Just days after the feds announced that the U.S. economy added more than 220,000 jobs in the month of June, and the stock market has been closing at all time highs, Rep. Maxine Waters went on the House Floor to tell us the economy is collapsing.
It was at a House Financial Services Committee hearing Wednesday where Waters essentially lost her mind.
“Trump made many big promises to Americans about ushering in a new level of economic prosperity in America,” she said. “Yet, despite all of his bluster, let’s look at what Trump has actually done when it comes to our economy. None of it is good.”
Then she listed … well, you’ll just have to listen to this, because it has nothing to do with the state of the economy:
“He reversed a planned cut to federal housing administration market insurance premiums that would have saved homeowners $500 per year,” she started. “He issued executive actions to begin to dismantle Wall Street reform and embrace the wrong choice act. The Chairman’s bill to gut Dodd Frank Wall Street Reform and consumer protection.
Waters then referenced the “Choice Act,” a GOP bill that would reform Dodd-Frank banking reforms. Democrats call it the “Wrong Choice Act,” because they’re so witty.
“There are actions that endanger the economic progress that we’ve made since the Great Recession. In passing the “Wrong Choice” Act, House Republicans once again are trying to weaken the independence of the Fed and chain the Fed’s policy decisions from a mathematical formula that would dis … diminish its ability to support the economy and fulfill its mandate to promote full employment.
“The Republicans’ bill would also subject federal financial regulators – including the Fed – to the politicized annual appropriations process.
“All of this wasn’t bad enough. President Trump will soon have the opportunity to reshape the makeup of the Board of Governors, thereby tilting policy in the direction of Wall Street.”
So that’s it. Policy decisions that – on their face – don’t seem quite so bad at all.
She can’t look at economic numbers like the unemployment rate, or economic growth, because they’re all good and are finally getting better with time.
Just look at the unemployment rate. It’s lower now than at any time during the Obama Administration.
Maxine Waters really has lost her mind.
H/T: NTK Network