The Numbers Are In - The Trump Economy Still Soars
By: Ted Harvey
The Trump economy is strong. It is the result of more economic freedom. Lower taxes, fewer regulations, more affordable energy. The boom is raising employment to record highs ab unemployment to record lows. Wages are finally moving substantially higher and consumers spending is increasing as well as savings. Democrats have less than a year to try to bring a recession upon us to further their election goals at our economic expense.
S E E D E D C O N T E N T
Democrats sure do enjoy raining on the parade that is the Trump economy. Joe Biden, who somehow remains the Democratic frontrunner , recently accused President Trump of “squandering” the Obama economy in recent years.
Squandering what, exactly? Under the Obama administration, America’s unemployment rate peaked at 10 percent — the highest figure since the early 1980s. Employers struggled to create jobs, while employees and job-seekers saw fewer opportunities in the private sector.
President Trump, to his credit, has described today’s U.S. economy as one of the strongest ever. In his words : “Wages are rising, incomes are soaring, and 2.5 million Americans have been lifted out of poverty in less than three years.”
So who’s right? Well, the numbers are in, and they tell the same story: The Trump economy is indeed soaring.
According to the Bureau of Labor Statistics’ latest jobs report , the U.S. economy added 128,000 jobs in October — exceeding initial estimates of 75,000. America’s unemployment rate (3.6 percent) remains one of the lowest in the last 50 years, while the total employment level reached a new high of 158.5 million people.
And this applies to all kinds of Americans. In October, the unemployment rate for African-Americans dropped to a record low of 5.4 percent . At the same time, Latino business owners are ramping up investment and taking their businesses to unprecedented heights, supporting employees and job-seekers in the process.
Between 2017 and 2018, the revenues of Latino-owned companies jumped nearly 25 percent , while the average revenue of such businesses has improved by more than 46 percent this year alone.
Job creators can thank the president and his pro-growth economic agenda. For years now, the Trump administration has focused on rolling back the size of government to help entrepreneurs do what they do best: Create, invest and grow. During the Obama years, taxes steadily rose , while rules and regulations seemingly crept into every aspect of American life.
Not so with Trump. He believes in the American Dream, not a government-run economy. He believes that American ingenuity, when left alone, is more than enough to drive economic growth for decades to come. That ingenuity — the power of the American Dream — is enough to take our economy to new heights.
Tax reform is a prime example. While Democrats only look for new ways to increase taxes and fund trillion-dollar government programs like the “Green New Deal,” President Trump figured out that the best deal is for individual Americans to keep and use that money themselves.
Since President Trump signed the Tax Cuts and Jobs Act into law, more than 800 U.S. employers — large and small — have announced new hires, pay raises, benefit increases, bonus distributions, facility expansions and utility rate reductions because of the lower tax burden.
From Apple and Walmart to local bookstores and mom-and-pop diners, America’s job creators now have more resources to invest in business expansion and job creation — and they are investing those resources.
By 2027, the TCJA is estimated to create more than 1.2 million full-time-equivalent jobs . This year alone, tax reform led to the creation of nearly 250,000 career opportunities for Americans across the country.
The verdict is in: When it comes to the U.S. economy, nothing is being “squandered.” In fact, we are experiencing one of the strongest economic resurgences in American history.
RELATED: Arizona Is Thriving Under President Trump
Our economy is resurgent because of the millions of Americans who now feel empowered to create, invest and grow under the Trump administration.
Democrats may lie to you, but the numbers don’t. America is winning because of President Trump, and all Democrats have to offer is a trumped-up impeachment.
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Tax reform is a prime example. While Democrats only look for new ways to increase taxes and fund trillion-dollar government programs like the “Green New Deal,” President Trump figured out that the best deal is for individual Americans to keep and use that money themselves.
Since President Trump signed the Tax Cuts and Jobs Act into law, more than 800 U.S. employers — large and small — have announced new hires, pay raises, benefit increases, bonus distributions, facility expansions and utility rate reductions because of the lower tax burden.
From Apple and Walmart to local bookstores and mom-and-pop diners, America’s job creators now have more resources to invest in business expansion and job creation — and they are investing those resources.
By 2027, the TCJA is estimated to create more than 1.2 million full-time-equivalent jobs . This year alone, tax reform led to the creation of nearly 250,000 career opportunities for Americans across the country.
The verdict is in: When it comes to the U.S. economy, nothing is being “squandered.” In fact, we are experiencing one of the strongest economic resurgences in American history.
RELATED: Arizona Is Thriving Under President Trump
Our economy is resurgent because of the millions of Americans who now feel empowered to create, invest and grow under the Trump administration.
Democrats can’t debate and can’t stand headlines like this one so rather than debate the strength and power of the American economy, they avoid all discussion of it and try to bury the news from the public since no one buys the absurd lie that it’s really obamas’ doing. Sore losers all.
Now it's looking more and more like the back-up plan might need a back-up plan. Wall Street economists and forecasting models don't see more than a one-in-three chance of an economic downturn next year. There's even a reasonable scenario of an economic upturn. In its outlook for next year, Goldman Sachs predicts economic growth accelerating from its current 2 percent pace to 2.5 percent, thanks to a quieting of the trade war and the lagging impact of Federal Reserve rate cuts. Recession odds: Just 20 percent, which is pretty standard in any given year. But this is the part of the forecast that should really worry Democratic campaign strategists: "Solid growth should mean another year of above-trend job gains. We expect the unemployment rate to fall to levels last seen during the Korean War, bringing a further pickup in wage growth to 3.5 percent." So not only rising take-home pay with low inflation, but a jobless rate so historically low that even the oldest boomers have little memory of such a time. Look, if you're a president who promised to make America great again, and the unemployment rate falls to its lowest level since the early 1950s, it arguably looks like you're making American great again.
Of course, this is just one forecast. But even if next year is just pretty much like this year, not much better or worse, it would still mean an economy experiencing a record-long expansion that would be well into its 11th year by Election Day 2020. Not that 2020 Democratic nominees will lack a counter-argument. They will likely argue that most Americans aren't benefiting from the expansion. As South Bend, Indiana, Mayor Pete Buttigieg said at the last Democratic debate, "In an economy where even when the Dow Jones is looking good, far too many Americans have to fight like hell just to hold on to what they've got."
The problem with such an approach is that even though Democrats are loathe to admit it, this is an expansion that's finally helping a broad swath of Americans. Wages are actually growing fastest at the bottom right now, not at the top, and that reality is playing a big role in keeping the expansion on track. Nor should Democrats dismiss the low jobless rate. It's not some phony number. For instance: Employment for prime-age workers has now completely recovered from the 2008 financial crisis even though many economists fretted it never would. To many Americans, the Trump economy is going to seem a lot better than the Obama economy.
https://townhall.com/tipsheet/sarahlee/2019/11/28/trumps-economy-is-benefitting-women-n2557208
America’s women have most certainly and strongly benefited from the Trump economy.