The Census Bureau released some good news on Wednesday to anyone wanting to make America great again, as the Trump economy breaks records and continues to roar along.
They reported that median household incomes rose to $61,400 in 2017, up 1.8 percent from a year prior. Adjusting for inflation, the numbers have surpassed highs that were reached back in 1999. In addition, the share of individuals living below the poverty line fell to 12.3 percent. This figure is the lowest on record since 2006.
We are breaking all Jobs and Economic Records but, importantly, our Country has TREMENDOUS FUTURE POTENTIAL. We have just begun!
— Donald J. Trump (@realDonaldTrump) September 8, 2018
This information comes shortly after the Labor Department released a jobs report from August indicating tremendous growth. Unemployment remains around four percent and wages for private, non-farm employees increased to $27.16 for an hourly wage. Contrary to Democratic Party spin, this economic growth is being enjoyed by the whole of America whether they happen to be high-income earners or working class individuals.
“I will be the greatest jobs president that God ever created,” Trump said on the campaign trail in 2016 before he was elected.
He intends on living up to his rhetoric, but Trump will need to be careful to make sure that the increasing debt, massive deficits, and Federal Reserve monetary manipulation do not jeopardize his booming economy.
“Our big trade deficits are the result of bad monetary policy for decades. We priced [ourselves] out of the world market, and what [Trump is] trying to do is going to cause a train wreck,” said David Stockman, who served as budget director under Reagan, who is a conservative critic of Trump’s economic policies.
While there is much more work to be done, Trump’s deregulatory measures as well as massive tax cuts have America on the right track toward a free market economy.