The U.S. poverty rate fell to 10.5% last year, the lowest in recorded history, according to economic adviser Stephen Moore.
“In 2019, the poverty rate in the United States was lower than it has been at any time since they started measuring it in 1958,” Moore told Sunday’s “The Cats Roundtable” on WABC 770 AM-N.Y., per The Hill.
Democrats, particularly the progressive wing, use the campaign slogan Trump’s economy only works for the upper echelon, but Moore said the facts matter and “Trumponomics” have lifted more Americans out of poverty than any Democrat in at least 60-plus years.
“Trump has been talking about this, but the media has been yawning about it because they don’t want to report good news,” Moore told host John Catsimatidis. “What this tells us is that Trumponomics — lower taxes, lower regulations, better trade deals, promoting American energy — these policies didn’t just work for the rich.”
Even the extended Democrat-pressed shutdowns of the global coronavirus pandemic – Trump called for the end of flattening the curve policies at the end of April – have not proven capable of taking down the Trump-fueled economy.
“Since around the middle of May,” Moore said, “the economy has done better than anyone expected. The Congressional Budget Office thought that we would have an unemployment rate at this time of about 14 or 15%. In fact, the unemployment rate is only 8.5%. We are moving ahead faster than scheduled.
“I don’t think there’s any question that Trump would be far better for markets and for jobs than Biden would.”
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