Dear friends,
I don't like much of President Trump's bombastic style. I wish he would tweet less and get out of his own way. There are some characteristics he possesses I wouldn't want to see in my son.
To use an analogy, however, when selecting a heart surgeon, a soothing bedside manner is nice to have, but it doesn't get any weight in my decision-making process. I'm seeking the most skilled surgeon with a proven track record. Essential to my selection: Who is going to get the job done best?
We have a huge decision before us in November. Who is going to lead our nation for the next four years? Who will do it best?
There are a lot of issues to consider, but in the words of Bill Clinton's campaign adviser James Carville, "It's the economy, stupid." Recently, I spoke with a high-level union officer about the upcoming election. His words were, "If you don't vote for your pocketbook, you don't have much sense."
First, consider the state of our economic growth since Trump's election -- but prior to COVID-19:
- More Americans employed than ever recorded before in our history.
- Creation of more than 400,000 manufacturing jobs.
- Manufacturing jobs grew at the fastest rate in more than 30 years.
- Creation of 6 million new jobs.
- Economic growth at a rate over 4 percent.
- New unemployment claims hit a 49-year low.
- Growing wages increased more than 3 percent for 10 months in a row.
- Median household income hits the highest level ever recorded.
Because of space limitations, I won't get into all the details of how lowering taxes across the board and having a relentless drive to cut regulatory constraints have positively impacted the economy, but see the included sidebar.
No doubt, COVID-19 and its economic shutdowns have decimated the world's economies. It's been difficult on our company, and likely yours as well. But think for a moment: How much worse off would we be if our economy wasn't at an all-time high when this devastation hit?
Which presidential candidate will do the best job in recreating a record-level economic boom? Trump -- who helped create the most robust economy in our history -- or Biden -- who helped lead the most tepid recovery from a recession in our history?
I'd like to point out the U.S. economy hasn't fallen as far as other major national economies. Further, in just the past four months, a record 10.6 million jobs have been created, despite the shutdowns lingering in Democrat-led states and cities. I'm still hopeful for a V-shaped or at least U-shaped recovery back to record levels. To achieve that, we must unleash American energy.
Under the leadership of President Trump, the U.S. has become the world's largest producer of oil and natural gas, providing cheap energy and hundreds of thousands of high-paying jobs, stimulating the record growth of the economy and greatly enhancing our energy security in the process.
Americans have long been told that our country is running out of energy, but we now know that is wrong. America's energy revolution has produced affordable, reliable energy for consumers along with stable, high-paying jobs for small businesses -- all while dropping carbon emissions to their lowest level in 25 years.
Joe Biden has laid out an ambitious energy plan. His campaign has released nine key elements of his plan for a "Clean Energy Revolution and Environmental Justice." The first element: "Take executive action on Day 1 to not just reverse all of the damage Trump has done, but go further and faster."
This involves reinstating Obama-era policies and regulations that President Trump rolled back. It also includes an emission requirement on vehicles that has been adopted by many countries, but it remains to be seen whether any country can achieve this in the foreseeable future.
Here's one of Biden's many antidrilling statements: "Number one, no more subsidies for [the] fossil fuel industry. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill, period, ends, number one." Several times, Biden has stated he was against fracking. In a March Democratic primary debate, he said, "No more -- no new fracking."
The former vice president has a $2 trillion energy plan that includes expanding clean-energy jobs and greatly reducing fossil fuel emissions. This plan is overall a pretty stark change from the direction we have taken the past four years. It pushes policies that sound great, but will be devastating when implemented. Look only to the recent power outages in 100-plus degree weather in California. Local political leaders are encouraging citizens to turn off appliances and air conditioners in the summertime to avoid further blackouts.
Uniformly in polling, there is a record part of our population that does not trust the government. I ask you then, why give the government even more power? A $2 trillion plan? When was the last time a government plan came in anywhere close to being on budget?
Biden has vowed to immediately start addressing climate change if elected, "getting to a 100-percent clean energy economy." Biden believes "the Green New Deal is a crucial framework" for his energy policy. Biden also promises to reenter the Paris Agreement, a promise to which signatory countries (including China) are not adhering. The U.S. shouldn't be bound by this kind of global climate agreement.
The cheap-energy independence and jobs created over the past four years came not from more government or the government dictating how private economy does business, but by cutting regulations and taxes. With Biden's Green New Deal framework, he promises that our government can direct a large portion of the U.S. economy better than the private sector.
"There couldn't be a more clear divide between the two perspectives about American energy production," said Thomas Pyle, president of the American Energy Alliance.
I think the divide is much broader than energy. It's the U.S. economy as a whole.
Please vote in this election. Our democratic republic is a gift bestowed to us by our founding fathers. I'm not telling you who to vote for, but I ask you to consider what you're voting for this election.
