With the pandemic quarantine, the subsequent will we or won’t we open back up uncertainties, the unfortunate deaths of resisting criminals who have sparked riots erroneously called peaceful protests all across the country and an increasingly hostile media, it’s forgivable if you almost forgot it’s an election year — but it is.
So, I’d like to take a moment to reflect on what president Donald Trump has done economically to make America great again. Let’s go back to 2016. Business had slowly crawled out of a recession, but the economy was not really booming. News media pundits and economic experts all agreed that then candidate Trump’s rhetoric about being able to increase the GDP to 3.5% was absolutely absurd and at best he might hit 2.5%.
Some experts even stated that America would be looking at a recession with no end under Trump. While the GDP came in at 3.18% in 2018 just under expectations, it was still well above the expert’s expectations.
Under Trump, the unemployment rate hit a half-century low with 3.5% until the pandemic hit. When Covid-19 invaded the country, and businesses were locked down, that unemployment surged to 14.7%.
With that said, it should be noted that right now the national unemployment rate stands at 8.4% according to the Bureau of Labor Statistics. In the past five months the unemployment rate has dropped 6.3% even while still dealing with the pandemic.
That’s really encouraging news. If this kind of job growth continues at it’s current pace, I believe it’s not irrationally optimistic to posit that we may see Trump’s famous 3.5% unemployment rate again by election day.
While it’s true that our economy isn’t in the best shape it’s ever been in right now, it’s not Trump’s fault. This pandemic hit the whole world really hard.
The take away here is that the United States economy is invariably bouncing back quickly. It should go without saying that the come back is largely due to the Trump administration’s de-regulatory policies, tax cuts, and other economic stratagems set in place prior to the pandemic.
This is of particular importance because once the lock down restrictions are lifted nation wide — we should expect everyone to be getting new jobs.
We should expect that new businesses will open up to replace the old ones that went under during the lock-down. Ultimately, we should expect Trump’s policies to continue keeping America’s economy great, if we’ll give him that chance this November.