Vote for Donald Trump this November to ensure an economic miracle

The question that Americans will be asking themselves when they go to the voting booth in November is: Am I and my family better off than we were before Joe Biden? This was the question Ronald Reagan asked more than 100 million Americans at the end of his famous debate against Jimmy Carter in 1980. Reagan won in a landslide. Are Americans better off today than under Donald Trump? My forthcoming book with Arthur Laffer called “The Trump Economic Miracle” shows that the answer for the vast majority of middle-class Americans is: Hell no. Here’s one basic kitchen-table issue that encapsulates the grand failure of Bidenomics: As a result of runaway inflation that reached 9.1% in the summer of 2022, the average family income — after taking price inflation into account — has fallen by $2,100 through May 2024. That is, most Americans are poorer in their real take-home pay. What happened to incomes under Trump? Nearly a $6,000 gain.That’s an enormous $8,000 swing from Trump policies to Biden policies as measured by what typical Americans can afford to buy each year. What about economic conditions for minorities? Under Trump, the poverty rate reached record lows and incomes hit new highs for blacks and Hispanics.Under Biden, the official poverty rate has risen for minorities and their incomes have shrunk. Then there is the issue of achieving the American dream of home ownership. Under Trump, thanks to low mortgage interest rates that fell to 3%, home affordability soared.

Under Biden with mortgage rates soaring to above 7%, affordability fell to its lowest level in 30 years. Young couples can’t afford homes to start a family.Monthly mortgage payments to buy a median-value home have nearly doubled in less than four years.

Thanks, Joe.  How are families making ends meet? For many, they aren’t.They are falling further into debt.

Credit-card debt in the US now has a one and 12 zeroes: $1,000,000,000,000 ($1 trillion) owed. Laffer and I have examine...