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(单词翻译:双击或拖选)
Judging by conventional wisdom and all-knowing polls, President Donald Trump1 and his Republicans face a historic wipeout in the coming mid-term elections.
But if you accept the Clintonian notion that "it's the economy, stupid" such thinking may be just a bit too conventional.
Trump's economic czar, the former CNBC personality Larry Kudlow, breezed into town this week for a stop at the Detroit Economic Club. He was surprisingly armed with statistics making the case that America is undergoing the biggest growth boom since Ronald Reagan occupied the Oval.
Legions of Trump haters might not want to hear it, but ol' Larry may have a pointorseveral, actually.
Unemployment is plumbing2 historic lows for most demographic groups – including those generally aligned3 with Democrats4. For the first time in a decade, the World Economic Forum5 named the United States the world's most competitive economy. Consumer and small-business confidence are strong.
There's more. Kudlow said the economy boasts seven million more job openings than thenumber of people unemployed6. Income after taxes and inflation is up three percent. And Federal Reserve banks in St. Louis and Atlanta predict third-quarter growth will top four percent, double what the critics predicted.
Kudlow says, quote, "ordinary folks are making money. For the first time in 20 years, the whole range of the workforce7 is prospering8. It's not just the top – it's everybody."
The calculation here is clear: an administration whose deal-maker-in-chief reduces almost every policy decision to a financial transaction is betting that fatter wallets will trump politics in the mid-terms. That a buoyant economy generating jobs is more important than the Russia investigation9 or Saudi Arabia's complicity in the death of a Washington Post columnist10 or the Supreme11 Court battle over Justice Kavanaugh.
Kudlow's message: The good times are just getting started.
What this means for the hometown auto12 industry is less clear. Interest rates are rising. Consumer demand for cars, trucks and SUVs is softening13. And Trump tariffs14 real andthreatened are causing some auto execs to whisper that dreaded16 word "downturn."
Kudlow's not buying it. Because the data doesn't support it. Because the autos are still making decent money. And because conceding the point would contradict the message he's delivering to the industrial heartland on behalf of the Trump White House.
What he calls "the American growth story" will "go on two, three or four years," he says a conclusion not universally shared by prognosticators predicting slower times by 2020just in time for the presidential campaign.
And in this town, the trade tension sparked by Trump's tariff15 wars isn't helpful, either. General Motors' No. 1 market is China. It's No. 2 for Ford17 Motor.
The president's hard-line tactics and their reliance on steel, aluminum18 and threatenedauto tariffs are eating into the automakers' bottom lines. Ford's CEO says they've alreadycost the Blue Oval one billion in profits.
Will that influence voters around here? Team Trump is betting no...with a little helpfrom the economy, stupid.
Daniel Howes is a columnist at The Detroit News. Views expressed in his essays are his own and do not necessarily reflect those of Michigan Radio, its management or the station licensee, The University of Michigan.
1 trump | |
n.王牌,法宝;v.打出王牌,吹喇叭 | |
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2 plumbing | |
n.水管装置;水暖工的工作;管道工程v.用铅锤测量(plumb的现在分词);探究 | |
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3 aligned | |
adj.对齐的,均衡的 | |
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4 democrats | |
n.民主主义者,民主人士( democrat的名词复数 ) | |
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5 forum | |
n.论坛,讨论会 | |
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6 unemployed | |
adj.失业的,没有工作的;未动用的,闲置的 | |
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7 workforce | |
n.劳动大军,劳动力 | |
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8 prospering | |
成功,兴旺( prosper的现在分词 ) | |
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9 investigation | |
n.调查,调查研究 | |
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10 columnist | |
n.专栏作家 | |
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11 supreme | |
adj.极度的,最重要的;至高的,最高的 | |
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12 auto | |
n.(=automobile)(口语)汽车 | |
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13 softening | |
变软,软化 | |
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14 tariffs | |
关税制度; 关税( tariff的名词复数 ); 关税表; (旅馆或饭店等的)收费表; 量刑标准 | |
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15 tariff | |
n.关税,税率;(旅馆、饭店等)价目表,收费表 | |
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16 dreaded | |
adj.令人畏惧的;害怕的v.害怕,恐惧,担心( dread的过去式和过去分词) | |
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17 Ford | |
n.浅滩,水浅可涉处;v.涉水,涉过 | |
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18 aluminum | |
n.(aluminium)铝 | |
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