When Donald Trump was just a presidential candidate, one of his key promises was the resurrection of the American economy. So far during his presidency, this promise has been kept.
As of June 30, 2017, the American gross domestic product has risen to $19.250 trillion, according to Bureau of Economic Analysis data. This is the highest GDP in American history. Third quarter data is still under analysis, but is projected to be even higher at $19.495 trillion.
For perspective, during the Obama years, the highest GDP came in December 2016, when the GDP reached 16.85 trillion. Under President George W. Bush, the GDP peaked in December 2007 at 14.99 trillion.
The GDP, according to Investopedia, is “the monetary value of all the finished goods and services produced within a country’s borders in a specific time period.”
Traditionally, the GDP has been seen as a measure of fiscal health in the United States. The higher the GDP, the more productive the American economy is.
Another important statistic of the Trump administration has been the declining unemployment rate. In 2016, the unemployment rate never fell below 4.7-percent. For the most part, it oscillated between 4.9- and 5.0-percent.
In September 2017, the unemployment rate stood at 4.2-percent. This is a massive drop from the dark days of the Great Recession, when the unemployment rate in October 2009 was 10.2-percent.
As for consumer confidence, it dropped slightly in September, but still stands at an impressive 119.8. All across the board, President Trump has helped the American economy to hum again after a sluggish post-recession malaise.
US foreign trade is up, with China accounting for 15-percent of America’s overall trade. The next highest trading partner is Canada, followed by Mexico and Japan.
Also, the American stock market is experiencing enormous gains under the watchful eye of President Trump.
However, some are already warning that the decrease in market liquidity could lead to a crash in the near future. Also, America’s Social Security program is facing an uncertain future (it could very well run out of money in our lifetimes), while America’s debt ceiling continues to rise.
Under President Trump, America’s overall debt has increased to over $20 trillion.
As good as the economic news has been under President Trump, there are still some things that need fixing. First and foremost, securing America’s borders would have a positive impact on American wages and employment figures. It would also end the remittance payments that cost the IRS millions in lost revenue every year.
Securing the border is step one. Step two would be scaling back America’s on-the-ground commitments in Europe and Asia. American troops do not need to be stationed in Japan, South Korea, or Germany. American naval and air forces can project American interests abroad while remaining mobile enough to avoid direct confrontations with aggressive powers.
America also has to reconsider goals in the Middle East. Does the country really need to keep deploying thousands of soldiers every few years to Iraq just in order to keep Iran out?
Finally, the amount of financial corruption and waste in the US government, especially in the Pentagon, needs to be fixed now. Doing so would save billions of dollars every year.
A healthy marketplace and a booming economy is a net good for all Americans. President Trump should be congratulated for making the American economy great again.
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