Summer on Main Street Can’t Get Any Hotter Thanks to Trump’s Economy 

The summer can’t get any hotter than down on Main Street.

NFIB’s Small Business Optimism report, (a report advocating on behalf of American small business), is out and it’s on fire.

And there’s no doubting what it reads about the current U.S. economic growth.

July’s 2018 report posted a 107.9 rating, the second highest ever recorded. It was just shy of 1983’s 108.0 rating.

This is a Trump economy and not an Obama legacy.

In fact, the Trump administration has been all about undoing the economic damage from the past eight years, getting the United States back on track economically and forecasting at least a 3 percent economic growth rate for 2018 alone.

Second-quarter GDP results came in at 4.1 percent, the best growth pace in four years. His first-year average is higher than the growth-rate average from the past two presidencies.

“Small business owners have never been so optimistic for so long, helping to power the second-longest expansion in history,” said NFIB Chief Economist Bill Dunkelberg.

It’s reminiscent of Reagan’s economy of the early 1980’s. From undoing hampering regulations, implementing the Trump tax plan and reform, and gutting the underbelly of the ACA mandate, the whimpers of the previous administration are muffled under a 2018 roar.

Trump has finally given American businesses a fresh breath of renewed vigor. 

The result of Trump’s tax plan and deregulation policies have kicked the economic door wide open for Main Street America.

The big corporations and Wall Street also are profiting during this economic surge.

But most importantly, the Trump administration’s strategies are proving robust for the real job creators — the small companies of America.

Real capital investments and outlays in factories and equipment also tend to remove the negative effects from any raising of the rate by the Feds.

The 10-year treasury bond is currently sitting at 3 percent and the Feds are eyeing to move that rate to 3.5 in 2019.

With the implemented policies giving way to lower regulatory costs, stronger sales, and lower taxes for both consumers and companies, there’s room for price raising.

Key economic points to consider…

• Though the ACA is still the albatross around America’s neck, the Trump Administration has allowed for millions of people with hardship circumstances to escape paying the ACA mandate penalty starting in 2019.
• Thanks to a favorable tax cut, more money is now flowing to the private sector.
• Overseas company cash, 12 percent in 2018 alone, is moving back into the U.S.’s economic bloodstream. These monies are seen being paid out in dividends, pay increases, bonuses, and the hiring of new workers.
• The 3.9 percent unemployment rate is the lowest since 2000, further proof of renewed economic optimism. In May alone 223,000 jobs were added.
• Sixty-three percent of small business owners reported hiring or trying to hire, and 55 percent of those reported their biggest issue is finding qualified applicants to fill the jobs.
• The Black Unemployment rate is less than 6 percent, the lowest number since tracking started back in the 1970’s. The highest number of minorities now in the workforce has not been seen in more than 50 years.

The Obama Administration left with an average GDP growth of about 1.6 from 09-2016, the worst on record since WWII.

It never exceeded 3 percent.

Obama once commented that 2 percent growth “is the new normal”.

Even former Chair of the Federal Reserve Janet Yellen admitted that a 2 percent growth rate was “the best possible chance.”

And there was much doubt about what Trump or his policies could do for the U.S. economy outside of the people who brought him into the White House.

“Donald Trump’s 4% Growth Target Is Easier Said Than Done,” declared a Wall Street Journal headline.

“Trump is officially making an economic promise that will be nearly impossible to keep,” echoed Business Insider.

“Forget 4% growth: 3% would be a major feat for Trump after record drought,” stated MarketWatch.

But the current numbers show something much different and The Small Business Optimism report is the strongest indication we are on a true economic recovery.

Trump is sending a message to Main Street and to the American people: The ‘city on the hill’ has turned its lights back on.