If President Trump’s First Term is Like His First 6 Months – He’ll Be the Greatest Economic President Ever!
Guest post by Joe Hoft
Yesterday President Trump promoted American made products from all 50 states in the White House including a Stetson cowboy hat from Texas. This was just one of his campaign promises – to buy American goods and to hire American employees.
To date President Trump is true to his campaign promises and now as President Trump’s first 6 months in office come to an end, here is a list of his accomplishments and his resulting impact on the economy.
President Trump started off as aggressive as any President ever in working for the American people as he promised. In President Trump’s first six months since the election and since his inauguration the US Stock Markets are at record highs and millions of Americans are benefitting in their retirement savings accounts.
* Since the Inauguration on January 20th the DOW is up 9%. (It was at 19,827 at January 20th.)
* The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The DOW closed above 19,000 for the first time on November 22nd and closed above 21,000 on March 1st.
* The DOW closed above 20,000 on January 25th and the March 1st rally matched the fastest-ever 1,000 point increase in the DOW at 24 days.
* On February 28th President Trump matched President Reagan’s 1987 record for most continuous closing high trading days when the DOW reached a new high for its 12th day in a row!
* The S&P 500 and the NASDAQ have both set new all-time highs during this period.
* The US Stock Market gained $4 trillion in wealth since Trump was elected!
* The S&P 500 also broke $20 Trillion for the first time in its history.
As of today, President Trump decreased the US Debt since his inauguration by (-$103) Billion. (President Obama increased the US debt in his first 6 months more than $974 Billion or nearly $1 Trillion.)
According to the Bureau of Labor Statistics President Trump added a projected 1,027,000 jobs in his first six months (January through June 2017.) President Obama on the other hand lost more than 3,826,000 million jobs in his first six months.
Also according to the Bureau of Labor Statistics President Trump decreased the unemployment rate since his inauguration from 4.8% to 4.4% (January through June 2017). The unemployment rate in January 2017 was 4.8% and by June it was down to 4.4%. President Obama on the other hand again moved in the opposite direction. In his first six months as President the US unemployment rate increased each month from 7.8% in January 2009 to 9.5% by June of 2009.
As noted yesterday, according to the US Bureau of Labor Statistics the US inflation rate decreased to an eight month low in June to 1.6%. This is in part due to President Trump’s energy policies that are helping average Americans in their pocket books with cheaper gas and electricity.
Housing sales are red-hot in the US right now. In 2011, houses for sale were on the market an average 84 days. This year, it’s just 45 days.
According to the US Census Bureau, there were nearly twice as many US housing sales in the past couple of months as there were under President Obama in 2009 during the same time period. (The annualized housing sales rate for May 2017 is reported at 610,000 where in 2009 this amount was only 376,000.)
Decrease in Regulations
One of the first things that President Trump did in office was to reduce the number or burdensome regulations put in place during the Obama era. In January President Trump signed his 2 for 1 executive order mandating that for every new regulation, two regulations needed to be revoked. Even far left Politico notes that significant new federal regulations since Trump’s inauguration have slowed to an almost total halt.
Regulations cost Americans and American companies money to implement and maintain. Reducing or halting regulations allows companies to spend their money on more prudent money making areas.
The US Manufacturing Index soared to a 33 year high in President Trump’s first six months which was the best number since 1983 under President Reagan.
The Federal Reserve has increased interest rates three times since President Trump was elected into office in November. The Fed increased intereste rates only once in Obama’s 8 Years prior to the increase in December.
Illegal immigration is down 64% since last year under President Trump.
The President also pointed out numerous times that the MSM (Main Stream Media) reports only on a made up Russia conspiracy story and ignores these accomplishments. These actions are making the majority of Americans aware of the tremendous bias and falsehoods emanating from the media in the US and abroad. This too is another major Trump accomplishment.
President Trump is doing all he can for the American people and as a result the economic results are incredible. In nearly every category the economy is improving under President Trump. If the economy continues at this pace, President Trump could set all kinds of records and will surely be known as the best economic President in US history.