Tuesday, January 30, 2018

Media Criticism And Trump Criticism Aren't The Same

By typical measures the economy is pretty good now. I'm not blind to what those "typical measures" obscure and it's of course fair and important to talk about those things. But the unemployment rate is good, growth is ok, inflation is low (never as important as people think, but still), the stock market is high (not important to most of us), etc.

None of this is any different than trends during the last few years of Obama. There's no "Trump economic miracle" happening. But Trump gets to take credit for it, because that's what presidents do. Trump will exaggerate and lie and he has no idea what he's talking about, of course, but "my economy is good" is not really a lie.

That the narrative during the latter Obama years was largely that "the economy is doing better, but meh" and now suddenly we have a Trump miracle (I'm exaggerating, a bit, but the coverage is friendlier to Trump) despite things not really being different. This is something to criticize. Media should be better, but it's more about relative coverage. If The Trump economy is good this year, then the Obama economy was good last year.