All this prosperity may have to do

© 2018 Jim Spence - The U.S. economy has NEVER turned around like it has over the last twenty-one months. Unfortunately for all of those who are benefiting, Donald Trump makes it harder for all the good news on the economy to get through. He seems compelled to say or tweet things that are devoid of class while he is engineering an economic renaissance the likes of which has not been seen since the Reagan revolution pulled America from the abyss of Jimmy Carter’s follies.
The biggest mistake any American can make on their future is to be so hostile towards Trump’s dumb words that they become willingly ignorant about basic economics. Sadly, many Americans are just that. They are oblivious about the nature of our financial system. Accordingly, they make poor decisions regarding their personal finances and they oppose an obnoxious policy maker like Trump who is making their lives better. Favoring smoother talking politicians who sandbag the economy seems to be the preference.
America is not entitled. There won’t always be plenty of income if too many Americans stop thinking about good public policies and concentrate on how they feel about the offensive things said or tweeted by Donald Trump.
Once Americans get past the offensive nature of Trump, it is not hard to note the changes in America over the last two years. They are nothing short of astonishing. For the first time in more than a decade, growth is projected to exceed 3 percent over the calendar year. There are more Americans employed now than ever before in our history. U.S. jobless claims are at their lowest level in nearly five decades. The economy has achieved the longest positive job-growth streak on record. Job openings are at an all-time high and outnumber job seekers for the first time on record. Unemployment claims are at 50 year lows. The American economic story since the Trump inauguration is even more fantastic for long suffering minorities. African-American, Hispanic, and Asian-American unemployment rates have all recently reached record lows. African-American unemployment hit a record low of 5.9 percent in May 2018 and Hispanic unemployment at 4.5 percent. Asian-American unemployment is at record low of 2 percent. Women’s unemployment recently registered its lowest rate in nearly 65 years. Youth unemployment recently reached its lowest level in more than 50 years. Veteran’s unemployment recently hit its lowest level in nearly two decades. The unemployment rate for Americans without a high school diploma recently reached a record low. The unemployment rate for disabled Americans also recently hit a record low. Blue-collar jobs are growing at the fastest rate in more than three decades with manufacturing employment growing at its fastest pace in more than two decades.
All of this great news on jobs is not accidental. It is driven by the PRO-JOBS policies of Trump. All of these jobs are washing through to America’s household finances. Median household income in the U.S. rose to $61,372 in 2017, a post-recession high. Wages are growing at their fastest rate since June 2009. A whopping 3.9 million Americans have come off the food stamps roll since the election two years ago. Median income for Hispanic-Americans rose by 3.7 percent and surpassed $50,000 for the first time ever in history and accordingly, home-ownership among Hispanics is at the highest rate in nearly a decade. Poverty rates for African-Americans and Hispanic-Americans have reached their lowest levels ever recorded.
Job creators and risk takers are finally reacting to positive policies that help them grow. Small business optimism has hit historic highs with NFIB’s small business optimism index breaking a 35 year-old record in August.  An astonishing 95 percent of U.S. manufacturers are optimistic about the future, the highest reading ever and consumer confidence is at an 18-year high.
What do we hear about instead of all of this good news? We hear about Brett Kavanaugh’s drinking habits at prep school. We hear about a murder at the Saudi Arabian embassy and finger-pointing at Trump that include demands that he tell us what he is going to do about it. We read tweets from Trump calling a porn star a horse face.
It is a sharp contrast with Mr. Obama who spoke eloquently for eight years. Talk is cheap. Obama never came close to producing the kind of economic results we have seen over the last twenty-one months.
Obama confined his insults and merely took advantage of pop culture’s insistence that it is always open season on “typical white people” and also on entrepreneurs. But Obama failed all Americans with atrocious economic policies.
It would be wonderful if Mr. Trump would take a vow to stick to enacting good public policies but…..if he won’t do so, which seems likely, all this amazing prosperity will have to do.
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