Channel 1 Los Angeles
9/7/2020 Washington D.C.
In August, we added 249,000 retail jobs; 174,000 leisure and hospitality jobs; and 29,000 new manufacturing jobs. The unemployment rate plummeted to 8.4 percent, the second-largest, single-month drop ever recorded, surpassed only by our big decline in June.
Last month, we saw large declines in the unemployment rate for African Americans, Hispanic Americans, and Asian Americans — very big declines. We’re witnessing the fastest labor market recovery from any economic crisis in history, by far.
By contrast, the last administration had the slowest, weakest, and worst recovery in American history. That was well documented, as you know.
This year, the United States has seen the smallest economic contraction of any major Western nation, and we are recovering at a much faster rate than any other nation.
Business confidence is higher today in America than in any other G7 or EU country — that covers a lot of territory. So we have the business confidence is higher than many — than any of those countries.
In July, retail sales not only recovered, but reached a new all-time high. So think of that: retail sales. That’s a very basic statistic, and it’s a big statistic. It not only recovered, but reached the highest level ever. Auto sales have surged to an incredible 74 percent since their April low and are nearly back to their pre-virus levels. And that’s been a tremendous thing. Used cars and new cars have been both doing incredibly well.
Mortgage applications were 27 percent higher in August than during the same period last year. Homebuilder sentiment reached the highest level on record, indicating that more high-paying construction jobs are on the way. Homebuilding has been great and lending has been really incredible. U.S. manufacturing activity reached a 19-month high in August.
While my administration has fought every day to restore prosperity, however, Nancy Pelosi and the Democrats in Congress are holding additional China virus relief hostage to — to reasons that nobody understands. I guess I do; I think I understand. It’s called politics.
And speaking of politics, I think North Carolina, I think that Michigan and Pennsylvania and other states, they should open. The governors — the Democrat governors — should open their states. They’ll open them on November 4th. But they should open them now. It’s very unfair to the people to have those shutdowns continuing at the level that they’re continuing.
Democrats are insisting on a massive taxpayer bailout of badly run blue states, stimulus checks for illegal aliens, and the mass release of inmates from jail. They want to release a lot of inmates, some of them for very serious reasons. They want to release them from jail. They want that part — as part of a stimulus package, can you believe it?
It’s time for the Democrats in Congress to start working across the aisle and put the American people first.
Now, we have $300 billion in a — an account that we didn’t use — $300 billion. And we are willing to use that. I would be willing to release it, subject to Congress, and use that as stimulus money, and it would go right to the American people. So we have $300 billion sitting in an account that we didn’t need because things are going so well with the economy.
But it would be a very appropriate thing to release that to the American people, and I am willing to do it; all we need as a signoff. But that doesn’t mean that we’re going to release prisoners. Some prisoners — some very vicious people, actually. We’re not going to put them on the streets like the Democrats want us to, and we’re not going to give stimulus checks to illegal aliens. They came into the country illegally, and now we give them a check? We want to give the checks to the American people.
So, remember, we have $300 million [billion]; it’s there. We don’t need the money. We don’t need anything. Just let that money get released to the American people.