ECONOMY: A +
As President Trump first took office America was facing an historically stagnant economy. It was the first time in the history of America that the economy did not grow by at least 3% in any year of a sitting President (Obama). In fact it had been 10 years since the economy grew by at least 3%. Average growth under Obama of 2.1% is the fourth lowest in history. The historically slow economy was stifled by President Obama's federal regulations that topped over $100 billion annually. President Trump had promised to end the massive federal regulations and restrictions on American businesses and individuals.
UPDATE: The ecnonomy GDP hit 3% growth in 2017 for the first time since 2007 as Trump is deregulating the economy at a pace no other president ever has. Most economists doubted the economy would grow as fast as Trump promised it would.
1/30/17: President Donald Trump signed an executive order to dramatically pare back federal regulations by requiring agencies to cut two existing regulations for every new rule introduced. An order instructing agencies that whenever they introduce a regulation, they must first abolish two others. "This will be the biggest such act that our country has ever seen. There will be regulation, there will be control, but it will be normalized control," Trump states. We agree with the President here. Yes America needs regulations to keep corporations in check but not to the extent where it had decimated small businesses across the country resulting in the historically bad economy.
2/03/17: President Trump signed two executive orders rolling back key financial regulations of the Obama era, including restrictions on Wall Street banks and on financial advisers who sell clients expensive financial products with higher commissions.The two executive actions don't take effect immediately, but rather ask federal agencies to review options to cancel existing or proposed regulations.
3/10/17: U.S. overall construction sector saw largest gain in 10 years.
3/14/17: Optimism among U.S. CEOs shows biggest increase since 2009
3/15/17: Home builder confidence is highest level in 12 years.
3/20/17: U.S. oil prices dipped below $50 a barrel for the first time in 2017 as near-record American stockpiles and rising output weighed on the production reductions by OPEC and its allies.
3/27/17: President Trump signed a long-promised executive order unwinding Obama's climate policies which strangled the American economy with regulations for several years.
4/18/17: President Donald Trump signed a new executive order to promote his America First agenda, ordering the federal government to implement his buy American, and hire American policies.
4/21/17: President Trump aimed to dismantle even more financial regulations with 2 more executive orders. Trump executive orders targeted tax rules, 'too big to fail' financial
4/25/17: Trump signed an presidential executive order on promoting agriculture and rural prosperity in America. The order creates a task force, led by Secretary of Agriculture Sonny Perdue, that will identify policy options to promote U.S. agriculture business and job growth in rural America. The task force must submit a report to Trump within 180 days.
The task force will look at regulations that impede U.S. agricultural growth and for ways to encourage the use of agricultural products made in America.
4/26/17: President Donald Trump signed an executive order to allow national monument designations to be rescinded or reduce the size of sites as the administration pushes to open up more federal land to drilling, mining and other development. "Today we're putting the states back in charge," Trump said, adding that they should decide which land is protected and which is open for development. "I commend the Trump administration for stopping this cycle of executive abuse and beginning a review of past designations," Speaker Paul Ryan stated. This order reverses yet another one of previous President Obama's regulations which stifled the economy. Visit our ENVIRONMENT page to read how this order is graded based on environmental issues.
5/1/17: President Trump signed an executive order establishing an American Technology Council to help the government "transform and modernize" its digital services. The ultimate goal: "coordinate the vision, strategy, and direction" and "advice to the president related to policy decisions" regarding the federal government's use of information technology. Trump looks to be continuing his efforts to forge a better working relationship with Silicon Valley.
5/29/17: Credit scores for U.S. consumers reached a record high. (For the first time, the average national FICO score has reached 700) while the share of Americans deemed to be some of the riskiest borrowers hit a record low.
6/1/17: Americans are the most upbeat about their finances in a decade.
6/8/17: U.S. household total net worth climbed to a record $94.8 trillion.
7/11/17: U.S. small business optimism is at its highest level in more than a decade.
7/17/17: International arrivals and travel-related spending in America are up in 2017 compared with the same period in 2016.
7/18/17: Foreign investment in the U.S. housing market saw an explosion of 49% growth from last year as it surged to an all-new high.
7/23/17: U.S. gas prices fall to a 12 year low.
7/28/17: The second-quarter U.S. GDP jumped up to 2.6%
8/1/17: U.S. companies post profit growth not seen in six years.
8/5/17: Retirement savings account balances have hit all-time highs.
8/11/17: Corporate America is having its best earnings season in 13 years
8/14/17: Trump slows federal regs to a crawl in first six months which has contributed improved economy under Trump.
9/1/17: The U.S. dollar hit its longest losing streak since 2007.
9/7/17: Hunger the in U.S. drops to the lowest in a decade.
9/8/17: U.S. investor optimism rose again, hitttig a 17-year high.
9/8/17: The U.S. has a 68% optimistic about stock market -- tied for highest % on record.
9/21/17: U.S. household wealth increased in the second quarter to yet another record high
9/28/17: U.S. economic output (GDP) grew 3.1% in the second quarter.
10/2/17: Manufacturing activity in the U.S. reached a 13-year high.
10/4/17: American optimism about the economy hits an all-time high.
10/13/17: U.S. consumer sentiment (level of spending that consumers are currently engaging in) surged to a 13-year high.
10/26/17: President Donald Trump signed an executive order designed to speed the approval of drone usage for companies likes Amazon who have been dreaming "Drone Deliveries". The administration says it wants to open new commercial uses for the aircraft and create jobs, following through on his promise to the industry to slash regulatory barriers that are sending companies to test the technology overseas.
10/26/17: Americans are in their best holiday shopping mood in 10 years. That represents one of the biggest year-over-year increases in Gallup's trend.
10/31/17: Home prices reach a new all-time.
10/31/17: Consumer confidence (level of spending that consumers will engage in) hits highest level since December 2000.
10/31/17: Under President Trump the U.S. coal production jumped nearly 8% in the past year, a far cry from the more than 30% decline in production over the past decade.
11/1/17: Three years after six in 10 Americans said their dream of a great life was unachievable, now 82% believe their either achieved the dream or are on their way.