The Trump economy continues to amaze even those who voted for the current president in the hopes he would help the nation shake off nearly twenty years of flat economic growth and overall consumer malaise during both the failed Bush and Obama presidencies. And now just this morning news arrives that President Trump has even surpassed the Reagan-era economic miracle that brought the U.S. back to the forefront of the world stage. Small business is booming at a rate even greater than during Reagan’s 1980’s.
Small business optimism surges to highest level ever, topping previous record under Reagan
U.S. small business optimism surged to a record in August as the tax cuts and deregulation efforts of President Donald Trump and the Republican-led Congress led to more sales, hiring and investment, according to a survey by the National Federation of Independent Business.
The NFIB Small Business Optimism Index jumped to 108.8 last month, the highest level ever recorded in the survey’s 45-year history and above the previous record of 108 in 1983, set during the second year of Ronald Reagan’s presidency. The August figure was up from a 107.9 reading in July.
(By way of comparison, the SBOI during the Obama years was about twenty points less than the Trump presidency.)