Many U.S. business groups groused about President Obama even as their companies thrived but are lavishing praise on President Trump despite doubts over his first four months, notes Barbara Koeppel.
By Barbara Koeppel
We’ve heard a lot about fake news. What about fake ads? Surely they deserve the “Pinocchio” reality check.
Let’s start with the April 29 full-page Washington Post ad run by the National Association of Manufacturers (NAM) applauding President Trump for his first 100 days. The organization hailed the trumpeter in chief for his accomplishments and hoped for more of the same.
“Thank you President Trump, for 100 days of progress,” the ad cheered. The problem is, most of the triumphs the ad touts are dubious. For example, it opens with a whopper. “You’ve promoted investment and created jobs.”
Well, yes and no. According to the Bureau of Labor Statistics, 93,000 fewer new jobs were created from February to April 2017 (522,000), under the Trump reign, than over the same months in 2016 (615,000) under President Obama.
As for new investment, according to the U.S. Bureau of Economic Analysis, gross private domestic investment in the first quarter of 2017 (adjusted for inflation and seasonal variations) was up 1.7 percent from the fourth quarter 2016 — not much to brag about.
Next, NAM’s ad gushed about the two pipelines (Dakota Access and Keystone XL) the President OK’d. While Trump claimed Keystone will create 28,000 jobs when completed, the State Department put the number a tad lower, at 35 or 50.
According to NAM, the job-creator-in-chief will rescue American manufacturers by reducing “the job-crushing regulatory burden,” “the red tape,” “the overreaching EPA and unfair labor regulations,” “the oppressive rules that obstructed energy development and prevented American independence.” And if that wasn’t enough, he’ll roll back “harmful Obamacare mandates.” Wow!
So, which manufacturers have suffered under such ruinous rules?
Not Emerson Electric Co., of which NAM’s chairman, David Farr, is CEO: In…