polls in troves to vote for the same mfs butt fucking them out of they American dream ๐Ÿคฃ

  14. Week late but shit.
    In 2015-17 I worked between 35-40 hrs a week my paycheck was about $720 per 2 weeks.
    Now i work 41-43 hrs a week my paycheck is $590 – $600 per 2 weeks. The only thing that changed besides my hrs I lost benefits.

    My trump supporting coworkers have suffered the same. But they have told me they don't care because it also hurts libtards. Yeah their worthless.

  15. Everything Brokeahontas the Bankrupter touches dies. The stable genius is doing the only three things he is good at, lying, grifting and losing massive amounts of money if not going bankrupt and bragging about what a brilliant businessman he is.
    Publishing The Art of the Deal while losing $1.7 billion dollars is a case in point.
    America is on his to do list.
    Genius at work. There again he doesn't know the meaning of work especially honest work.
    Fraud extrordinaire!!

  16. The funny thing is that everything he is saying about problems with the economy were true when Obama was president but he wasn't complaining about Obama. I am writing this while listening…. He's complaining about health Care cost which a large part is due to Obama care which Trump was trying to revise…. The part time and underemployment should clear up if we get Americans to buy products produced in America. I have said forever that Americans shot themselves in the foot buying goods from China for a quick gain that puts their neighbor out of work. Then that quick gain becomes a depressed economy. Again, that's something Trump is working against. Economists should be backing this stuff instead of complaining that something doesn't work when they are actively trying to make it not work. It's the old, "why are you hitting yourself?" game.

  17. All I know is that taxes keep going up and am very unhappy about it. How much money would America save if we were not involved in every country on earth's problems? We should try it starting now.

  18. I'm waiting to hear Trump's whining about how we started out by saying it's Obama's economy and have now switched to calling it Trump's economy.

  19. Family Farmers are going bankrupt and are committing SUICIDE.
    Because of Trump.
    National Family Farm Coalition.

  20. The story of Trump's economics is actually just an accelerated story of the advanced stages of corporate capitalism. Our country has peaked and slumped over the whole history of our capitalist country. But in my 78 year lifetime the lot of Americans has slipped from recession to recession, never quite recovering the losses from the last recession as we rise toward the next recession. Capitalism is a good way for the wealth of a nation to grow but not a good way to distribute that wealth to provide for a healthy and educated workforce. Now our workforce is becoming obsolete due to automation and offshoring. other tactics such as part time work, temporary work and non-union jobs and no jobsite education further erode the working person's security.

    Capitalism has become a race to suck the last penny out of the pocket of the middle class which was the hallmark of success that politicians cited every time they waved the American flag. The working class long ago gave up their wealth and power with the demise of the union movement. All the money that used to make American workers able to rise to lower middle class status is now in the bank accounts of extremely wealthy capitalists. But the ruin on a whole huge class of people was not enough for the rich and powerful. Now they are raiding the basic needs of the whole middle class which is experiencing a slipping standard of living as stated by Reich. Capitalism does not work for the success of a nation's people without strong regulation. A graduated income tax that is strong enough to take back enough wealth to provide for the standard of living of working people worked for FDR in the depth of the Great Depression. It can work today in the era of corporate greed and political corruption that makes deregulation of everything easy for corporations' top executives and investors to thrive off the infrastructure and workers.

    Dare I say some amalgam of capitalism, regulation and socialism might be the answer to the huge sucking sound drawing the wealth of our people into just a few bank accounts?

  21. US economy isn't doing so good. specially rate cuts, people who gets SSI, standard of lving goes up, while SSI stays same. sametime, inflation goes up faster because of trade war

  22. I am retired I had to wait to get my max social security at age 70. I can not afford a house of my own. Housing prices are unreal there is no affordable housing in my town. They are building every single place but the lowest a house in a safe area is about $300K way beyond my income level. Prices for food and other goods are outrages. Cars are beyone my reach even for a used vehicle. Resale on my car is so low I would do better gvining it away for a tax deduction. Well I always knew that someone who never had to earn his own way would not begin to know how to make the economy fair for everyone,. By the way I am 70 and will never begin to pay off my student loan which I couldn't even complete college to get a degree. It is sad that other countries give their citizens health care, and time off and yet we the richest country can't help our citizens even have the chance to make their lives better. And yet we wonder why we have welfare etc. Yet we have medicare which is what they call socialized health care. Must get at 65, taken out of your SS $ ironic and congress has the best care Americans can pay for for them. What a wonderful world .

  23. Americans are working paycheck to paycheck, most with little or no savings. Wages have been stagnant for decades and yet costs continue to increase, most notably health care costs. Employment numbers are deceptive at best. The largest deficit in our country's history. And Trump has the audacity to proclaim that he has produced the greatest economy in the world. Absurd! He's only been president for two years. I guess if you're among the wealthiest 5%, then the economy is great.

  24. So what we gonna do about it beside talk? Everyone talking but no action and don't give me that BS about the Democrats they are the ones that destroyed health care

  25. Dude you as accurate as when you worked for Clinton. The student debt is what you get when Obama federalized it. I'm middle class and everything is getting better for us every day.

