By now, you may have seen Democratic Leader Nancy Pelosi’s (D-CA) recent sarcastic comments in response to the lowest unemployment rate in half a century. “Hip, hip, hooray,” she said, going on to say that America’s workers are thinking, “I need a bigger paycheck.”
Now, we get it. The economy is on a roll. All those predictions of tax reform leading to “Armageddon” and “the end of the world” didn’t exactly pan out. So, naturally, why say you were wrong when you can pretend to still be right?
Just this morning, for instance, we got word that, with the help of tax reform, small business optimism has hit its highest level in more than 30 years. Expectations for increased sales are the highest in more than 20 years. And—wait for it— “reports of compensation increases also hit their highest in the history of the index.”
All this matters because, as is often said, “small businesses, as we know, are the backbone of our economy.” (Leader Pelosi’s words, and good ones too.)
There is this from Joint Economic Committee Chairman Erik Paulsen (R-MN):
“Average hourly earnings for rank-and-file production and nonsupervisory workers in May 2018 were 2.8 percent higher than a year ago, the fastest increase since July 2009. Thanks to the Tax Cuts and Jobs Act and regulatory reform, American workers’ wage growth is finally approaching the previous expansion’s 3 percent average.”
This is not just data. After years of being stuck, these are American workers and American families getting ahead.
This isn’t to say we should be sitting on our laurels, and all that. That’s why we just enacted critical legislation to help community banks and unlock credit for Main Street. We are working on improving infrastructure, and making it easier to get people out of poverty and into the workforce. “We are never going to stop fighting to make our economy better,” Speaker Ryan said recently.
Closing thought: So perhaps a rebranding is in order for our friends across the aisle? They could go the Stanley Cup Bandwagon route, and put it in #ALLCAPS. They could go with a renaming gimmick, in the style of IHOP (hence the subject line of this e-mail.) Or they could turn to the experts who really have their finger on the pulse of the working families in this country. Oh wait, they’re already doing that:
Thanks for reading.