The media is ignoring some great economic news but they are busy blasting the President’s initial successful meeting with North Korea.
Small business is more optimistic than they have been in more than 34 years.
The NFIB’s Small Business Optimism Index rose 3 points in May to a reading of 107.8, its second-highest level in 45 years and strongest level of the recovery. Economists were expecting the index to rise to 105.2 from 104.8.
The areas of heightened optimism include: Plans for business expansion, reports of positive earnings trends, and compensation increases broke new records. Expectations for strong increases in sales reached their highest level since 1995.
The Wall Street Journal asked 68 business, financial and academic economists who was responsible for the strengthening of the economy, and most “suggested Mr. Trump’s election deserves at least some credit”.
It is President Trump, not Barack Obama who should be taking credit, the economists say.
THE HILL REPORT
The pros cite the White House’s push for lighter regulation and the recent tax bill as critical to a pro-growth environment; more than 90 percent of the group thought the tax bill would boost GDP expansion over the next two years.
A majority said the president had been “somewhat” or “strongly” positive for job creation, gross domestic product growth, and the rising stock market.
A year ago, Barack Obama had mixed grades but President Trump receives either neutral or positive grades.
The media raved when Obama had any economic growth, anemic as it was, but they are mostly ignoring this.