Trump deserves credit for U.S. economic boom
Liberal critics of President Donald Trump’s multi-faceted economic development strategy continue to insist it is not helping American working men and women.
But it is — big time.
Labor Department statistics released last week show unemployment is the lowest in nearly half a century, at 3.9 percent. Jobless rates for black Americans have never been lower. Ever.
Still, maintain the critics, many of those jobs are not good ones. Profit-hungry corporations are getting their work done with part-time employees who do not receive benefits, the cynics claim. Increasingly, that is a fallacy. Analysts found that many companies needing more help are converting part-time employees to full-time ones and are hiring people previously paid as contractors.
In fact, the number of people who prefer full-time jobs to the part-time work they have is the lowest it has been in 11 years. The “underemployment” rate has not been this low in 17 years.
More Americans are doing better. Trump deserves much of the credit. As we see it, he has done three major things to boost the economy: 1) help promote and pass tax cuts, including major corporate tax reform; 2) enact regulatory reform, allowing American businesses to devote their time to what they do and not to pointless red tape; and 3) instill confidence that the government is an ally in success, not a hindrance to it.