President Donald J. Trump addresses his remarks to the Economic Club of New York Tuesday, Nov. 12, 2019, at the New York Hilton Midtown in New York. (Official White House Photo by Shealah Craighead)
President Donald Trump gave a speech on Tuesday to the Economic Club of New York. As Charles Gasparino writes for the New York Post, the president’s delivery was a little stiff, but what he said should win him reelection in 2020. Trump outlined his battle against the “unethical regulatory assault on American people,” by deep state “bureaucrats.”
During his time in office, Trump has fought hard to relieve the burdens of regulation on American businesses and has been rewarded with strong economic growth and middle-class wage growth that eluded Barack Obama. Gasparino writes (abridged):
No one is going to confuse President Trump’s remarks Tuesday at the Economic Club of New York with anything approaching eloquence. He is at his worst when he stiffly reads the teleprompter.
The speech was … delivered against the backdrop of the strongest economy in years, and not just for the rich. Trump rightly pointed out how, through tax cuts and regulatory rollbacks, jobs are growing, and so are wages.
He’s done much better than his predecessor. Yes, President Barack Obama inherited a financial meltdown in 2009, but he also produced an economy that had middle-class incomes plummeting to levels not seen in years.
Wall Street flourished under Obama, while the wealth and wages of average Americans stagnated. Trump has delivered what Obama couldn’t on the economy.
As Trump pointed out, the Congressional Budget Office projected that fewer than 2 million jobs would be created by this time in 2019. He delivered 7 million. People aren’t leaving the workforce in droves as they did in years past; they’re coming back in.
Trump was most impressive when he explained how excess regulation has contributed to the hollowing out of Middle America. My guess: He was influenced here by his economic aide, the free-market guru Larry Kudlow, who was sitting at his side during the speech and has made a career exposing how nanny-state regulators have stifled the animal spirits of our economy in ways that hurt ordinary Americans.
Trump called it an “unethical regulatory assault on American people,” carried out in large part by “bureaucrats” who would gain new strength under any of the Democrats running for the 2020 nomination.
Charles Gasparino is a senior correspondent at Fox Business Network.
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