It reminds me of the joke;
“Question: What is the difference between capitalism and socialism?
Answer: Under capitalism, man exploits man, while under socialism the reverse is true.”

https://apnews.com/f78f4205f474482db8bb8fa7a5ebfa2


WASHINGTON (AP) — President Donald Trump is exaggerating his role in bringing economic gains to black Americans.

Brushing off criticism that his tweets against nonwhite lawmakers are racist, Trump asserts that he’s done plenty to improve the fortunes of African Americans as seen by their low unemployment rate, while Democrats have done nothing. That’s not the case.

A look at the claim:

TRUMP: “The facts speak far louder than words! The Democrats always play the Race Card, when in fact they have done so little for our Nation’s great African American people. Now, lowest unemployment in U.S. history, and only getting better.” — tweet Sunday.


THE FACTS: Trump is seeking credit he doesn’t deserve for black job growth. He’s also wrong to assert that Democrats haven’t done anything to improve the economic situation for African Americans.

It’s true that black unemployment did reach a record low during the Trump administration: 5.9 percent in May 2018. It currently stands at 6 percent.

But many economists view the continued economic growth since the middle of 2009, when Democratic President Barack Obama was in office, as the primary explanation for hiring. More important, there are multiple signs that the racial wealth gap is now worsening and the administration appears to have done little, if anything, to specifically address this challenge.

African Americans also had higher income prior to the Trump administration. A black household earned median income of $40,258 in 2017, the latest data available. That’s below a 2000 peak of $42,348, according to the Census Bureau.

The most dramatic drop in black unemployment came under Obama, when it fell from a recession high of 16.8 percent in March 2010 to 7.8 percent in January 2017.

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AP Economics Writer Christopher Rugaber contributed to this report.

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https://apnews.com/f78f4205f474482db8bb8fa7a5ebfa2


WASHINGTON (AP) — President Donald Trump is exaggerating his role in bringing economic gains to black Americans.

Brushing off criticism that his tweets against nonwhite lawmakers are racist, Trump asserts that he’s done plenty to improve the fortunes of African Americans as seen by their low unemployment rate, while Democrats have done nothing. That’s not the case.

A look at the claim:

TRUMP: “The facts speak far louder than words! The Democrats always play the Race Card, when in fact they have done so little for our Nation’s great African American people. Now, lowest unemployment in U.S. history, and only getting better.” — tweet Sunday.


THE FACTS: Trump is seeking credit he doesn’t deserve for black job growth. He’s also wrong to assert that Democrats haven’t done anything to improve the economic situation for African Americans.

It’s true that black unemployment did reach a record low during the Trump administration: 5.9 percent in May 2018. It currently stands at 6 percent.

But many economists view the continued economic growth since the middle of 2009, when Democratic President Barack Obama was in office, as the primary explanation for hiring. More important, there are multiple signs that the racial wealth gap is now worsening and the administration appears to have done little, if anything, to specifically address this challenge.

African Americans also had higher income prior to the Trump administration. A black household earned median income of $40,258 in 2017, the latest data available. That’s below a 2000 peak of $42,348, according to the Census Bureau.

The most dramatic drop in black unemployment came under Obama, when it fell from a recession high of 16.8 percent in March 2010 to 7.8 percent in January 2017.

___

AP Economics Writer Christopher Rugaber contributed to this report.

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