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Amid coronavirus, the Great American Comeback is underway
[The Hill] Some people just placate; others get things done. Prior to the pandemic, real total household and nonprofit net wealth increased by 12.1 percent over the first 11 quarters of the Trump administration, concentrated among the bottom 50 percent of households that experienced a net increase of 47 percent; hourly wage growth for production and non-supervisory workers also hovered over 3 percent for over 17 consecutive quarters; and overall dependence on welfare declined as more people were lifted out of poverty.But, the coronavirus pandemic has hit minorities, working class families and small businesses the hardest. While the CARES Act, and the subsequent executive order that President Trump signed following the failure for Congress to agree on a second round of stimulus, has helped inject some liquidity in peoples’ balance sheets, what we need is not more stimulus, but rather growth and long-run planning. That’s why we have to keep building on the foundation that was developed prior to the pandemic. The Trump administration knows that the secret to America’s greatness resides at the intersection of its people and timeless virtues. If people are empowered to learn, grow and contribute in their workplace and communities, we’ll all be better off for it. They’ve done this in three ways. First, reshoring and modernizing our supply chain and industrial base. Although there is value in outsourcing some things, we cannot outsource everything. Trade is good, but only if it is reciprocal. Unfortunately, China, among others, has taken advantage of the United States by shipping low quality (and sometimes harmful) exports at superficially low prices that were only made possible through subsidies and regulatory arbitrage. That’s harmed the American worker in health and well-being, as well as labor market outcomes and a thinning of the middle class. By confronting these countries head on, rather than brushing past grievances under the rug, the Trump administration has increased employment in traditionally stagnant, or even declining, sectors beyond what people thought was possible. Moreover, regulatory reform has reduced the barriers to entry, strengthening competition and leading to greater wage growth. Second, modernizing workforce development and investing in distressed communities. Given the pace of technological change, and the deterioration of traditional higher education and the college experience, we need to allow for and encourage other learning pathways, ranging from apprenticeships to coding bootcamps. That’s why the National Council for the American Worker (NCAW) has been such an integral ingredient in our approach towards upskilling in the 21st century. Already, the Pledge to America’s Workers has secured over 16 million new education and training opportunities for students and workers. Posted by: Besoeker 2020-09-24 |
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