The latest jobs figures confirm that the U.S. economy is surging toward what soon will be the longest expansion on record. So why hasn't Trump been able to translate that into political support?
“The moral obligation of our time is to rebuild the middle class. When the middle class does well, everyone does well,” former Vice President Joe Biden, the current Democratic front-runner,this week. Regardless of whom the Democrats nominate, the candidate likely will use some form of that argument.
The last recession ended in June 2009, making the current economic expansion close to 10 years old. In July, the economy will almost certainly break the record for the longest period of sustained growth in U.S. history. But no economic law requires economic expansions to die of old age. Some countries with smaller economies have gone decades without a recession.
Things looked bleaker a few months ago than they actually were because of the partial government shutdown, which lasted a record 35 days into late January. The shutdown deepened pessimism that had set in from December’s stock market woes.
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