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America’s Economy is Booming Thanks to President Donald J. Trump
ECONOMY & JOBS

Issued on: September 10, 2018

https://www.whitehouse.gov/briefings-statements/americas-economy-booming-thanks-president-donald-j-trump/

We have accomplished an economic turnaround of historic proportions.

President Donald J. Trump

AN ECONOMIC TURNAROUND: President Donald J. Trump has delivered an economic turnaround following the weak economic trends of the previous Administration.


President Trump has turned around many of the flat economic trends experienced under the Obama Administration.

Under President Trump, small business optimism has soared relative to previous trends.

In a recent National Federation of Independent Business (NFIB) survey, 32 percent of small businesses said now is a good time to expand, compared to only 11 percent in NFIB’s November 2016 survey.

Business investment was on a downward trend prior to President Trump taking office, and is now up by more than $300 billion over the 2016 trend.

Orders and shipments of capital goods used by businesses to make consumer products were on a downward trend before President Trump’s election and have jumped up sharply since.

Business applications were on a flat trend prior to President Trump taking office and have surged upwards since.

The number of prime-age workers re-entering the workforce has significantly increased compared to the November 2016 trend.


HISTORIC ECONOMIC SUCCESS: President Trump’s pro-growth policies have led to an undeniable economic resurgence, benefitting American businesses and workers.


GDP growth rose to 4.2 percent in the second quarter of 2018, putting the economy on track to grow by more than 3 percent over the calendar year.

More than 3.5 million jobs have been created since President Trump took office, and total job openings have surpassed the number of job seekers for the first time on record.

The unemployment rate remained at 3.9 percent in August 2018, bringing the rate below 4 percent for the fourth time this year and only the ninth time since 1970 that has occurred.

Manufacturer optimism has reached its highest level on record, according to a recent survey.


DENYING CREDIT WHERE CREDIT IS DUE: President Trump has achieved clear success in jump starting the economy, defying repeated attempts to credit the Obama Administration.


Media, commentators, economists, and Democratic officials have all sought to credit the Obama Administration for President Trump’s economic success.

In August 2018, Larry Summers claimed “The President has taken credit for far more economic success than he deserves.”

Jared Bernstein, former Chief Economist to Vice President Joe Biden, said “there’s not a shred of evidence” President Trump has contributed to strong economic trends.

The Washington Post’s Nicole Lewis, “One year into the presidency, we are probably still feeling the effects of policies laid out by the previous administration.”

The Washington Post’s Philip Bump claimed “economic trends largely continued” following President Trump taking office.

The New York Times reporters wrote that “most if not all of the positive indicators continue trends that began during the Obama Administration.”

According to Christopher Rugaber from the Associated Press, “the economy remains essentially the same sturdy one [President Trump] inherited from Barack Obama.”
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