The turnaround for the economy under the leadership of President Trump has been nothing short of remarkable and yet you’d never know it if all you followed was the anti-Trump Fake News media. So once again that means it is up to all of you to read and share the truth.
Household Income Jumps To All-Time Highs Under Trump — Why Isn’t This Big News?
Median household income is up more than 4%, the economy is growing fast, optimism is at decades long highs. Not that you’d know it, since the press is too busy trying to drive President Trump from office.
Inflation-adjusted median household incomes in July hit $62,450 according to the latest release from Sentier Research. That’s the highest level since Sentier started tracking this more than 18 years ago. And if you combine Sentier’s numbers with annual Census data, median household income is at all-time highs.
More interesting is the fact that median household income has shot up more than 4% in the 19 months since Trump took office. It had been flat over the previous year and a half. Over the course of President Obama’s entire eight years in office, median household income climbed a mere 0.3%, Sentier data show.
Overall economic growth is accelerating as well, after years of Obama-induced stagnation. On Wednesday, the Commerce Department boosted its estimate of Second Quarter growth to 4.2%. That means average growth for first half of the year was above 3%. And if it continues strong in the third quarter — as appears to be the case — chances are we will see growth for the entire year at or above 3%. That would be the first time since 2005.
This, too, is a sharp turnaround that just happens to coincide with the Trump presidency. In Obama’s last year in office, GDP growth was an anemic 1.6%. The growth rate dropped in each of the last two quarters of that year. And economists were everywhere telling the public that 2% was the best we could do.
Whatever one’s view of Trump, this is undeniably good news. After years of “unexpectedly” underperforming growth, the economy is giving every indication that it is returning to its vigorous norm.
But instead of heralding this news, the mainstream press either ignores, downplays or tries to explain it away. As we noted in this space recently, The New York Times and others keep trying to claim that the current boom was simply the continuation of growth set in motion during the Obama years.
There’s a simple reason for this. The press is singularly fixated on bringing down Trump at all costs. Since good economic news will help Trump, it must be overlooked.