Opinion / Politics

Trump’s Roaring Economy – Helping Old and Young, Men and Women, Majority and Minority

TrumpOptimists look for the silver lining on a cloud; pessimists measure darkness around the sun. What do you do with a silver lining on a sun? That is what we have with Trump’s roaring economy.

Numbers just released make the past three years great, and next three rock solid – if Trump is re-elected.  Here is what they are telling us.

First, the stock market – keeper of pensions, 401(k) retirements, 529 education plans, and broader equity holdings – just set another record, 29,000.  Behind that jump is a mountain of good data.

Start with basics, employment across all demographics, including women.  If you have watched unemployment fall for three years, inflation level, opportunities, labor participation, productivity, wages and consumption accelerating, you know we are on a roll.

How about this:  Total non-farm jobs are proliferating, no sign of slowing.  Men and women are both gaining year over year, and “women outnumbered men in the workforce” in December “for first time since 2010,” says the Wall Street Journal. 

Peel back the data; you discover something else.  That analysis is incomplete.  Working women outnumbered men in 2010, but this was because more men lost construction and manufacturing jobs.  In 2020, it’s the reverse – healthy competition for new jobs, millions each year, across all sectors.

Expanding sectors include energy, healthcare, education, hospitality, transportation, financial services, and others. Last month, unemployment was again at “a 50-year low” of “3.5 percent.”

Liberal economists suggest minorities are not benefiting, gains miss “under-employment.”  Both assertions are patently false.  As the Wall Street Journal confirms, “employers are adding jobs, despite low unemployment, by pulling workers off the sidelines – including women, Hispanics, blacks and those with lower levels of education that have historically faced barriers to employment.”

On “under-employment” – the assertion that jobs are part-time – wrong again.  “An alternative measure, which captures underemployed and those marginally attached to the workforce … fell by 6.7 percent” in December, the “lowest on record back to 1994.”

As job growth expands, disposable income grows, leading to new consumer spending, business investment, employment and confidence.  Further education is encouraged by mobility, and wages rise as competition for workers widens.

In short, Trump has seeded a “virtuous cycle,” driven by reduced regulation, lower taxes, increased comparative advantages in international trade, fewer “transactions costs,” “rigidities,” and inefficiencies domestically – as well as a more secure border.

Without making too sharp a point, the President – by contrast to Democratic detractors – believes in average Americans.  He believes in their decision-making, on spending, investing, employment, education, savings and retirement.  He believes in capitalism, the freedom-centric “yin” to democracy’s freedom-centric “yang.”  He trusts individuals more than government.

What other good news?  A bunch.  Average hourly earnings – even following strong years – is above inflation.  Wages of rank-and-file workers grew faster than overall earnings.   And a bit growth predictor – housing starts – is at the highest level in 12.5 years.

This remarkable economic news is not lost on minorities.  The Washington Examiner recently reported that a Zogby Analytics survey found “African American support is at the ‘highest levels of the year,’ driven by a strong economy, historically low black unemployment, and Trump’s agenda to support minority small businesses, historically black colleges and universities, and passage of criminal justice reform.”  Zogby is not alone.

In other polls, Trump is scoring big.  Real Clear Politics notes, “The Hill published a poll in September showing [Trump’s] Hispanic approval at 37 percent,” while “a November Emerson poll found … 38 percent Latino approval.” And that Emerson poll “rocked the political world with a 34 percent approval rating for the president among black voters.”  Success is something, isn’t it?

Good news keeps rolling:  Under the “phase-one” trade deal with China, they will purchase $200 billion in US products, giving US farmers and manufacturers income security.   Bigger gains lie ahead.  New phases will pry open China’s markets, reduce tariffs, restore fairness to the World Trade Organization, tamp currency manipulation, reduce pilfering of US intellectual property, and codify gains.  In short, expect a second Trump administration to compound gains.

Perhaps biggest are gains for women.  Trump does not get enough credit here.  Obama’s unemployment rate for women was 7 percent in 2009 and hit 9 percent in 2010.  Trump’s unemployment rate for women was 4.9 percent in 2016 and hit 3.5 percent in 2019. Today, the unemployment rate for women is at a 60-year low.

Likewise, American women started 1,800 businesses per day last year, and 64 percent of women-owned businesses were “women of color.”  You will not read this elsewhere: Women-owned businesses registered a 3 percent profitability gain last year, household income hit a 20-year high, poverty an 18-year low.  These are big numbers.

More than a quarter of Trump’s cabinet is women, and one of his top advisers is his daughter – who has pushed childcare credits, education and women’s issues.  On the numbers, Trump is as pro-women as any president in modern history.  Do not expect the media to say so.

Net-net, economic gains across America – in every demographic – continue to break records, reset expectations, advance the lot of individuals, families and communities.  In an imperfect world, these gains should not be overlooked.  They are stunning liberal economists. The President’s approach is working.  He believes in individual liberty, and that belief is generating results.

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Danielle Slater
11 months ago

Trump loves a challenge. Haven’t any of these Democrats read his books?? Nancy may want to start with “The Art of the Comeback” or “The Art of the Deal”? Maybe Adam Shiff should read Trump:Surviving at the Top. These people have no idea who they are dealing with. Its really a shame he doesn’t get any credit for all he has done for our country.

