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Economy comes roaring back

By Rick Manning

Date:

Almost 5 million Americans got a job in the month of June, marking the second straight month of economic recovery after our nation’s economy was ravaged by the after-effects of the [corona]virus. Since the bottom of the temporary, but dramatic economic slowdown, almost 8.8 million Americans have gotten jobs (according to the U.S. Bureau of Labor Statistics household survey). That means almost one-half of the COVID-19 job losses have been erased since the two-month economic shutdown sidelined a little more than 17 million workers.

With many governors in states like New York, Illinois, and California effectively continuing to turn a blind eye to the economic ravages of the shutdown response, and many Americans remaining cautious about re-entering the normal day-to-day activities that were taken for granted in February of this year, it is almost a miracle that the our economy has risen so rapidly. 

As President Trump’s landmark ending of NAFTA, replacing it with the new USMCA trade deal with Canada and Mexico — which protects intellectual property, ends currency manipulation, allows more dairy products to be sold to Canada, and makes manufacturing in America even more desirable — took effect [July 1], the economic pieces are coming into place to create a robust second half of 2020. 

It is important to remember that from April 2019 to February 2020, fewer Americans were unemployed than at any time since January 2001, even though the civilian labor force was almost 22 million people larger in February 2020. 

The economy was very strong [before coronavirus]. Now, because of that underlying strength, the economy is recovering. Let’s hope that those Democrat operatives and their gubernatorial allies, who have publicly worried that a recovering economy helps President Trump’s re-election, for once put the economic well-being of the people above their petty political interests.      

Rick Manning is president of Americans for Limited Government (ALG). The organization says it is a “non-partisan, nationwide network committed to advancing free-market reforms, private property rights, and core American liberties.” This op-ed is drawn from a news release the ALG issued on July 2.

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