Trump: Stock market will bounce back ‘very big’
President Trump discusses the impact of coronavirus on the U.S. economy and the potential for a payroll tax cut.
Some in the liberal media are painting the slowing of economic activity due to coronavirus as a taint on President Trump’s impressive economic track record. Their attacks are disingenuous and they know it.
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Throughout history and in every presidential administration, crises have occurred that are outside the White House’s control.
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The current short-term pain, which we hope will be mitigated via the economic package currently being proposed by the Trump administration, is certainly not the result of the president’s winning economic agenda.
In fact, in what can only be described as a historical series of wins, the Trump administration celebrated multiple hard-fought victories this past week that will significantly benefit American workers, innovators, and businesses alike in the long-term.
Even The New York Times had to concede that Trump was overseeing "blockbuster" job creation. 273,000 new jobs were added in February, bringing the 2020 total to over half a million. These numbers are up significantly from last year's average of 179,000 jobs, putting this year on pace to be one of the strongest of the decade.
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Adding to the good news was jobless claims numbers declining to 3.5 percent, a sure sign of a thriving economy. Not only are employers hiring more American workers, but they're also keeping them on longer.
And in an amazing display of just how resilient the Trump economy truly is, despite the short-term harm caused by coronavirus, jobless claims actually went down by roughly 4,000 this past week as compared to the week before, according to the Department of Labor.
With all the positive economic gains, most people would be quick to praise the president as delivering on his promise to make America great again.
Anyone expecting praise from the press will be holding their breath till hell freezes over but we know the truth. President Trump campaigned on the genius slogan, “Make America Great Again” and these numbers are yet another example of promises kept. But more important, he's already delivering on his second term pledge to keep America great.
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One of Trump’s core promises has been to drain the swamp – weeding out anti-competitive activity to level the playing field for U.S. workers and businesses.
By securing two major wins that can prevent a generation’s worth of intellectual property theft from U.S. innovators, last week served as one of the most impressive marks to date for the administration in this regard.
The president prevented China from winning control of the World Intellectual Property Organization (WPO) – the United Nations agency that protects patents and IP from theft in the global economy.
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This victory was crucial because China has routinely stolen U.S. innovators' intellectual property, costing the U.S. between $225 and 600 billion a year. While the administration has cracked down on it in the past by passing the USMCA trade deal, this move is far more crucial because it has solidified a pro-IP stalwart in one of the highest positions of authority for a full six years.
Separately, last week, the Court of Appeals also granted the administration a massive win with its groundbreaking ruling against Comcast, hailed by some as “the most significant crackdown against patent evasion in a generation.”
The cable behemoth repeatedly referred to as predatory by the president himself, knowingly stole IP from the TiVo Corporation for its set-top boxes.
It tried to sneakily avoid punishment from the International Trade Commission by shuffling the blame for the violations on their consumers and having another company manufacture and import the devices in question to avoid the ITC’s jurisdiction. The federal court rejected all of its inventive dodging techniques, which the owner of NBC and MSNBC predictably reiterated within its appeal.
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Far from merely putting the writing on the wall for Comcast’s other future IP decisions, the federal court’s opinion also represents a significant economic victory for all U.S. workers and innovators.
It will ensure that no company can deliberately jump through hoops to avoid IP law, which almost assuredly would have become a recurring trend should Comcast been allowed to set the precedent.
Millions of dollars’ worth of economic activity, and countless jobs and businesses across the country, have been protected as a result.
The liberal media can continue attempting to use this global pandemic as a vehicle to criticize the Trump administration; however, the truth is clear as day. This White House has and continues to deliver significant economic victories for the working men and women of this country which will long outlast any of the fleeting economic damage caused by the coronavirus.
It is cracking down on cronyism and crafting an economy that works for the average American worker today, tomorrow, and well after President Trump leaves office. The voters have taken note and will make their views known come November.
Andrew Surabian is a Republican strategist and an adviser and spokesman to Donald Trump Jr. He served previously as a special assistant to President Trump and deputy strategist in the White House.
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