February 4, 2020
written by Net Advisor™
WASHINGTON, DC. The U.S. Bureau of Labor Statistics and the Council of Economic Advisors (CEA) report reviewed American earnings growth rates under President Obama and President Trump’s economies.
According to the data (chart above):
- “Average wage growth for workers now outpaces wage growth for managers;
- Average wage growth for those without a bachelor’s degree now outpaces wage growth for those with a bachelor’s degree or higher;
- Average wage growth for individuals at the 10th percentile of the income distribution now outpaces wage growth for individuals at the 90th percentile;
- And average wage growth for African Americans now outpaces wage growth for white Americans.”
U.S. Unemployment at 50-Year Low.
Next, U.S. unemployment remains at record 50-year lows, currently 3.5 percent.
The U.S. trade deficit has dropped; helped by the first domestic oil surplus since 1978. The only reason this has occurred is due to a change in government policy by the Trump Administration who has permitted domestic oil exploration. Now the U.S. does not have to rely on importing foreign oil.
U.S. Poverty – From Highest (2014) to Lowest (2018).
Those who think only the “rich” are the only ones doing well, aren’t paying attention to the data.
In 2016, we reported the U.S. Census pointing out that the number of Americans in poverty was the highest since 1959. According to the U.S. Census, U.S. poverty rate is now the lowest since 2001. (Data for 2019 TBA.)
Global Poverty Rate – Record Low.
In 2018, global poverty rates fell to a RECORD LOW, according to the World Bank. Part of this helped by a $17 Trillion increase in global stock markets. A chunk of profit makes money available to invest in local economies and improve the lives of others. Yes, making a profit isn’t a bad thing.
Naysayers Grossly Miscalculated an America First Policy.
Those who ‘predicted‘ a doom and gloom economy after the 2016 election, didn’t think about the impact of a pro-American jobs president.
To be fair the U.S. does move in economic cycles. However, to stimulate, sustain, or kill those economic cycles has a lot to do about what polices are implemented and the impact of those policies.
Policies such as cutting government red-tape (regulations), cutting taxes especially on business actually stimulated U.S. investments. This resulted in more American jobs, profits for companies, and higher incomes especially for middle-class Americans.
The past several decades has not been pro-American polices. It has been about globalization – exporting American jobs for cheap foreign labor, and politicians of both parties cashing in working against American interests.
#RossPerot:
– Challenged the DC establishment
– Pro-American Jobs
– Balancing the US Budget
– US had 4.1 Trillion Debt (1992) (Today ~$22 Trillion)
– Discussed how US Debt and De-valuated US Dollar.
– Financed his own campaign.#RIPRossPerot https://t.co/FLHoHYbOL8 pic.twitter.com/ZHW6Wdun9s— NetAdvisor.org® (@NetAdvisor) July 9, 2019
The current Administration has been pushing (and achieving) trade policies that are more fair for American workers, including American unions, and the U.S. economy.
No matter what political party one associates with, it’s hard to not like making more money, and have the country see prosperity again. The results have brought wealth to more countries around the world, without killing off American jobs, burdensome domestic government regulations, unfair trade deals and massive new U.S. taxes.
Concerns to Address.
The concern or issue we’d like to see get real attention no later than after the next election is addressing the U.S. National Debt. We have discussed this issue for the last ten years. Both political parties have failed to address this issue.
For this 2020 Election Year, Democrats propose free college, Medicare for All, guaranteed this or that, a Green New Deal, and other big government programs like Venezuela took on. We believe this would substantially change current U.S. economic conditions, raise taxes, risk a major recession, significantly and negatively impact U.S. stocks, and raise U.S. debt levels to dangerous levels. We’ll cover more on this before the 2020 election.
But for now, America is back to work and on the right track.
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