We all knew Trump was a businessman, but there were still plenty of people who had doubts about his ability to manage the American economy.
Fortunately, the President has not only proven his business chops, he’s exceeded expectations, creating an economic boom that has the US economy operating on all cylinders.
How the Economy Has Improved Under Trump
When we look at most of the markers used to judge the health of the economy, they’re up across the board since Trump took office.
In fact, many of them are higher than they’ve been in decades. Some are higher than they’ve ever been, period.
Let’s review some of these impressive economic indicators.
- Over 5.3 million jobs created under Trump, including more than 300,000 in the first month of 2019 (https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-worked-build-booming-economy-improves-lives-americans/)
- An average of 18,500 manufacturing jobs added per month
- Unemployment at or below 4% for the past 11 months, which is the best we’ve seen in almost 50 years
- Unemployment rates for veterans, high-school graduates, women, African-Americans, and Hispanics are around the lowest they’ve ever been
- There are now more job openings than there are unemployed
- Food stamp use has decreased for 12 straight months (https://www.breitbart.com/politics/2019/02/18/food-stamp-participation-declines-for-12-straight-months/)
- 3% average growth during Trump’s first six quarters; that’s double the growth seen during the end of Obama’s presidency
- The stock market is up nearly 30% since Trump took office, as it sets record highs again and again (https://www.reuters.com/article/us-usa-election-stocks/two-years-in-trump-holds-stock-market-bragging-rights-idUSKCN1NB0GY?feedType=RSS&feedName=businessNews)
- A survey of CFOs from the 113 biggest companies in the world rated United States economy as the only that’s improving globally, rather than maintaining or declining like other countries (https://www.investors.com/politics/editorials/economic-boom-trump-global-economy/)
- The average family is saving a ton on taxes, and over 6 million workers have gotten bonuses, benefits, or pay raises due to tax cuts
- Wages have increase over 3% during Trump’s presidency
We could keep on going, but hey, we think you got the picture by now. Next, let’s look at how exactly Trump was able to reinvigorate a stagnate economy so quickly and effectively.
What Strategies Has He Used?
When Trump’s economic policies first started bearing fruits, the media talking heads and “experts” claimed he was just riding Obama’s coattails.
But as time has gone by, that’s been proven wrong again and again. In reality, many of Trump’s actions have actually sought to reverse and rollback the damage caused by previous administrations.
Cutting Taxes
Trump’s $1.5 trillion tax cut brought America’s very high corporate tax rate down from 35% to 21%, which has made the country a much more attractive place to do business – and that means more jobs and more investment. It also led to bonuses, better benefits, and pay increases for workers.
And citizens are seeing other direct benefits from the tax cuts as well. In fact, the Heritage Foundation predicts that the typical family will save almost $45,000 over the next 10 years. (https://www.foxbusiness.com/economy/trump-tax-cuts-and-the-middle-class-here-are-the-facts)
Ending Regulations
In 2018, Trump cut 12 regulations for every one that he enacted, continuing the trend of his presidency. And loosening restrictions has benefited businesses across the board, especially for small businesses that don’t have the resources do deal with extensive regulatory red tape. (https://www.cnbc.com/2018/09/07/how-trump-has-set-economic-growth-on-fire.html)
Some of the key moves by Trump have been loosening the Dodd-Frank banking reforms, which has been a boon for small banks, and withdrawing from the Paris Climate Accords. On the environmental front, his slashing of regulations has also given American energy a boost, especially the oil and coal sectors.
Negotiating Trade
Trump has always been adamant about the fact that other countries are “ripping us off” in trade, even before he ran for president.
And so it’s no surprise that he’s chosen to do something about it. Since taking office, Trump has withdrawn the US from the Trans-Pacific Partnership (TPP), re-negotiated the North American Free Trade Agreement (NAFTA), and is now locked in a heated trade battle with China.
Targeting Investments
Trump has attracted billions and billions of dollars in business investments into the US since becoming president, and he’s also convinced numerous companies not to build manufacturing plants in other countries – and to instead build them right here, in the US of A. (https://www.gobankingrates.com/making-money/business/companies-reinvested-america-following-trumps-election/#6)
One of Trump’s promises since day 1 has been to bring jobs and capital back to America, and he’s definitely succeeding.
Encouraging Optimism
In a recent Gallup poll, 50% of those surveyed said they’re better off financially than they were at the same time last year. And 69% expect things to get even better this year. (https://www.seattletimes.com/opinion/thank-trump-for-the-thriving-economy/)
This isn’t an accident. While Trump’s actual policies are obviously a major driver of growth and optimism, it’s also his ability to speak and act with confidence and resolve that make people trust his promise to improve the economy.
Even with all of the controversies and naysaying over “trade wars” and the like, people and businesses are more hopeful than ever.
What Do You Think of Trump’s Economy?
With all of that in mind, it’s no wonder Trump’s approval ratings just keep on climbing, even as the mainstream media does everything they can to smear him.
Did you see his recent El Paso rally? MAGA hats everywhere!
If you want to show your support for President Trump (or just trigger liberals), make sure to grab some Trump 2020 Merchandise from our shop, like a Keep America Great t-shirt, or a Trump 2020 Phone Case.
