President Trump Already On Track to be Best Economic President in US History!
Guest post by Joe Hoft
President Trump is already in the record books as one of the greatest economic Presidents ever. Based on the stock market highs, the debt lows, and the record setting GDP, this President may break all economic records before he’s through.
* President Trump is already the only President in US history to oversee two stock market rallies of nine days or more where the markets set new highs each and every day.
* 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!
* Then in early August President Trump reigned over a 9 day stock market rally with each day reaching record highs.
* The DOW daily closing stock market average has risen as much as much as 21% since the election on November 8th. (On November 9th the DOW closed at 18,332 – on August 30th the DOW closed at 21,892 – just off the all time high set on August 7th of 22,118).
* 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.
* The DOW increased by 4,000 points in the 200 trading days between November 4th and August 22nd. This was the only time in US history where the DOW rose more than 4,000 points in a 200 day period.
* 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.
President Trump now can claim the longest and largest decrease of US Federal Debt in history.
When President Trump was inaugurated on January 20, 2017 the amount of US Federal Debt owed both externally and internally was over $19 Trillion at $19,947,304,555,212. As of August 29th the amount of US Debt had decreased by more than $100 Billion to $19,844,817,037,769.
A review of the amount of (unaudited) of US Debt outstanding back through the Civil War shows that the last time the US Federal Government had a debt decrease between years was when Republican Eisenhower was President in 1957 and 1958. He cut the amount of US Debt by $2 Billion each year from $274 Billion in 1956 to $273 Billion in 1957 and again to $271 Billion in 1958.
No President besides President Donald Trump has cut the amount of US Debt by $100 Billion ever.
Under President Trump the second quarter annual GDP growth rate nearly doubled the rate from the President’s first quarter. Also, according the BEA, the US GDP surpassed $19 Trillion for the first time in US history under President Trump.
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.