Democrats: It's the Economy Stupid!

Not even one of the 236 Democrats in the House and Senate voted to cut taxes in last year's legislative showdown. Hardheaded Democrats believe their stonewalling will be rewarded at the polls in the mid-term elections.  Apparently, they have forgotten the mantra of Bill Clinton.

During his first presidential run, Mr. Clinton was reminded daily by his handlers that voters really cared most about the economy.  It didn't mean Americans weren't concerned about other issues.  But they voted with their wallets.  Thus the theme "It's About the Economy Stupid!" was born.

Judging from their trashing of the Tax Cut and Jobs Act of 2017, Democrats apparently are living in some alternative universe where voters are more worried about deficits, Obamacare, gun laws, opioids or unisex bathrooms.  They have seriously miscalculated.  And Democrats will pay for it.

Recent polling by the Gallup organization lists economic problems as the single most important issue by a wide margin. Yet Democrats are betting voters will believe their fatigued narrative that only the rich will benefit. They think Americans are too dumb to notice the increase in their paychecks. 

Democrats are employing their dogeared political playbook, advocating for the issues of healthcare, the environment, gun control, race relations and LGBT rights.  They are out of touch with most Americans.  The Gallup Poll of Americans nationwide illustrates their folly.

Only eight percent of Americans think race relations is the most important issue.  Five percent mention healthcare, three percent the environment, one percent gun control and one percent gay rights.  By comparison, 17 percent of people surveyed tick the economy as the top issue.

The party's position on tax cuts has undergone a radical metamorphosis over the last 50+ years.  Once Democrats were at the forefront of the tax reform effort.  For instance, President John Kennedy championed one of the largest tax cuts in history which became law in 1964.

Under GOP President Richard Nixon, Democrats Ted Kennedy and Walter Mondale led the effort to slice taxes in 1974.  More than 20 years later in 1997, a reluctant President Clinton signed a tax cut bill that was shepherded through Congress by Republicans.

Despite Mr. Clinton's disappointment, 201 Democrats in the House and Senate joined Republicans in approving the measure, known officially as the Balanced Budget Act of 1997.  Earlier in his eight-year term, Mr. Clinton had spearheaded a legislative effort to hike taxes.

Even in 2003 when President Bush campaigned for a tax cut package, nine Democrats signed on to the legislation. Democrats' support for tax breaks has now dwindled to zero.  Virtually every Democrat who has campaigned for office in the last eight years has supported raising taxes.

Democrats are under the illusion that Americans will overlook last year's vote on tax cuts when the mid-term elections roll around in November.  It is a risky proposition for a party that will be defending 23 seats in the Senate, plus two held by independents who caucus with Democrats.

In comparison, Republicans will have eight Senate seats on the ballot. All 435 seats in the House will be up for grabs.  If past elections are any guide to the future, Americans are normally reluctant to change parties when the economy is good.  And right now America is experiencing a boon.

About 1.7 million jobs have been added since Mr. Trump became president.  Unemployment has fallen to its lowest rate in 17 years.  The unemployment rate for African-Americans, which zoomed as high as 16.8 percent under Mr. Obama, has dipped to 6.8 percent, the lowest since 1972.

The Gross Domestic Product (GDP) has topped three percent in the last two quarters.  During Mr. Obama's tenure, the GDP never reached three percent, widely regarded as the number indicating healthy economic growth.

The stock market is rocketing into new territory, setting record closes 17 times last year.  (Remember when Democrats credited Mr. Obama for stock market gains during his tenure?)  Since January of last year more than $5 trillion in wealth has been added to the U.S. economy. 

Peevish Democrats ignore the economic news at their own peril.  Their answer is to point to polls that show Mr. Trump's popularity ratings are in the dumpster.  Popularity contests are for chumps.  The most accurate polls are overwhelmingly in Mr. Trump's favor.

Consumer confidence soared to a 17-year high in November.  Similar indices for small and big businesses confidence are rising.  Consumer and business confidence are a more accurate measure of the mood of the country than polls about personality popularity. This isn't high school.

This year's election likely will be a referendum on the economy. If it is, Democrats will rue the day they voted against tax cuts designed to lift the economy and create jobs.  With their ballots, Americans will remind Democrats that it is still about the economy STUPID.