The Trump economy has seen significant growth, with low unemployment and rising real wages. According to the Committee to Unleash Prosperity, real incomes for the lowest 25% of earners increased by almost $2,100 during the first 16 months of Trump’s current term.
Economic Indicators
The Bank of America Institute reports that total credit and debit card spending rose 6.3% year-over-year in June, the strongest growth in over four years. Additionally, the gaps in wage and spending growth across income groups narrowed.
Despite these positive indicators, many Americans remain pessimistic about the economy. A recent survey found that 61% of the public is pessimistic about the current state of the economy and the outlook for the future.
Republican Response
Republicans have been criticized for not effectively articulating the benefits of lower taxes and lighter regulations, the president’s signature agenda. GOP candidates should be talking up the Trump accounts, which have already seen over 6 million children sign up for deferred investment accounts.
The president has also signed an executive order creating a new low-cost retirement account, which will offer every American worker the same type of retirement accounts that federal employees enjoy.
Original reporting: Fox News (HLL/CB) — read the source article.
