Now, this is truly a first for a Republican President in modern times.
One of the co-founders of the Black Entertainment Network, Robert Johnson took time on the Kudlow Show on Friday to praise President Trump for the current economic boom the U.S. is facing, while at the same time stressing that the GOP tax cuts are the main reason why the unemployment of Black America is at an all-time low.
More on Johnson’s comments via The Daily Wire:
“You’ve never seen African-American unemployment this low and the spread between African-Americans and whites narrowing,” Johnson said during a CNBC interview on Friday. In December, unemployment for blacks reached the lowest percentage (6.8%) in its recorded history.
“Business is very good,” Johnson said when asked about the economy by “Squawk Box” co-host Jor Kernen.
“I believe that if you take into account the Trump tax cut, you take into account the drop in unemployment and particularly unemployment for African-Americans, it’s the lowest it’s ever been in history. And you take into account the fact that interest rates are fairly stable, they will probably drift up, but so far,” he said.
“And I think the business community is committed to reinvest capital that they get from some of the tax advantages and that as a result of that, I think the economy is going to grow.”
“We’re about the 21st largest car dealership group in the country. People are still buying cars as interest rates are favorable,” the entrepreneur said of the business. “Hotels seem to be coming back, business travelers are going back on airplanes and traveling and staying in hotels. That works for us. And there’s still capital out there to raise in the private equity field,” he added.
Johnson explained that all of these policies, in total, have led to black unemployment dropping about 4-5 percentage points. “That’s a pretty good testament to the fact that there are a lot of jobs out there looking for people who are traditionally underemployed,” he said.