The Patriot Post® · Higher Wages and Affordable Goods
PRESIDENT TRUMP REBUILDS THE ECONOMY BIDEN DESTROYED
- The economy has added 902,000 private sector jobs since President Trump took office.
- Federal government employment is down by 324,000.
- Since President Trump took office, 1,424,000 native-born Americans have gained employment.
- 682,000 native-born Americans have also joined the labor force.
- The unemployment rate dropped to 4.2% in June, the lowest level in a year.
- The unemployment rate fell from the prior month for women, black men, and Hispanic women.
- Job openings remain at their highest level in two years.
- Earlier this week the S&P 500 and the Nasdaq closed at record highs.
WAGES AND PAYCHECKS ARE INCREASING UNDER PRESIDENT TRUMP
- Average hourly earnings rose by 0.2% in June.
- Average hourly earnings are up 3.5% from one year ago.
- Thanks to President Trump’s historic tax cuts, the average tax refund was up almost 11% from one year ago.
- Analysis shows that 97% of Americans received a tax cut this year.
- Due to the provisions of no tax on tips, overtime, and Social Security, the average tax refund was over $3,400 this year.
- Americans earning $15,000-$80,000 per year are receiving an average tax cut of 15%.
- Average tax refunds were up 24% compared to the four-year average of refunds under Joe Biden.
- In just one year under President Trump, blue-collar workers have made up all the wages they lost under Biden.
- Real earnings for private-sector workers outpaced inflation by nearly $1,400 during President Trump’s first year in office.
PRESIDENT TRUMP IS LOWERING PRICES
- President Trump is bringing down prices after record-high inflation under Joe Biden.
- Core inflation has lowered since President Trump took office.
- Many common household staples have all seen prices fall since President Trump took office including flour, white bread, bacon, chicken, American cheese, ice cream, strawberries, potatoes, and eggs.
- Thanks to President Trump, prescription drug prices have fallen 2.0% over the last year while over-the-counter medications have dropped 2.5%.
- Health insurance is more affordable as the index for insurance is down 6.4% over the past year.
- Last year, President Trump signed an executive order establishing Most-Favored-Nation drug pricing, which forces drug companies to lower prices so Americans can pay a fair price for their prescriptions.
- President Trump demanded leading pharmaceutical manufacturers to outline how they must bring down the cost of prescription drugs to match the lowest price of other nations.
- Americans will now pay the lowest cost for prescription drugs that other nations have been paying.
- Since then, the president has been able to secure deals with 17 major pharmaceutical companies including AstraZeneca, Eli Lilly, EMD Serono, Novo Nordisk, Pfizer, and Regeneron.
- TrumpRx is a direct-to-consumer government website allows Americans to purchase dozens of popular prescription drugs at a discounted price negotiated by the government.
- Americans can print coupons or download them to their phones which can be used at pharmacies for reduced drug costs.
- Medication costs for arthritis, obesity, infertility, and other chronic conditions will all be lowered.
- These deals with major pharmaceutical companies could save the economy $529 billion over the next ten years.
BUYING AND RENTING A HOME IS BECOMING MORE AFFORDABLE
- The average 30-year mortgage rate is lower since President Trump took office.
- Average rent prices are also down 1.2% compared to one year ago.
- Renters have more options than they have had in years with nearly 74% of rental listings in May being considered affordable, the highest rate for May in years.
- Housing affordability continues to improve as home prices have fallen now for eight consecutive months.
TRILLIONS OF NEW INVESTMENTS IN AMERICA ARE CREATING NEW JOBS
- President Trump has secured trillions of dollars’ worth of investments, creating good paying jobs within the United States.
- In June alone:
- Nippon Steel announced plans to invest upwards of $2.5 billion in Pennsylvania.
- Harley Davidson announced plans to shift production of its Revolution Max motorcycles from Thailand back to U.S. manufacturing facilities.
- Johnson & Johnson is investing more than $1 billion in a manufacturing plant in Florida.
- TOYO Co. is investing $357 million to expand U.S. solar manufacturing with a new facility in Houston.
- It was announced that Swiss companies had invested $27 billion in the United States this year.
- Orders for business equipment recently increased to levels not seen since 2020.
- Shipments of machinery and equipment doubled expectations, signaling the expansion of multiple industries.
- For a sixth month in a row, the manufacturing sector grew.
DEREGULATION IS SAVING MONEY FOR THE AMERICAN TAXPAYER
- President Trump is slashing red tape to help Americans save money.
- Deregulation efforts from 2025 are projected to save Americans roughly $212 billion – about $600 per American.
- This past December, President Trump ended the Biden-era emissions standards which led to higher costs for vehicles.
- This move will save American families $109 billion over the next five years.
- President Trump also eliminated the Obama-era “Endangerment Finding” which allowed unelected bureaucrats to impose trillions of dollars of hidden costs on American families.
- This deregulation action will save American taxpayers over $1.3 trillion.
REPUBLICAN STATES ARE LEADING THE CHARGE
- 15 of the top 19 states with the lowest unemployment rates are led by Republican governors.
- Meanwhile 10 of the 12 states with the highest unemployment rates are led by Democrat governors.
This article originally appeared here.