Economic growth has been booming in the USA. There is record low unemployment rates across the board. One of the groups that has greatly benefited are Black Americans. Many debate over if the Republican party and President Trump can claim credit. This article will delve into the deeper reasons.
How Have Promises Of Economic Growth Been Seen Among Black Americans?
At the beginning of the Trump presidency, African American approval was at 8%. Polls by Rasmussen and the NAACP estimate it somewhere between 21-36%. This means his approval has grown 3 to 4 times what it was.
As time goes on, Trump continues to make inroads despite the media’s best efforts to divide. A growing number of people are crediting the Trump Administration for the incredible jobs progress. A reason for this wide range in approval could be that many aren’t willing to say how they feel.
Robert Johnson is the billionaire founder of BET. He is known for creating the first TV channel to serve relevant entertainment to African American culture in America. Mr. Johnson credits Trump for the record low unemployment levels.
He is quoted as saying “I believe if you take into account the Trump tax cut, you take into account the drop in unemployment, … and you take into account that interest rates are fairly stable” the economy is going to grow.”
Johnson has known the President for years as well. He met with Trump during the 2016 elections and believes the President want to work with all Americans. Mr. Johnson also says he turned down a cabinet position from Trump since he doesn’t wish to work in government.
What Has Spurred Job Growth?
Many analysts cite Trump’s broad deregulation and low tax rates for the booming job market. Tax cuts have allowed overseas profits to flow back to the US. Trade deals have also been a big influence.
His tariffs have also have positively helped manufacturing in the United States. Steel wages are on the rise due to higher price for producers. The steel industry was being exploited by nations like China who were dumping it below cost to kill American industry.
These factors have given companies the confidence to reinvest in America. The jobs produced have been solid paying and are open to all Americans.
Many people report seeing help wanted signs on the windows of many businesses. This is the perfect time for anyone looking to get a job. Economic growth is likely to continue.
Since taking office, the President’s administration has hammered out trade deals with many countries. His new USMCA trade deal with Mexico and Canada will guarantee all auto-workers a $16 an hour minimum wage.
This free trade deal will stop American jobs from being undercut. It will also help the US auto-industry compete against its biggest rival China. The auto industry has been a road to the middle class for many workers looking for a leg up.
Massive free trade deals have been hammered out with the EU, South Korea, and Japan. Each of these deals have removed barriers to America’s exports. This will likely add even more to the economy’s ability to thrive.
Most of all, the President canceled the Trans Pacific Partnership which was believed to be the final nail in the coffin for America’s economy. It would have allowed foreign companies to sue the US in order to force it to comply with their demands.
How Do Trump’s Claims Of Helping All Americans Stack Up?
Employment across America is on the rise. Here is some evidence of that.It is clear that most groups are closing in on the rate of full employment.
It seems fair to say the growth is benefiting everyone regardless of their background. Many who’ve claimed that this Presidency would make things worse have not seen their predictions pan out.
It is fair to call the President unorthodox. He can be very blunt and provocative at times. But, one has to give serious credit for lowering taxes and regulations.
His trade deals have also done much to help companies keep productive jobs in America. Manufacturing jobs have offered well paying employment for Black Americans for a long time. These jobs have traditionally been a path to the moving up in the world since it takes tough people to do them. One doesn’t have to love his methods, but his results and toughness have grown on many.