Opinion: Trump has achieved amazing success in the US economy

The shutdown in the United States has ended, at least temporarily, which means that the president's address to Congress will take place in the near future. According to his schedule, Donald Trump will speak to legislators on February 5, and will certainly not refuse to use one of his main trump cards during the speech - the incredible successes in the economy that he has managed to achieve.

Photo: twitter.com/realDonaldTrump

This opinion was expressed in her column for Fox News Genevieve Wood, Senior Advisor and Representative of The Heritage Foundation.

The state of the American economy has improved in almost all significant indicators, and this is not least the merit of the president, the expert said.

In November, the unemployment rate in the United States fell to its lowest level in half a century, while the numbers of vulnerable groups: African Americans, Hispanics, and women improved significantly. The unemployment rate among African Americans in May was 5,9%, the lowest ever recorded. The unemployment rate for women has recently reached its lowest level in the last 65 years.

The involvement of Americans in the workplace continues to grow, because strong wage growth forces people who have long lost hope of finding a job, looking for employment options more actively to return to the labor market. In fact, unemployment rose slightly to 3,9% in December (this is still a historically very low level), despite the addition of 312 000 jobs this month, because almost 100 000 former “hopeless workers” decided to start looking for work.

Since Trump took office, America has created more than five million new jobs. At the moment in America for the first time more jobs than the unemployed.

Branches that, according to some, were dead and had no chance of rebirth, such as production, are flourishing. The manufacturing sector has added 284 000 jobs in the 2018 year, the highest annual figure for this industry for over a decade.

Most of these successes may be related to Trump's tax reform. In addition to stimulating business investment and expansion by reducing corporate taxes, it also included a significant reduction in tax pressure for middle-class American families.

The average US resident saw a tax cut on 1400 dollars a year, while an average family with two children pays less taxes on 2917 dollars a year.

President Obama, at which the average annual growth of US GDP was 1,65%, is significantly losing to the current president, Trump. This should not be, and under the current administration it is not. GDP growth under the Trump administration almost doubled the average Obama figure and was over 4% in the second quarter of 2018.

All this has led to increased consumer confidence, increased deregulation of the economy in the interests of business growth and predictions of the US energy boom in the near future.

Not only US residents, but also the world noticed these improvements. After a long recession that began during the period of Obama's rule, America in just one year rose to six positions in the 2019 Index of Economic Freedom thanks to a strong economic and deregulating policy adopted by the Trump administration.

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