President Obama’s critics have repeatedly cited the condition of the nation’s economy as the reason for a needed change in the nation’s economic policies. To hear some tell it, including GOP nominee Donald Trump, America is on the verge of collapse.
The problem with this line of attack is economic collapse is nowhere in sight. Millions of jobs have been created during Obama’s nearly eight years in office. The latest figures from the U.S. Department of Labor show an astounding 255,000 jobs were added in July with the unemployment rate hanging at 4.9 percent. The U.S. economy is strong.
North Carolina isn’t doing as well, despite Gov. Pat McCrory’s repeated claims of a “Carolina comeback.” Wilson’s unemployment rate is 8.7 percent; Rocky Mount’s 7.5 percent. In places like Goldsboro and Statesville and Kinston, there’s been no comeback. The state’s much improved since the Great Recession, but thanks to the single-minded aim of GOP lawmakers to cut taxes for the wealthy and for business, economic investment on the part of the state has remained flat.
A better economy is an opportunity to really do something for working families. Instead, legislators want to lower taxes for those who have the most at the expense of the needy and the state’s future.
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Correction: An earlier version of this editorial incorrectly stated the unemployment rates for Wilson and Rocky Mount.