Dear Editor:

Dave Gregg’s recent Letter to the Editor entitled “Four more years” ends with “Enjoy the economy everyone.” Using facts from a New Yorker Column of Jan. 22, 2020 and The Hill article of Feb. 4, 2020, I’d like to provide more detail about this enjoyment he mentions.

In Davos, Trump said that “the United States is in the midst of an economic boom the likes of which the world has never seen before.” The truth is when Trump took office, the economy’s annual rate of growth was 2.2 per cent. 2019 ended at 2.3%. Between 1947 and 2000, the GDP averaged 4.25 per cent. This is an economic boom in Trump’s mind only.

In the last 35 months of the Obama administration 227,000 jobs were created each month. In the first 35 months of the Trump administration 191,000 jobs were added. That's 36,000 fewer jobs each month. That isn’t an economy to be enjoyed by potential workers.

The stock market fact is that the wealthiest 10% own more than 90% of stocks and mutual funds. The tax cut was supposed to be “rocket fuel” for the economy, but growth in business investment has slowed and has now declined for three consecutive quarters. The CBO says the tax cut will add $1.9 trillion to our national debt.

The president’s trade wars have harmed everyone. The nonpartisan Congressional Budget Office estimates that the administration's trade policies will shave 0.5% from GDP this year and reduce average household income by nearly $1,300.

Do we enjoy our IRA profits amidst Trump's scandals, disregard for the rule of law and human rights, aberrant behavior and callousness toward our environment? The Bible says “The love of money is the root of all evil.” Those who think Trump should have another four years so they can make a few bucks are embracing this evil.

Francine Rondina

East Boothbay