Mitch McConnell: The economy is improving because America is psyched for a GOP Congress
Senate Majority Leader Mitch McConnell (R-Ky.) would like some credit for all the recent rosy economic news.
"After so many years of sluggish growth, we're finally starting to see some economic data that can provide a glimmer of hope; the uptick appears to coincide with the biggest political change of the Obama Administration's long tenure in Washington: the expectation of a new Republican Congress," McConnell said in a statement Wednesday.
However, the data doesn't quite support McConnell's assertion. The private sector has enjoyed 57 straight months of job growth; the unemployment rate has steadily fallen since 2010, dropping to 5.8 percent to close the year; and though the latest bit of good economic news — that the economy grew by five percent in Q3 last year — came out in December, the growth occurred over the summer, well before it was clear Republicans would claim control of Congress.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.
-
7 drinks for every winter need possible
The Week Recommends Including a variety of base spirits and a range of temperatures
By Scott Hocker, The Week US Published
-
'We have made it a crime for most refugees to want the American dream'
Instant Opinion Opinion, comment and editorials of the day
By Anya Jaremko-Greenwold, The Week US Published
-
Was the Azerbaijan Airlines plane shot down?
Today's Big Question Multiple sources claim Russian anti-aircraft missile damaged passenger jet, leading to Christmas Day crash that killed at least 38
By Harriet Marsden, The Week UK Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published