Justin Wolfers: Trump’s Claim of Record Employment Misses the Bigger Economic Picture

RUSH EXCERPT:

WOLFERS: “I have waited my whole life to explain this on television. So when a mom and a dad love each other very much, they cuddle. And nine months later, a baby comes out in. 18 years later we get a new worker. And if mums and dads like to cuddle enough, the population keeps growing. And actually what we also used to do is invite people from abroad. So that’s the birds and the bees of economics. And what that means is when there’s more babies that grow up to become grown ups, we get more people. And so what that’s meant is every president, almost every year in American history has said, we’ve got more jobs than we’ve ever had before. Every president, almost throughout American history, has been able to say, we have more income than we’ve had before. The president keeps boasting about”