While the media obsess over the latest palace intrigue, President Trump is quietly shaping up to be one of the best economic presidents in modern U.S. history.
Under his watch, the unemployment rate hit 3.9 percent in April, the lowest level this century. At this rate, essentially every American who wants a job could find one. Keep in mind, the unemployment rate was more than double this level as recently as President Obama's second term in office.
Unemployment has dipped below 4 percent only a few times in U.S. history. Yet the underlying figures may be even more remarkable. Unemployment among blacks and Latinos fell to 6.6 percent and 4.8 percent, respectively, their lowest levels in recorded history — and half the rates of five years ago.
This historically low unemployment isn’t part of a natural pattern — like the weather — as some left-wing pundits imply. It’s a result of the pro-business public policies created and implemented by President Trump and Republicans in Congress.
Exhibit A is the historic tax cuts passed late last year. The Tax Cuts and Jobs Act delivered the biggest tax relief for small businesses in American history, reduced the tax burden on the middle class, and brought the corporate rate in line with international standards.
Taken together, the tax cuts are putting more money in Americans’ paychecks and on companies’ balance sheets. This leads to more spending, more investment and more jobs. It also means employers will pay higher wages, which are growing at their fastest pace in a decade.
No wonder small business optimism is at an all-time high. According to a national poll of small businesses by the organization that I lead, the Job Creators Network, respondents support the Republican tax cuts by a margin of 10-to-1.
The complete opinion piece here > President Trump’s historic jobs achievement