The Democrats’ dirty campaigning about the economy

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Under there law, there’s a concept called “fraud by omission.” It means that the defrauding party withheld an essential part of the truth. No matter the surrounding truth, the hole created by the omission creates an overall lie. On the economy, the DNC committed one of the worst frauds by omission I’ve ever seen.

Let me start by quoting from the DNC War Room email I received today, ominously entitled “ICYMI: CNN: Trump’s job losses are the worst of any American president on record.” The email then reprints a CNN article.

…except that the DNC’s email doesn’t really reprint the article; it reprints just parts of it. As you read through the following text, ask yourself what the DNC cut with the highlighted ellipses. The missing text puts the lie to the entire email:

Trump claimed to be “the greatest jobs president that God ever created.” But in reality, he has the worst jobs record of any American president in modern history.

CNN: Trump’s job losses are the worst of any American president on record

By Chris Isidore
September 4, 2020

President Donald Trump is heading into the general election with the worst jobs numbers of any president, based on records that go back to World War II.

That’s not going to change in the two months between now and Election Day, no matter how the economy does.

The US economy is down 4.7 million jobs since January 2017 when Trump took office, according to the Labor Department.

The August jobs report released Friday showed employers added back about 1.4 million jobs, bringing the unemployment rate to 8.4%. That is still well short of what would be needed to give Trump a positive jobs record by November 3.

The only other President in the last 80 years to own an overall loss in jobs between his inauguration and the following Election Day was George W. Bush in 2004. That was because of the so-called “jobless recovery” after the recession sparked by the dot-com bust. But the loss of 605,000 jobs through September of 2004 was a fraction of the job losses that happened under the Trump administration.

President Trump has frequently boasted about his pre-pandemic jobs record. And he has promised that once the pandemic is over, the job gains will return.

But data show that his administration’s job gains before the pandemic were only average compared with predecessors.

There were 6.8 million jobs added between the inauguration and February of this year, a 5% gain from when Trump took office. Measured by percentage, that’s only the 11th best record out of the last 20 presidential terms. (Percentage gain is the best way to take into account the population growth over the last 80 years.)

The job rebound appears to be slowing, as many of the jobs that were easy to bring back are already back, said Mark Zandi, chief economist with Moody’s Analytics. If the job gains in August are in line with the 1.4 million forecast, that will be down from the 1.8 million added in July.

The first five paragraphs are explicit: the Trump presidency has been an economic disaster from January 2017 to today. Clearly, the president must go. But what’s hidden behind that first set of three dots? If you go to CNN, this is what you find:

To be sure, the bulk of the job losses in the Trump economy were precipitated by the shutdown orders associated with the worst pandemic in 100 years.

“I would say Covid-19 is one hell of an extenuating circumstance,” said Greg Valliere, chief US policy strategist for AGF Investments.

Oh, right! Democrats across America turned a two-week lockdown to flatten the curve in a half-year lockdown interrupted by economy-killing protests.

And what’s hidden behind the second ellipsis? This:

This doesn’t necessarily mean that Trump will be joining the ranks of unemployed.

The direction of the economy can be far more important than the raw numbers, said Valliere. That could be good news for Trump since in the last four months employers have brought back 10.6 million workers who were temporarily laid off earlier in the year.

“The direction in unemployment in all likelihood will be in Trump’s favor,” he said earlier this week. “If we get more than a million jobs added back on Friday and unemployment drops below 10%, you know he’s going to brag about numbers like that.”

Here’s the truth about the economy: we have a soaring stock market (which had an admittedly abrupt correction on Thursday) and an amazing recovery in the jobs market.

The DNC’s email is fraud by omission on a heroic scale. The best way, of course, to counter it is to deliver such an overwhelming victory to Trump that the DNC learns that these techniques don’t work.

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