Obama’s Broken Economy
• While the Obama Administration wants to muddy the waters with this week’s economic numbers, the fact of the matter is real Americans are still hurting more than ever.
• Our economy is going backwards under Obama. The latest GDP report was half of what was expected with our economy only growing at 1.2%, the 3rd straight quarter of growth under 2%. This is the weakest economic recovery since the Great Depression.
• The country’s labor force participation rate is still 62.8% the lowest since the 1970’s, the number of Americans who are unemployed, underemployed and given up looking for work has increased in July to 15.66 million, and incomes are either stagnant or declining for many Americans.
• All told 94.3 million Americans are now out of work, a increase of nearly 14 million since Obama took office.
• One of the most disturbing stats is that under Obama: the number of Americans living in poverty has increased by nearly 7 million.
• And even with all of this terrible economic news, Hillary Clinton still says that Obama deserves an “A” for his handling of the economy.
Mr. Trump’s Plan To Reinvigorate The Economy
• Mr. Trump has built his campaign around breaking up this rigged system in Washington and putting Americans back to work.
• Mr. Trump will be laying out his broader economic vision at the Detroit Economic Club keying on tax reform, regulatory reform, trade reform and energy reform.
• Mr. Trump will reform our tax code allowing trillions in offshore capital to return to America, as well as empowering Americans to invest in themselves and their communities with more money in their pockets.
• Mr. Trump’s regulatory reform will put a stop to the record breaking 600 major regulations we have seen under the Obama administration which has cost American businesses $743 billion. Removing this red tape will open up American businesses to economic growth.
• Mr. Trump has a 7 point plan to reform trade in America, including stopping the TPP on day one of his presidency.
• Mr. Trump also wants to unleash our energy potential by allowing America to fully utilize its natural resources, as well as encourage domestic energy over foreign sources.
• Mr. Trump’s economic reforms will require an overhaul of America’s excessively complex tax code.
• Mr. Trump’s tax plan will provide a variety of benefits to American families; this will be the biggest tax reform since Reagan was in office.
• The plan will reduce the number of tax brackets from 7 to 3, at a 12%, 25%, and 33% rate, for many Americans their tax burden will be zero.
• His plan will dramatically reduce personal income taxes, exclude childcare expenses from taxation, and end the death tax. All of these will allow parents more freedom to grow and improve life for their children.
• The plan will also limit taxation of business income to 15% for every business, which will make America one of the most competitive business climates in the world. Unleashing the American economy.
• Mr. Trump wants to reform the excessive regulations from Washington that are holding back the American economy.
• Since the start of the recession, nearly 6 million jobs haven’t been created due to restrictive regulations.
• Mr. Trump understands that government without oversight will continue its unstoppable growth. That is why he is issuing an executive order on day one of his Presidency which will place a moratorium on all new agency regulations, and require all federal agencies to prepare a list of all regulations on the books and suggesting regulations for repeal.
• Bureaucrats will be replaced with experts who know how to create jobs.
• Obamacare will be repealed and replaced.
• Many of the overzealous environmental regulations will be reviewed for reform, including the Clean Power Plan, Waters of the United States (WOTUS), and the moratorium on coal mining.
• Mr. Trump’s plan for trade reform will bring thousands of jobs back to America.
• Since China joined the WTO in 2002, slowed economic growth has cost Americans 20 million jobs.
• Unbalanced trade deals have decimated American manufacturing, and Mr. Trump is willing to renegotiate NAFTA, with leaving as an option on the table, and immediately withdraw from TPP.
• Mr. Trump will require the Commerce Department to prosecute all trade complaints, and label China a currency manipulator which gives foreign countries an unfair advantage over American businesses.
• Mr. Trump’s final pillar of economic recovery will unleash American energy potential.
• Mr. Trump wants to remove job-killing environmental regulations which have cost Americans in their utility bills, and forced the closure of many coal, and oil producers.
• Allow the Keystone XL pipeline to be constructed, which will send a signal to the world that America is serious about becoming the energy superpower of the 21st century.
• Continue the exploration of all America energy potential, including offshore oil fields.
• And immediately cancel the Paris climate agreements and stop all American funding of U.N. climate change programs.
• Removing restrictions on energy production from all sources will increase GDP annually by $100 billion, create 500,000 new jobs and increase wages by over $30 billion over the next 7 years.