Despite his crude personality and sometimes divisive rhetoric, President Trump is doing a remarkable job. The U.S. economy has been invigorated and has reached levels of growth that many in the mainstream media have considered impossible. Trump campaigned on making America great again, and in some ways, he delivered.
Unemployment Is Down
The unemployment rate in the U.S. now stands at 3.7 percent—the lowest it has been since 1969. Trump has vowed to create more jobs and bring manufacturing jobs back to the U.S. Gleaning from staffing companies such as PeopleReady, there are now more construction job openings than there are workers. In the past year alone, more than 300,000 new construction jobs were added to meet the growing demands of the industry. Positions within the mining and logging industry grew by 13.5 percent. Coal mines that have shut down because of strict regulations under President Obama are now operating again. Hiring in the manufacturing industry is reaching record levels. According to a survey by the National Association of Manufacturers, more than 95 percent of manufacturers have a positive outlook on the future of their business. The various growth in these industries also led to higher demand for transportation. Companies in the transportation industry are struggling to hire more truck drivers to meet the growing needs of other sectors.
Whether you’re a business owner or an employee, lower taxes is a good thing. Under Trump’s tax plan, the standard deductions allowed for individuals go up to $12,000 and families are allowed $24,000 in deductions. Filing taxes is also simpler, and deductions no longer need to be itemized. This gives families more spending power and more flexibility to save or invest their money. The lower taxes on businesses have given small business owners more leeway to hire more personnel and invest additional capital. Though progressives would espouse that these tax cuts affect big corporations rather than the masses, the tax cuts have allowed big companies to raise wages and small businesses to grow.
Financial experts, economists, the media, Democrats, and even a few Republicans predicted a crashing economy if Trump were to win and enact his policies. Two years into the Trump presidency, and unemployment is down, wages are up, and the economy is booming. President Trump’s goal of a 3 percent growth in GDP has already been surpassed, with the U.S. economy achieving a high of 4.1 percent growth in the second quarter of 2018. Severe trade imbalances in NAFTA have been addressed. Consumer confidence is high, and spending on durable goods, like vehicles and household appliances, are up by 9.3 percent. Business investments are up, and new businesses are opening, further strengthening the economy and providing more jobs.
Corporations, small businesses, and even average workers are all benefiting from Trump’s economic policies. The U.S. has firmly maintained its hold as the largest economy of the world and also one of the strongest. Despite all the naysayers and negative press, when it comes to the economy, the President has delivered on his promise to make America great again.