Now that we are a full year into President Trump’s increasingly consequential first term, it is long past time to give him complete ownership of the American economy. If it seems odd to do so after only a year, that is due to former President Barack Obama, who never stopped blaming his predecessor for a recovery that never arrived because Obama could not stop sabotaging it with his anti-growth policies and anti-free market rhetoric.
Even lying conspiracy theorists in the media and Democrat Party backed by a special prosecutor, even the gale force wind of hate and lies, have not stopped Trump from keeping his eye on the economic ball. And the payoff for the average American has been beneficial in ways that just a year ago the media said would be impossible under a President Trump.
Here are seven amazing facts about Trump’s economy the media do not want you to know:
What that means is that the unemployment rate for Latinos is the lowest … ever … in the 45-year history of government tracking.
What that means is the Latino unemployment rate is a measly 4.7 percent.
At 7.3 percent, the black unemployment rate still needs to improve, but not since hitting 7 percent in 2000 have things looked this good, most especially after nearly two decades of double-digit unemployment.
After an unexpectedly high growth rate of 3.3 percent in the third quarter of 2017 (and that is with two devastating hurricanes), projections for the fourth quarter have edged into the magic number of 4 percent.
Optimism in the American economy breeds investor confidence and consumer spending, which, in turn, drives all the creation and manufacturing and shipping of products needed to fill those needs, which, in turn, gives us Boom Times. For the first time in more than a decade, a majority of Americans see our economy as “good or excellent.” A near record of 41 percent believe 2018 will see an even better economy and their home values rise; 42 percent believe their wages will increase.
Perception is reality.
With millions of working and middle-class Americans invested in the stock market through various retirement accounts, every announcement of a new record rings like a cash register ringing in their hardworking ears.
While pushing long overdue corporate (and income) taxes through Congress, using whatever authority he can to unilaterally cut red tape, and the power of the bully pulpit to sell America and the American worker to the world, Trump’s tide is lifting all boats in ways the “experts” warned us was not possible.
America now enjoys an unemployment rate of just 4.1 percent, the lowest since 2000.
In the final year of the Obama presidency, America lost a net of 16,000 manufacturing jobs. While still president and speaking of Trump, this is how President Obama responded:
When somebody says like the person you just mentioned who I’m not going to advertise for, that he’s going to bring all these jobs back. Well how exactly are you going to do that? What are you going to do? There’s uh-uh no answer to it. He just says. “I’m going to negotiate a better deal.” Well, how? How exactly are you going to negotiate that? What magic wand do you have? And usually the answer is, he doesn’t have an answer.
So far in 2017, a full 171,000 manufacturing jobs have been created. Moreover, the manufacturing unemployment rate is just 2.6 percent, the lowest ever recorded.
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With massive tax cuts expected to become law this week, maybe even as early as Tuesday, this should make for a very bright 2018 and relieve fears of the stock market gains becoming a bubble.
Additionally, these tax cuts also finally kill off the onerous Obamacare mandate, a massive tax increase that brutalizes those making less than $50,000 a year. Other goodies include incentives for corporations to repatriate trillions stashed overseas to avoid America’s unnecessarily high tax rates.
Moreover, finally, after decades of being blocked for no good reason, this tax bill ends the dumb ban on oil drilling in Alaska’s Arctic National Wildlife Refuge (ANWR), which will create any number of solid manufacturing jobs in an area in desperate of them.
Hopefully, everything mentioned above will turn into the kind of job growth this country should have seen after coming out of 2008’s Great Recession (had Obama’s affection for socialism, wealth distribution, and central government control not smothered it).
And a jobs boom could not come at a better time for the American worker. With unemployment at just 4.1 percent, something close to full employment, wage increases will surely follow.
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