When Trump took office, many critics in the media proclaimed “Trump about to tank the economy,” “investors ignoring the risks in Trump’s presidency,” “why Trump’s economic boom will never come,” and “Trump has been handed a booming economy, what happens when it goes south?”
Let’s look at the numbers as per the “Independent Business Daily,” an internationally known financial publication.
Stock market: Dow Jones up 31 percent. Total stock market wealth added in 2017, $5.5 trillion, the most since Franklin D. Roosevelt.
Jobs: 2.2 million jobs added. Unemployment rate down from 4.8 percent to 4.1 percent. Minorities, lowest rate ever, cut in half. Unemployment claims at a 45-year low. Applications for S.S.D.I. in 2017 had the biggest decline since 1997, indicating more workers found jobs. S.N.A.P. (food stamps) usage has been decreasing every month Trump has been president; another indicator of workers finding jobs.
GDP: Recent data for the fourth quarter, 2017 of 3 plus percent will make the longest stretch of three plus growth since 2005.
Tax cuts: The results are in. More than 164 companies, and still counting, including Walmart, Apple, AT&T, Visa and Starbucks announced pay raises and bonuses for workers and will bring back millions of dollars from overseas to invest here in the U.S. because of the lower tax rate.
Confidence: Index stands at 55.1, close to an all-time high. Financial stress index at lowest level since 2007.
Regulations: Cut 22 for every one added, saving $8.1 billion in costs. Pulled out of Paris Climate Deal saving some $3 trillion in compliance costs.
The point is, is that President Donald Trump has exceeded all forecasts and dire predications of doom by his naysayers. Turns out, he was right, cut taxed, unnecessary and costly rules and regulations and the economy will accelerate.