US Treasury Secretary Jack Lew has some good tidings for all Americans: our economy is doing better now than when President Obama took office and that after much trial and tribulation, we have finally recovered from all the damage that the Bush Administration did to our economy. Mr. Lew appeared on FOX Business to say that
“where we are now, we’re seeing steady growth, we’ve seen enormous job creation over this period of time, we’re seeing the unemployment rate around 5 percent, and we’re seeing that growth in spite of the fact that there’s a lot of headwinds from a slower global economy.” ‘
While acknowledging the problems that still face our nation like a sky-high rate of income inequality and growing debts, he also noted that we’re in a much better place to tackle them. One of the most important issues that must be quickly resolved is the business tax code, which lobbyist and Republican meddling have sen spiraling out of control and depriving the government and our economy of much-needed revenue; as it is all being hoarded overseas by traitorous multinational corporations who care only for the wealth of their stockholders.
“The corporate tax code has so many loopholes that the statutory rate is among the highest in the world. As a result, companies are undertaking maneuvers such as “inversions,” in which companies move their legal addresses overseas. We have a broken business tax code, and I think that’s something that we have recognized for years and proposed tax reform…I hope we can sit down and work together in a bipartisan basis to deal with this.”
Indeed, there is still much work to do. But these pronouncements from the US Treasury are a welcome sign of progress to come and a celebration of achievements already made. President Bush left our nation’s economy in the gutter, for which President Obama has been constantly blamed. It’s time for people to recognize that no matter how many times Trump repeats his lies on television, the economy is in fact doing fine, the world is not about to end and President Obama has been one of the most successful presidents our nation has ever seen.
Please consider supporting the fund. Thank you!
Opinion columnist and former editor-in-chief of Occupy Democrats. He graduated from Bennington College with a Bachelor's degree in history and political science. He now focuses on advancing the cause of social justice and equality in America.