President Trump has been under fire for all of his presidency. Every decision and every action are highly scrutinized by the media and his opponents. One of the hottest areas of debate is over the economy. There is agreement that the economy is fairing very well and that it appears to be on track to only get better.
The debate centers around what actually has stimulated the growth that everyone is seeing. President Trump has done an amazing job getting the economy back and track and pointed in the right direction.Focusing on the President’s Economic Successes
In response to President Trump cutting taxes businesses have seen higher profits than ever. There is now less regulation that companies have to wade through. Things have become easier for them to transact business. Consumers are fairly happy with the way things are progressing.
- GDP has gained nearly 4.2 percent and continues to rise.
- Unemployment rate has dropped to an all-time low of 3.9 percent.
- 3.9 million people are now working instead of being unemployed.
- The economy has seen a $1.4 trillion gain under President Trumps leadership.
- Small businesses are hiring people at an aggressive rate. Limited only by a shortage of qualified workers.
- Wages are at an all time high with a level that is above the national inflation rate.
Overall people appear to be excited about the current growth of the economy and the direction the nation is beginning to take.
More people have jobs than ever before, small businesses are expanding at an incredible rate, and interest rates are at a solid level.
It really seems like people are beginning to invest more of their money and planning for the future because they finally have a surplus in their bank accounts.
Looking at the Causes of the President’s Success
President Trump has it all planned out. He has implemented things that have only benefited the American people and gave support to all business owners. There has been growth in nearly every area of the economy.
President Trump looked at the taxes people were paying. In order to improve the economy a $1.5 trillion plan was put into place. The corporate tax rate of 35 percent was dropped to only 21 percent. These cuts are good until the year 2025.
Many people are beginning to look ahead for when the actual benefits are realized over the tax cuts. Under the Trump administration there has been growth in population in rural areas. Growth has been seen on a beginning scale. This is something that has not happened for nearly a decade.
Deregulation has played an important role. President Trump has seen Congress Adjust the Dodd-Frank banking reforms that affected local institutions. Share prices for many local banks are up significantly. The market also has been out performed by Small-cap stocks by nearly 6 percent.
He also deregulated policies that hindered growth because of environmental protection rules. The environmental regulations were strangling companies and keeping them from expanding and hiring new employees. But now they can focus on improving the way they transact business and growing in a consumer-friendly way.
Doubters are Out There
On the other side of the aisle there are those that highly doubt that this growth trend will continue. Skeptics are speaking out and believe that a recession could be right around the corner. Some critics point out:
- The debt of the country may play a factor in the growth continuing.
- Trade wars could put could cause inflation to rise.
- Real estate market may slow and cause people to rethink spending their money.
- The Federal Reserve can increase interest rates.
The final answer or thought on the economy can come down to what-ifs all the time.
The future is not known so speculations can fly. What is known is that the economy is going through an amazing growth cycle. One that does not look like it will end any time soon.
The benefits of the tax cuts have not been fully realized and many people that just started work have finally started paying down debt and freely spending on things they want.
When this kind of cycle is in motion there can only be growth.