  26. Finally, an academic economist who is telling the truth! Capitalism cannot survive this. If there is no one who can afford to purchase the products – there is no reason to make them. Extractive Darwinian Capitalism has ruined the ecology of the plannet – where we all live.

  27. Mr Reich,
    Yes we are in trouble, because itโ€™s going on since you work for Clinton, Obama and want to blame Trump.
    During Obama administration you never expose the problems in America for the American people, and now you want to talk about our President. You are a disgrace to our nation, and we are going to fight working day and night to make our nation prosper again!!!!!
    Keep helping all these politicians democrats socialist radical so they can bring chaos into our immigration system, and welfare for supporting free everything!!!!!! Today nobody wants to work but they want everything free. That reminds me Cuba, Venezuela. Go and work with them because youโ€™re not worth to live in our nation you traitor to our nation!!!!!

  28. 2:33 HA! I've got you BEAT! My income is $1200 a month while my rent is $1014! Which is close to 85% of my expenses if I remember how to perform math right.

  29. This guy is not only failing in USA its also destroying world supply systems.

  30. Give Trump a chance. It is going to take years before the damage that has been done in the past ,to be undone. At least ten years at the best. This is with Trump. With out Trump it wont get done. He is the best thing going for the USA. God bless America and Donald Trump, with out him we would all have to learn Chinese to survive into the future.

  31. You are absolutely right. My daughter is working in a job she is over qualified to do. She is in debt that she should not have to pay back it's over kill.

  32. Thank you. You summed things up nicely. This con man is lining his pockets and tearing done democracy. I never thought I would hear an American president speak of treason, allude to execution, and invite civil war. This is not what we are.

  33. I make 75k in Texas. Taxes really didn't change much for me. But the cost of everything has gone up so much under Trump, I'm having a hard time.

  34. so americas problems are because of a tax cut that cut my taxes and killed the obamacare poor people individual mandate
    nice try

  35. Do you have to stand on a stool to turn the pages on that board? Housing starts are up due to removing Obama regulatory requirements. Fam of 4 making $100k pays zero tax. zero. Run the estimators. see for yourself. normalizing the number for immigration shows payroll up. We do have a silver tsunami and more people are retired, but still more people are working now than in the last 50 years. Do the Dems ever get tired of losing?

  36. Wages up 3 percent thus year, 159,000,000 employed and under 4 percent unemployment. Obama screwed us on health care premiums.

  37. Started my own business this year to escape a republican boss who praised Trump while not insulating houses. We had a good relationship while I was working for him for two years we're talking 6 days a week sometimes 10 hour days no overtime. This year I'm doing ok but probably don't show up as unemployed for the nearly two months of the year I couldn't find contracts to work. And then there are the jobs I take at shit prices just to have food money coming in and to pay my school loans.

  38. Why do we need politicians if they are not effectively running the country? Most of them are only in it for the money and power, you and I don't matter one bit.

  39. And, you are a lying sos, working for ds and globalists. We don't buy the talk anymore! Haven't you heard??? Plus, you all are screwed, know it, and will say anything to keep the world from knowing "who" and "what" you are! You're just another rotten "one of them"!!!-

  40. if your a trump supporter in 2019, you HAVE to be a fucking idiot or rich AND a racist, who will overlook anything to be a hateful asshole.

  41. I paid more in taxes than before the so called tax break to America. The system has changed to benefit the very wealthy.

  42. Your right put obama back in and let him refix everything, it was all perfect when he was robbing the country blind. This clown is telling all of the same things that have been for decades.

  43. Not work for me ,good cost more ,farm products, cattle are below cost to raise them, all investment I own he has directly attacked the company's, Ford, Qualcomm.


  45. I can't say it surprised me. I've always said that Trump would never do anything that wasn't first good for Trump and his buddies. I think we need another FDR along with another 'new deal' to fix this mess.

  46. I keep rewatching this video over and over again. People are fooled by the big picture but doesn't investigate the little things. Sad.

  47. To be fair, just like all of the good that's a carry over from the Obama admin, so is all of the bad. But yes, the tax cuts did nothing but hurt the US' ability to invest in its own needs.

  48. So now china is in Drivers Seat.
    Trump is the biggest shit I have ever seen in my life. He spit,ย  then he Love to Lick it. One of the disgrace so called 4 millions less vote President.
    Wanna fight with China,ย  do it. 100% tarrif on all goods from today.
    No negotiations unless china agree to agree on all US terms, period
    We the United States have leverage big time over China.
    China is the biggest criminal country in the world. A theif and a cold blooded murderer communist crap criminals. Time to finish China communism criminals. Iran or Taliban are not our true enemy, China is.
    Or just keep Licking China Shit and Shut up.

  49. screw the economy, cash only when buying. forget working for free, they can keep the overtime. Get by with less. new choices that favor you.

  50. Trumps tarrifs are trashing the world economy, including the US economy.
    And his propping up of dinosaur industries like steel, coal, oil, traditional cars combined with pushing back new industries and denying climate change are all setting the US up to become a backward failed nation.

  51. 167 dislikes are TrumpTURDS who canโ€™t handle the truth that the mongoloid in chief inherited the bustling economy from Obama.

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