Jobs are plentiful. The White House says seven million jobs have been created since Donald Trump’s election. Record numbers of Americans are employed, and wages are rising as employers compete for workers. The headline unemployment rate is at its lowest in 50 years, with minorities in particular enjoying the fruits of this labor.
The stock market has continued to break records, yielding benefits for the investment and retirement accounts of more than half of all Americans. The Dow Jones average rose 22% in 2019, while the S&P was up 29% and the NASDAQ climbed 35%. When Trump was elected, the market was pretty volatile, and New York Times economist Paul Krugman predicted, “If the question is when markets will recover, a first-pass answer is never.” Boy was he ever wrong.
Consumer optimism is reflected in year-end retail sales. Gary Bauer notes, “Retail sales surged 3.4% over last year, led by record online spending. The period between Thanksgiving and Christmas is a critical time for the economy. According to Reuters, sales during these few weeks can account for up to 40% of all annual sales for many retailers.”
Regulations reduced. Economic growth comes when government gets out of the way, contrary to the “stimulus” philosophy of the last administration. The White House says, “Since taking office, President Trump has rolled back nearly 8 regulations for every new one, saving American taxpayers more than $50 billion in the process — with bigger savings still to come.” That includes rolling back a lot of his predecessor’s environmental controls. The Daily Caller reports that Trump “nixed nearly 100 environmental regulations during his first three years in office.”
Not only has Trump cut red tape, he’s been slow to add new regulations. According to The Washington Times, “The Trump administration issued the fewest new regulations during 2019 than in any year since the government began keeping track more than four decades ago.” All three of the lowest regulation totals belong to President Trump.
Judicial appointments. Not all of Trump’s success has been economic. An astounding 20% of the federal judiciary is now composed of Trump appointments after the Republican-controlled Senate has confirmed 187 of his nominees. For the pace of that success, Republicans at least owe a wink and nod to former Democrat Senate Leader Harry Reid, who nuked the filibuster for judges in 2013. Judges were a big reason for millions of conservative votes in 2016, and Trump has delivered.
Defeating terrorists. After Barack Obama fomented the rise of the Islamic State, Trump has spent three years fighting back. It hasn’t been free of controversy, but it’s hard to argue with success like the death of ISIS leader Abu Bakr Al-Baghdadi.
Other gains include military funding and rebuilding, immigration policy, and — we hope — trade.
https://patriotpost.us/articles/67646 Nate Jackson
Posts
No comments:
Post a Comment