Peter Morici Blog | ​Americans Would Prosper Better with a Republican President | Talkmarkets - Page 2
Professor Emeritus, Robert H. Smith School of Business, University of Maryland

Professor Peter Morici is a recognized expert on economic policy and international economics. Prior to joining the university, he served as director of the Office of Economics at the U.S. International Trade Commission. He is the author of 18 books and monographs and has published widely in ... more

​Americans Would Prosper Better with a Republican President

Date: Monday, July 25, 2016 7:37 AM EDT

The 7 million men between the ages of 25 and 54 who are neither employed nor are looking for work are rewarded with food stamps, theearned income tax credit if their spouse is a low-income worker and federal health care subsidies—and even virtually free health care through Medicaid in many states.

For many folks refusing to do much to work at all, he offers an even more attractive benefit—free money in the form of a government pension.

Nowadays, Americans are living longer and healthier lives and work is generally less physically challenging, yet adults ages 16 to 64 certified as permanently incapable of working by the Social Security Disability Insurance program now stands at 5.1 percent—about double the figure in Reagan's day.

A broken appeals system offers a decided advantage to those crafty applicants who hire a lawyer — a situation the Obama administration expresses no real interest in fixing.

On the campaign trail, Clinton is offering Americans more of the same—$1 trillion in higher taxes to pay for free college tuition, daycare for pre-K children, bigger Obamacare subsidies, extending Medicare to Americans as young as 50, and several other initiatives.   To further micromanage the economy, she proposes to generalize to the national level the California Fair Pay Act, which requires even the smallest employers to justify to government supervisors pay and hiring decisions.

For hard working families, the difference in results is remarkable. During the Reagan years, annual family incomes rose for white Americans and minorities alike—about $3,900 overall.

During the Obama presidency, those are down $1660 overall and about $2200 for African-Americans.

The social indicators are terrible—the middle class is shrinkingsuicides and drug abuse are up, fertility is falling precipitouslymillions of college graduates are in low paying jobs, and home ownership is at a 48 year low.

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Gary Anderson 3 years ago Contributor's comment

Surely the globalization of the world, something not done by #Obama, contributes to declining wages in America. It isn't Obama that did this, it is the globalist cabal that doesn't care much about the well being of Americans anymore.

I am not a big fan of Obama or any politician right now, but the decline of wages was not his doing. #Trump is not exactly a Republican, so no one really knows if he will hurt #GDP or keep the slow growth engineered by the Fed.