What has happened in the 6 months since President Trump took office? Everything is on the move with the US Stock Markets at record highs. The DOW market average has risen 18% since the election in November. The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The NASDAQ has also set new all-time highs during this period. This amounts to about a 4 trillion gain in wealth since Trump was elected. This is probably going to help some people who have 401k.
Increasable as it sounds the national debt has decreased under President Trump since his inauguration by $103 Billion. People have more jobs according to the Bureau of Labor Statistics. President Trump added a projected 1,000,000 jobs in his first six months. The unemployment rate since President Trump’s inauguration decreased from 4.8%, in January 2017 to 4.4% in June.
But, what about inflation? That rate decreased to an eight-month low to 1.6%. This is in part due to President Trump’s energy policies that are providing cheaper gas and electricity. One of the other things that President Trump did was to reduce the number of burdensome regulations put in place by the EPA and other Federal agencies. In January, President Trump signed his 2 for 1 executive order mandating that for every new regulation, two regulations needed to be revoked.
According to the US Census Bureau, there were nearly twice as many US housing sales in the past couple of months. The annualized housing sales rate for May 2017 is reported to be 610,000 where in 2009 this amount was only 376,000.
The Federal Reserve is meeting this week and probably will not raise rates although they have increased interest rates three times since President Trump was elected. The funny thing is that the Fed increased interest rates only once in Obama’s 8 Years. The US Manufacturing Index soared to a 33 year high in President Trump’s first six months in office.
The Border patrol reports that illegal immigration is down almost 70% under President Trump. Many illegals are fleeing to Canada or simply not crossing the southern border, which is good news for our welfare system and our entry level workers.
The President has signed more than 100 executive orders, memoranda and proclamations including: dismantling Obama’s climate change initiatives, protecting law enforcement, crushing ISIS, rebuilding the military, building a border wall, cutting funding for sanctuary cities, approving pipelines, reducing regulations on manufacturers, a hiring freeze on federal employees and withdrawing the US from the TPP.
Although some liberal judges are trying to holdup some of these changes, but they are being challenged up to the Supreme Court and with the appointment of new judges; most of the changes will be upheld. Not bad for the first 6 months and with a little help from the GOP congressional delegation he just might do even better in his next six. As they say, ‘There is a New Sheriff in town.”