Tuesday, January 26, 2021
ECONOMY Trump’s Uplifting Effects on U.S. Economy

Trump’s Uplifting Effects on U.S. Economy

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WND, March 10, 2017, on the “miraculous” effects of President Trump on the U.S. economy:


 

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(1) U.S. NATIONAL DEBT ACTUALLY DECREASED

The U.S. debt clock is actually spinning backwards since Donald Trump was inaugurated President on Jan. 20:

  • On inauguration day, U.S. national debt stood at $19.947 trillion.
  • Instead of increasing, the debt since Jan. 20 has declined 0.3% by $68 billion, for the first time in at least 10 years.
  • In contrast, the debt rose 3.1% by $320 billion in the same period under Barack Obama. Overall, the national debt nearly doubled in Obama’s 8 years, by far the largest increase in any administration in history.
(2) JOB GAINS

According to the first federal jobs report from the Bureau of Labor Statistics reflecting a full month of Trump’s presidency:

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  • 238,000 jobs and 235,000 jobs were added to the labor force in January and February 2017, respectively:
    • Jobs in construction increased by 58,000, the most in almost a decade.
    • Jobs in manufacturing also posted strong gains with 28,000 new jobs. So far in 2017 (January and February), the U.S. has gained more manufacturing jobs (+39,000) than government jobs (+25,000), which is a healthy sign.
  • Exxon Mobil Corp. announced a $20 billion building spree that will create 45,000 jobs along the Gulf Coast.
  • The performance by the Trump economy exceeded expectations: Economists surveyed by Reuters had expected the economy to add 190,000 jobs, which is about the average job gains of 187,000 per month in the final year of Obama’s presidency.
(3) INCREASE IN LABOR FORCE PARTICIPATION RATE

The labor force participation rate increased in February to 63% of Americans who either held a job or were actively looking for one — the highest labor participation rate in 10 months. 152,528,000 Americans were employed in February, 447,000 more than in January.

(4) INCREASE IN AVERAGE HOURLY EARNINGS

Average hourly earnings increased by a healthy 2.8% on an annualized basis.

All of which led John Canally, chief economic strategist at LPL Financial, to say:

“You’re getting more strength in the labor market than I would have anticipated. There’s been a burst in animal spirits since Trump was elected.”

But the Left want Trump removed, which goes to show just how anti-America they are.

Go, Trump!

~Eowyn

Republished with permission Fellowship of the Minds


Viewpoints expressed herein are of the article’s author(s), or of the person(s) or organization(s) quoted or linked therein, and do not necessarily represent those of TCP News

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