Economy

Trump Is Making America's Economy Great Again

The U.S. is again the world's most competitive economy, a ranking it hasn't held since 2008.

Thomas Gallatin · Oct. 17, 2018

For the first time since 2008, the U.S. economy climbed back to the top, ranking as world’s most competitive economy by the World Economic Forum. The Forum’s report noted, “Economic recovery is well underway, with the global economy projected to grow almost 4% in 2018 and 2019.” This is indeed a pleasant and needed change from Barack Obama’s defeatist “new normal,” which, not coincidentally, began in 2009 — the first year the U.S. was not number one.

The Wall Street Journal further reports, “America’s vibrant entrepreneurial culture and its dominance in producing a competitive labor market and nimble financial system ‘are among the several factors that contribute to making the U.S.’ innovation ecosystem one of the best in the world,‘ the report said.”

Another significant piece of data to highlight here is the latest report on jobs numbers. Investor’s Business Daily notes, “August was the fifth month in a row in which the number of [job openings] exceeded the official number of unemployed. The 7.14 million of open jobs in August exceeded the number of unemployed, now at 5.96 million, by about 1.2 million. That’s never happened in the history of the [report], which dates back to the end of 2000. Moreover, the number of new hires, at 5.78 million, is also a record.”

In other words, President Donald Trump’s aggressive deregulation crusade combined with the Republicans’ tax-cut legislation is making America’s economy great again.

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