Additional proof that a Trump economy would far exceed that of the poverty-creating Green New Deal Democrats:
The Trump administration has repealed 22 regulations for each new rule issued,
cutting regulatory costs by more than $8 billion. In fact, federal regulations are now at their “lowest count since records began being kept in the mid-1970s.”
Small business owners are counting their blessings. For years, America’s most dedicated job creators — who account for
two-thirds of all new U.S. jobs — have been drowning in red tape. According to a National Small Business Association (NSBA) survey, one-third of small business owners spend
more than 80 hours a year meeting regulatory requirements. In their first year of operation, small business employers pay an average of
$83,000 in regulatory costs just to remain compliant.
In the NSBA’s words: “The
impact of regulatory burden cannot be overstated. More than one-third have held off on business investment due to uncertainty on a pending regulation, and more than half have held off on hiring a new employee due to regulatory burdens.”
Imagine if that $83,000 was going back into the U.S. economy. This is unacceptable. The more time and money job creators spend on regulatory compliance, the fewer resources they have to expand their business and increase hiring.
2019 records:
Overall Unemployment
At 3.5% unemployment is at the lowest level since the end of WWII
Minority Unemployment
Black unemployment was 5.4% in October, the lowest point ever recorded.
Hispanic unemployment its lowest point on record in September when it was 3.9%.
Stocks
401(k)s have been made great again, and in November best bull market ever.
Credit Scores
The average credit score increased to an all-time-high of 706 in 2019, signaling that the American public is not struggling to keep up with debt payments (as you’d expect at an economy at full employment). Household debt payments as a percentage of disposable income are at the lowest level since the St. Louis Federal Reserve began keeping statistics in 1980.
More Records to Come
The stock market has hit all time highs over one hundred times since Trump took office, as you’d expect in an increasing market.
From November 2019:
The U.S. economy has been on fire ever since President Trump’s election.
Today, the Dow Jones Industrial Average hit 28,332.71–meaning it has gained 10,000 points (up 54 percent) since President Trump’s historic election victory in 2016. The S&P 500 has also gained more than 46 percent.
Average hourly earnings also .2 percent month over month and rose 3.1 percent since last year to $28.44. “That marked 18 consecutive months of wage gains above 3%,” writes CNBC.
African-American poverty has declined to the lowest rate ever recorded.
The unemployment rate for women reached the lowest level in almost 70 years. And, last year, women filled 72 percent of all new jobs added.