Colvena
11 months ago

I am positive that President Trump will be reelected. People are waking up, plus w what the DEMONCRATS are doing n have been doing to unseat the Peoples choice of 2016. Is pure evil, theyv had their way for too long. Trying to brainwash us w foney lines like “For the People”, “to keep the Constitution safe”, the unfair treatment of the president, not agreeing w him in everything. And thru all of the Russian collision, to now Ukraine for three years they have bucked him. Thru all the lies n false accusations, he had to do it by himself. It only made him stronger and this convicted the people to believe that he loves us n America n the left doesnt. Truly Gods hand print is all over this, opening doors for him to make it happen. The economy is more than enough proof to get rid of those who do not agree w his policies, and time to arrest those of treason n corruption.

NessT
1 year ago

God Bless Trump! All good however our healthcare must become competitive once again and retired seniors have become the forgotten class.

Pat R
1 year ago

My favorite paragraph:
“Without making too sharp a point, the President – by contrast to Democratic detractors – believes in average Americans. He believes in their decision-making, on spending, investing, employment, education, savings and retirement. He believes in capitalism, the freedom-centric “yin” to democracy’s freedom-centric “yang.” HE TRUSTS INDIVIDUALS MORE THAN GOVERNMENT.”
What I didn’t see: what the benefits have been for “old” individuals (esp. those on fixed incomes).

JohnH
1 year ago

Economy good & jobs are up, so time to stop tax cuts & pay down our national debt. You cannot keep increasing this & leaving problem to next administration. Look at what has happened to other countries that were broke??? Not good to ignore this problem. Going up too fast with Obama & now Trump

Rudy Canchola
1 year ago

Great news!!

Sammy
1 year ago

Mostly I love what Trump has done these past 3 years. But being on a fixed income, I wish that Trump would push for slightly higher interest rates as opposed to him wanting zero interest rates. That does not help seniors.

Susief
1 year ago

So very encouraging!!! Thank you for summing up so many factors in a AMAC newsletter.

Cathy J Hurley
1 year ago

This is called ‘WINNING’! Are you tired of ‘WINNING’ yet?

Thomas Lane
1 year ago

Our President Donald J. Trump Is Doing A Great Job ! I Know I’m Voting Trump/Pence And All Republican In 2020 And If The Citizens Of The USA Are Smart They Will Vote That Way As Well ?❤️??????
Look At What Happens When You Vote Democrats In Virginia they Are trying To Take Their Guns Away By Force ! And This Goes Against Our 2nd Amendment Rights As Legal Citizens Of The USA People ! There’s NO WAY I Would Ever Vote For Any democrat PERIOD ! ?? USA ?? USA ?? USA ?? USA ?? USA ?? USA ??

par
1 year ago

Liberals are enjoying the gains and trying their best to oust Trump and his do it the American Way.

Randy Geiger
1 year ago

I am ready to continue making America greater come November. USA, USA, USA!

Bette
1 year ago

Tell me why anyone wouldn’t vote for our amazing President.
We need President Trump for another 4 years.
TRUMP / PENCE 2020
God Bless America and our President Donald Trump and Vice President Pence !

Sheree Desmarais
1 year ago

I am greatful for all President Trump has accomplished in his term of office. May the hand of God continue to be on him. May he be obedient to God’s Word in all things.. May the Lord lead him in the next term of office as President of the USA. In Jesus Name..Amen..

Sheila
Reply to  Sheree Desmarais
1 year ago

Amen.

Michelle
1 year ago

I PRAY FOR DONALD TRUMP HE. AND OTHERS WHO FOLLOW HIM ARE FOR THE BEAUTIFUL COUNTRY USA. YOU HAVE MY SUPPORT AND WE MUST STAND TOGETHER.
GOD BLESS YOU ALL

dino
1 year ago

Our President that we have today IS the best thing that has happened to AMERICA in a whole lot of years.The last imposter president did and still does hate AMERICA.A s far as peeloosli,schrewmer,schiffless and every last one of you dense oc RATS and rinos why don’t you move your lazy butts to kalifornia were they would appreciate your screwups.

Ron
1 year ago

Great Report & it looks like the report covered all the bases! The USA IS ON A ROLL! The TRUMP ADMINISTRATION MEANING MOST OF THE GOP ARE TO BE Congratulated on on showing the other sides How to make things work! If the Government stays out of the way!
Government you need to not be putting price controls on goods! Let them run!
Get out of the way or you will get stepped on!

Don Cole
1 year ago

My Social Security payments keep going down in purchasing power. My savings account gets no real interest. My real cost, including medical are going up dramatically. Not better for me.

Juleen
1 year ago

God Bless President Trump and all those who work so hard to make us great. Thanx to our military who protect our freedom. One question – Mr. President who are you mentoring to run in 2024?

Ozzie Mandias
Reply to  Juleen
1 year ago

Ivanka!

PATRICIA ANDREUCCETTI
1 year ago

It’s pretty sad that the Democrats and other naysayers won’t hear this and if they do they’ll trash it in some way or other.