Economists Credit Trump as Tailwind for U.S. Growth, Hiring and Stocks - WSJ
When 63 million American voters made Donald Trump the 45th U.S. President they knew exactly who he was and what they'd be getting. They knew he was a crude, rude, egocentric, combative dude, entertainingly loose with facts, given to hyperbole and bluster who was a bit sexist, hated illegal aliens and wasn't too fond of Moslems. They knew Trump was far from a perfect human being and would, if elected, fall far short of Abe Lincoln our most saint like President. And the man they elected with his good and bad traits hasn't changed one bit. 12 months in office and he's the same defiant, disruptive, tweeting, antagonizing, offensive, counter punching American first patriot that they saw during the campaign, and that family members and friends have known going back decades.
But those millions of Americans didn't elect Trump to undergo a personality change, and mentally and morally become a different man once in office. They didn't put him there to live up to some ideal of what a US President should be. Indeed, Trump is and will remain to his very last day in office the most unconventional, unpredictable, unpresidential president in US history sparking applause, controversy and outrage from what he says, does and doesn't do.
But more than any other issue these 63 million mostly working class Americans elected Donald Trump to change (not himself) but the economic direction of the country; they voted for him to improve their fortunes and standard of living which had been in decline for decades - but greatly worsened during the Bush and (especially) Obama years. And to the distress and consternation of his political enemies that's what our president is happily achieving.
Personal warts and all Trump is radically altering and reorienting the US economy away from the demoralizing, anti-business, growth inhibiting, redistributionist model of Barack Obama to a business friendly, optimistic, growth inducing model focused (unlike Obama) on fiscal policy, regulatory relief and changing tax laws. That is a seismic shift freeing much of the economy from stifling executive Obama era controls that in part caused the low growth, bad jobs, flat to failing economy that cost Democrats the Congress, 13 governorships, 1000 state legislature seats, the Presidency, a Supreme Court pick and much of the middle class.
Donald Trump rejecting Obamanomics and its core idea of stimulating the economy into robust growth through heavy government spending, taxation and massive bureaucratic regulations is now on the verge of achieving the very booming prosperity Obama promised but couldn't deliver. Indeed, before the 2020 election (as happened before the 1964 and 1984 elections when a surging economy sparked by individual and corporate tax cuts won landslide elections for presidents Johnson and Reagan) we will witness, I believe, the greatest period of innovation, enterprise and productivity since the Reagan 80s and Clinton 90s (which were actually an extension of the Reagan years).
What we have seen over the last few weeks with two million workers (from 163 companies) receiving bonuses and wage hikes, and utilities cutting energy prices to save consumers money (who'll soon see fatter pay checks) is prelude. Watch businesses across the spectrum cut prices for goods and services as they hotly compete with each other for our business. And as we learn from the Wall Street Journal survey cited above most economists (90%) agree that better times are definitely ahead for America with only (because of the building momentum) the barest possibility of a recession. Like the Federal Reserve some economists expect modest growth; others agreeing with the Trump Administration expect strong, hugely beneficial growth lifting all boats great and small.
And what economists are seeing in their crystal balls much of the public is feeling in their gut as reflected in soaring consumer confidence and spending, and the most recent polls. Indeed, the exhaustive Quinnipiac poll (cited above) on the state of the economy is a positive 63% from 29% a year earlier when Obama left office. And though this poll (by 45% to 43%) gives more credit to Obama than to Trump (it samples more Democrats to Republicans by 11%) Economist/You Gov (see above) rated Trump's handling of the economy at 49% (its highest to date) with Reuters at 47% (unchanged from last month). By the mid-term elections expect Trump to leave Obama in the dust; and his RCP average to be in the mid to upper 50s - pulling his job approval numbers up into the mid 40s.
The stock market, new home construction, manufacturing, energy production, small business start-ups, etc. we are now very much in a rocketing Trump strong economy with Maganomics triumphing in every sector. But politics is a zero sum game; and Trump's gains mean loss for his frightened, malicious, hate driven enemies who work 24/7 to minimize or deny his achievements and pray for a market crash and recession to bring him down. In the Trump era patriotism for the lynch mob Left is wanting bad things to happen to America; that is how deranged and insane they are.
TRUMP'S APPROVAL RATING SOARS AS ECONOMY ROARS
RCP average just shy of 50%
Looks like I was wrong. Above I predicted that by the mid terms President Trump's approval rating on handling the economy would be in the mid to upper 50s. But in light of three recent polls (CNN: 51%, Economist: 51%, and Harris: 54%) I'm revising my prediction to the low 60s (see) pulling up Trump's RCP job approval average to a solid 50% - it's now slightly under 40% with CNN at 43% (see) edging out Rasmussen by a point.
TRUMP STRONG ECONOMY RCP POLL BREAKS 50%
IT AIN'T OBAMA'S ECONOMY, STUPID!
The Harvard-Harris poll is now at a whopping 59% having added 4 points in one week.
WE'RE ON OUR WAY TO REPUBLICANS KEEPING CONTROL OF CONGRESS, AND REELECTION IN