Economy thrives with Dem presidents
In 2004, now-President Donald Trump told Wolf Blitzer, “I’ve been around for a long time, and it just seems that the economy does better under Democrats than the Republicans.”
I thought I would never agree with anything this president has said, but it seems he is correct. Nine out of the last 10 recessions have occurred under Republican presidents. If you check out Politifact’s Truth-O-Meter, the graph shows the Democrats do much better on job growth, business investment, GDP and budget deficits.
Allan S. Roth, a financial planner and Republican, gives us an insight into the stock market under Obama and Trump. According to him, U.S. stocks gained 21% for the first two years of the Trump Administration. That translates into a 10% annual return, which is 0.5% points above the long range average. By comparison, U.S. stocks gained 71.2% in the first two years of the Obama Administration. When Roth explained that stocks soared under Obama, many people responded to him that stocks had to increase as he took over in a market plunge. Roth pointed out that if that were true, advisors didn’t know it and believed the opposite. He cited that 4,000 advisors in the TD Ameritrade platform allocated an average 26% cash and bonds at the market high on Oct. 9, 2007 and nearly double that to 51% on March 9, 2009, when the market bottomed. It is ironic that during all the stock market’s spectacular rise under Obama, corporations were under increasingly tough environmental regulations and thrived in spite of the increased regulation. We made substantial progress on carbon dioxide emissions, and under Trump and Republicans we are abandoning efforts by the government to save our planet.
Yes on Prop CC
Without raising taxes, we can improve school funding for K-12, community colleges and transportation infrastructure. As a lifelong Coloradan, former teacher and state representative of House District 50, and now as Colorado’s State Treasurer, I know we need to pass Prop CC. Our education and transportation infrastructure funding is dismal, as many of our schools around the state have switched to four day school weeks, and teachers can’t afford to live in the area that they teach in. Additionally, we have crumbling roads and highways that are not built for the 21st century, as our population continues to grow. In its first year, Prop CC would put an estimated $88 million to transportation projects around the state, and around $88 million to our K-12 public schools to buy new technology and attract qualified teachers, as well as making community colleges more affordable. Prop CC funds would have to be spent on these areas, and the state auditor must provide a financial audit of money to hold spending accountable. In the past, voters have approved similar proposals for school districts and local municipalities. Let’s pass Prop CC and bring back five-day school weeks, newer books and technology for students, and update our infrastructure. Vote yes on Prop CC by Nov. 5.
Colorado State Treasurer