My Thoughts on the fact that the Trump Economy is Booming:
As the above image shows, the Trump economy is booming. Like I talked about in “Was Atlas Shrugging,” that shouldn’t a surprise. President Donald Trump is one of, if not the, most business-friendly presidents America has ever had.
President Trump has slashed through mountains of incoherent and costly regulation. He has reigned in runaway agencies that were regulating the American economy to death. He has cut taxes and encouraged companies to invest in America. So of course the Trump economy is doing well. With such a wonderful, business-friendly president in the White House, how could it not be?
June Addendum: Unfortunately, the red Chinese wrecked the Trump economy and this post. In 2020, China unleashed a plague on the world that killed the economy and, more importantly and tragically, hundreds of thousands of innocent people. China lied and people died. But, all is not lost. Even with all that, the Trump economy is above where it was when Obama left office. Americans have more faith in Trump during a crisis and at his worst than they ever had in Obama, even when he was at his best. That’s inspiring and shows that Americans still love economic freedom.
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The Long-Term Lesson of the Trump Economy:
Hopefully Americans will remember this time period as one of unfettered success. Yes, small improvements could be made such as wrapping up trade wars and reining in federal spending. Both of those would probably help the Trump economy boom even more. Free trade helps economies grow (as long as it is truly free and isn’t taken advantage of by programs such as Optional Practical Training). Similarly, worries about an over-indebted government are not good for business.
But, President Donald Trump has still done so much to help out the economy. We should be very grateful for the improvements that he has made.
The long-term lesson for America is that deregulation and free markets are the only viable path to tremendous economic success. Trump and Obama are obviously two very, very different presidents. Obama regulated everything to death. His agencies ran over the American economy and imposed rule after rule without giving a single thought as to how their actions were affecting our once superb private sector. The EPA engaged in particularly egregious rulemaking.
Trump, however, has pursued a different path. Although he has increased tariffs, he has also renegotiated deals so that trade is truly free. And he has limited the scope of agencies so that businesses are once again free to prosper. The result has been a booming Trump economy that has delivered significant returns for those that understand the importance of saving and investing.
Additionally, small businesses have profited tremendously because of Trump’s policies. Just look at the above graphic to see how many startups there have been since Trump was elected! That is truly amazing and great for the economy.
The free-market revolution is what originally made America prosperous and eradicated true poverty in almost every corner of the United States. Unfortunately, Big Government policies during the Carter, Bush, and Obama years stifled that free market. Trump brought it back in a big way. That’s why the Trump economy is booming and why Americans are positive about the economy again, for the first time in a long time. No more secular stagnation. No more economic defeatism. With Trump, it is an economic victory all the time. That’s because he understands the power of capitalism, unlike our other politicians that instead bow down at the altar of Big Government and bureaucracy.
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After my recent article about why the national debt is still a problem, I think many of you were worried that I don’t support President Donald Trump or his policies. But I do! Other than George Washington and Thomas Jefferson, he is far and away my favorite president. Not only does he have a strong backbone that has made us internationally respected again, but the Trump economy is booming and Americans are getting back to work.
So yes, I think the national debt is problematic. But other than that, President Trump has done a great job. Especially at creating conditions conducive to sustainable economic growth. As a reminder, those conditions are lower taxes, minimal regulations, truly free trade, and praise of private industry rather than government. Because of those conditions, growth is so strong that even CNN recently admitted that the Trump economy is a very strong one!
Trump and the Trump economy should be a long-term lesson for all Americans. His presidency is the best example we have gotten about how when it comes to the economy, the government is definitely the problem, not the solution. That’s something all Americans used to know, which is why it was part of the American creed. At least we’re finally relearning it.
So let’s keep Americans recognizing that fact. Don’t fall back into the fallacy of the previous few administrations that thought government was the answer rather than the problem. That fallacy almost destroyed America’s economy. The Trump years have shown us what’s possible when the free market is unleashed. Let’s revive the American spirit of self-sufficiency and independence and keep that going. The free market is the way, not the government. That’s what the booming Trump economy has taught us and it is something that every American should remember. Otherwise, we will just head back down the path of economic dependence that Obama was sending us down.
August 2020 Addendum: Despite the Chinese Coronavirus pandemic, the US economy is still humming along. Unemployment shot up, the stock market tanked, and consumers stopped spending for a short few weeks, but the Trump economy has since recovered, which provides even more evidence that the Trump economy is thriving and will continue to thrive because it empowers the entrepreneurs described in the Robert Heinlein quote on poverty and capitalism.
June 2021 Addendum: Despite all the good work done by President Trump, Biden has since begun to wreck the economy, using regulations and threats of higher taxes to stifle investment while sending out “stimulus” checks to stifle new employment. The Trump economy was thriving, but this is a disaster.
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