President Trump, the Republican Party, and the Economy

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Earlier today, Fox News noted the accomplished economic gains since President Trump’s time in the Oval Office.

The Current State of America

Many Americans have considerably contrasting outlooks on the current condition of the United States. While some people believe the nation is taking a turn for the worst, others have a more optimistic outlook. The same dichotomy is applicable to perceptions of President Trump and conservative reform.

A considerable amount of the President’s supporters have a favorable outlook on his achievements thus far. Conversely, his detractors maintain that GOP policies are the worst thing to ever happen to the U.S.

Source: Pixabay

As Republicans and Democrats debate about the current state of America, this year’s midterm elections are an important faction of the conversation. The GOP is hoping to maintain their control of the government, while Democrats aspire to regain control of the House and Senate. Furthermore, many Americans believe that the outcome of midterm elections will impact 2020 Presidential elections.

Although President Trump and Republicans have many critics, Fox News notes the GOP’s economic accomplishments and believe they will prove helpful to the Republican Party between now and November 6, 2018.

The Economy Under President Trump and the GOP

Between the months of October 2016 and December 2017, the U.S. national unemployment rate declined by 0.8%. The amount of unemployed women has also dropped by 0.6%, while unemployment rates for Americans without college degrees lessened by 0.7% between the months of January 2017 and January 2018.

As employment rates diminished, the amount of U.S. jobs also surged under President Trump. Since the 45th President’s time in office, the creation of over 1.8 million new jobs has followed. Most Americans agree that the economy tends to thrive when Americans are working and employed.

Source: Pixabay

Following unemployment declines and job creation upsurges comes tax reduction. On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act into law. Since then, the corporate tax rate has lessened by 14%. Furthermore, a considerable amount of American workers have gained cash bonuses, 401K match increases, wage and salary gains, and tax reductions.

Democrats like Nancy Pelosi and Larry Summers have dismissed the aforementioned economic gains as “crumbs” and “gimmicks.” However, the GOP has countered by blasting the Democrats as out-of-touch with average Americans.

The Trump Administration’s Current Strides

The work of President Trump and the GOP is far from over. Despite economic gains, the GOP is still working on reaching an amicable, bipartisan immigration deal with the Democrats. Furthermore, the President recently announced his infrastructure plan and budget proposal. Welfare reform, a subject of great partisan controversy, is also in the works.

Ultimately, the majority of the GOP believes the Trump administration’s foregoing economic accomplishments will help Republicans in the 2018 midterm elections.