Americans are feeling good about the economy at exactly the right time with the holiday season approaching. In August, the consumer confidence index hit an 18-year high. With consumer spending accounting for 70% of the overall economic activity, this is an important factor in why the economy is doing so well.
These positive indicators are not just happening by coincidence. Instead, they are the result of the President’s economic policies. Fueled by tax cuts and the lifting of onerous regulations, businesses are hiring Americans in record numbers. The National Federation of Independent Business association reported that the Optimism Index in August soared to an all-time high, eclipsing a record set in 1983 during the Reagan economic boom.
The nation’s gross domestic product soared 4.2% in the last quarter, averaging more than 3% for the year, surpassing the highest total ever recorded under President Obama.
The President just renegotiated a new trade deal with Mexico and Canada, updating the flawed NAFTA agreement. In response, the stock market hit record highs.
The new trade deal will also be a major boon for U.S. manufacturers. According to a new survey from the National Association of Manufacturers, 93% of members predict additional growth and over 91% are optimistic about the future. These results are among the very best the organization has recorded in its history.
Fortunately, the growth has been focused on the private sector. In the federal workforce, the Trump administration has trimmed 16,000 jobs since the beginning of the President’s term in January of 2017. While this is not a major number in a federal workforce of almost 3 million, it is certainly a step in the right direction.
It is hard to discount these economic success stories, even for a media that is 95% opposed to President Trump. The latest Rasmussen poll gives the President an approval rating of 51%, his highest level since March of last year.
If the liberal media were objective and would publicize the positive economic reports, the President’s approval rating would be much higher. Instead, the media are constantly reporting on negative stories designed to harm the President’s political standing and his agenda.
With additional tax cuts, stronger trade deals and an enhanced effort to limit illegal immigration, the nation’s economy should continue to grow under President Trump’s policies. The outlook through 2020 is amazingly strong according to Federal Reserve Chairman Jerome H. Powell. In a speech this week to the National Association of Business Economics, Powell said “This historically rare pairing of steady, low inflation and very low unemployment is a testament to the fact we remain in extraordinary times.”
The key to maintaining such “extraordinary times” will be for these positive economic policies to continue. Hopefully, American voters will recognize what is happening and reward the President by keeping the U.S. Congress under Republican control in the mid-term elections.
Otherwise, America can get ready for the ugly prospect of House Speaker Nancy Pelosi, impeachment hearings, an end to the “Deep State” investigations and an attempt to roll back the historic tax cuts.
The stakes for our country and our economy could not be higher as we countdown the final few weeks until the mid-term elections.
Jeff Crouere is a native New Orleanian and his award winning program, “Ringside Politics,” airs locally at 7:30 p.m. Fridays and at 10:00 p.m. Sundays on PBS affiliate WLAE-TV, Channel 32, and from 7-11 a.m. weekdays on WGSO 990-AM & www.Wgso.com. He is a political columnist, the author of America's Last Chance and provides regular commentaries on the Jeff Crouere YouTube channel and on www.JeffCrouere.com. For more information, email him at [email protected]