It was very clear during the 2016 election cycle that Trump was the only candidate in the race who was going to jump start Obama’s anemic economy. Hillary certainly wasn’t the answer. She was promising to continue business as usual after Obama presided over the weakest economic recovery since World War II.
Trump was the candidate that made you feel good about the economy and that’s because Trump was the candidate with the most thorough understanding of how the economy works.
Since the election, Trump has done nothing but solidify that conclusion.
Trump has been pretty busy over the last few days making huge strides for world peace in Singapore but while he’s been away we learned some more great news about the booming economy.
Small business optimism soared in May to its highest level in 34 years, with some components hitting all-time highs, the National Federation of Independent Businesses said Tuesday.
The NFIB’s Small Business Optimism Index rose 3 points in May to a reading of 107.8, its second-highest level in 45 years and strongest level of the recovery. Economists were expecting the index to rise to 105.2 from 104.8.
The May reading was just under the 1983 record of 108.
Several measures hit the highest levels ever recorded. Plans for business expansion, reports of positive earnings trends, and compensation increases broke new records. Expectations for strong increases in sales reached their highest level since 1995.
Gotta love that.
Clearly, the Trump economy has taken off and it’s just plain silly for Obama to try and take credit for the way things are going.
From The Hill:
The Wall Street Journal asked 68 business, financial and academic economists who was responsible for the strengthening of the economy, and most “suggested Mr. Trump’s election deserves at least some credit” for the upturn.
A majority said the president had been “somewhat” or “strongly” positive for job creation, gross domestic product growth and the rising stock market.
The pros cite the White House’s push for lighter regulation and the recent tax bill as critical to a pro-growth environment; more than 90 percent of the group thought the tax bill would boost GDP expansion over the next two years.