National Security: Jobs

Political observers tell us there are three main issues that matter to voters this fall – the economy, the border and crime; otherwise known as EBC. Whichever candidate and/or party best addresses these three concerns will win the coming election. There are other issues like foreign wars, but EBC dominates voter’s thinking. EBC is a weight on Kamala Harris and her party because these problems have largely arisen since 2021 under her watch as vice president.

Thinking about the economy in general, there are many different, interconnected facets of our economy, including things like inflation, debt, interest rates, productivity, employment, etc. It’s complicated. While one indicator might be looking rosy, others may not. Generally, people do not feel good about the economy since Biden-Harris took office in January 2021. Inflation has eroded many people’s ability to buy the goods and services they expect. Specifically, the prices of groceries and energy are very high compared to where they were four years ago. The middle class feels as if they are losing ground, and their paycheck doesn’t go as far as it used to. 

The release of last week’s unemployment numbers was not good news for the Administration. The creation of only 114 thousand new jobs in July allowed the unemployment rate to rise to 4.3 percent, the highest number in three years. Given that employment numbers have revised downward in 10 of the last 14 months, suggests that bad news will be followed by worse. Labor participation is less than 63 percent, meaning that more than a third of the available workforce is unemployed.

In reaction to this bad news, the Dow-Jones Industrial Average fell by more than two percent on Friday. This week, the market has yo-yoed back and forth. Some are suggesting that we are nearing recession territory, where two successive quarters show negative growth or loss. That will weigh on the minds of voters when they cast their ballot this November.

Our job and our ability to earn a living in many ways define who we are as individuals. When you have lost your job and are having trouble making ends meet, it is very discouraging. Just three months ago, Vice President Harris hit the campaign trail to tell people how robust the economy was and how the Biden plan was working. It didn’t sell. Somehow, she is blaming Trump for this mess, even though he hasn’t been president since January 2021. That’s a tough sale: “We inherited such a mess four years ago, that even with our great ideas, we haven’t been able to fix it, but vote us in for another four years and this time, we promise, we’ll fix it.” It’s sort of like the craps player who keeps rolling snake-eyes and losing his stash, all the time hoping that a lucky seven will happen on the next roll of the dice. 

I’m not certain that a politician like Harris knows very much about job creation or economic matters in general. Harris has been in public service ever since graduating from law school in 1997. She has never created a business or made a payroll in her life, same with her vice presidential pick, Minnesota Governor Tim Walz. Walz’ resume is teacher, National Guard NCO, congressman, and now, governor. What does he know about job creation or, for that matter, the economy? Nothing in their background suggests they know much of anything about the economy or the private sector.

Trump, on the other hand, knows all about that kind of stuff. His professional background is business, real estate and entertainment. He picked JD Vance as his running mate; resume: Marine Corps war veteran, lawyer, venture capitalist and best-selling author (Hillbilly Elegy, Harper, 2016). Their broader experience, particularly in the private sector, is a sharp contrast to their opponents. Plus, Trump and Vance talk about the economy at every stop and answer reporters’ questions. Not Kamala Harris. Since taking over the spot three weeks ago that Joe Biden earned through the Democrat primary process, she hasn’t answered one question. She’s given plenty of speeches to adoring crowds, but we have no idea what she would do differently than her boss to affect a different outcome. 21 days of silence. 

Considering economic matters in the coming election, if you think that more government is the answer, you should vote for the Democrat ticket. That’s what their experience and performance suggest. On the other hand, if you think that the way to grow the economy and fight inflation is through the private sector and entrepreneurs, then your best choice is to vote Republican.