Donald Trump will keep our American economy strong | TheHill

We have all heard the back and forth between politicians and analysts about the Trump economy versus the Obama economy. Democrats thank President Obama. Republicans thank President Trump. But what do the numbers say and what policies brought us the prosperity we have today? While the economy is complex, it is clear that regulation, employment, and tax cuts are all important factors. Let us compare these issues.For far too long, the policies of the Obama administration suffocated the economy. In its first two years alone, the Obama administration imposed $245 billion in regulatory compliance costs on businesses and families. The Trump administration quickly hit the ground running with aggressive deregulation. In 2016, there was a record 97,000 pages of regulations in the federal register. The Trump administration took bold action to bring this number down with 22 federal regulations slashed for every single regulation created. Since he assumed office, President Trump has saved the United States $33 billion in regulatory compliance costs.The unemployment rate is holding steady at 3.7 percent, the lowest level in 49 years. There are a record 7.1 million job openings and wages have been rising. Many argue that the numbers have remained fairly consistent with around 200,000 jobs added each month under both the Obama administration and the Trump administration. But it is important to look at the makeup of these jobs. Around 286,000 jobs in manufacturing were lost under the Obama administration. Under the Trump administration, around 446,000 jobs in manufacturing have been added. Workers from all backgrounds have benefited greatly from this White House agenda.High taxes made it difficult for the economy to thrive under the Obama administration. While the Trump administration has already worked with Congress on a second round of tax cuts for Americans, there have been promises delivered under the Tax Cuts and Jobs Act, including an average $2,200 more for middle class families. Moreover, a record $300 billion has been repatriated back to the United States. The corporate tax cuts have fueled more consumer confidence and business spending. The economy is on pace to grow above 3 percent for the first time since 2005. Consumer confidence is at the highest level in 18 years. Small business optimism is at the highest level since it was first measured in 1973.

Source: Donald Trump will keep our American economy strong | TheHill