President Donald Trump highlighted while speaking at the Davos World Economic Forum on Tuesday the numerous economic wins that his administration has accomplished for the United States during its first three years in office.
Trump highlighted the two recent trade deals that his administration secured in recent weeks along with low unemployment rates for minority communities, the millions of new jobs that have been created, and the booming stock market as just a few indicators of the current strength of the U.S. economy.
Here are some of Trump’s top quotes that show specific metrics which highlight the administration’s accomplishments:
- Just last week alone, the United States concluded two extraordinary trade deals: the agreement with China and the United States-Mexico-Canada Agreement — the two biggest trade deals ever made. They just happened to get done in the same week.
- When I took office three years ago, America’s economy was in a rather dismal state. Under the previous administration, nearly 200,000 manufacturing jobs had vanished, wages were flat or falling, almost 5 million more Americans had left the labor force than had gotten jobs, and more than 10 million people had been added to the food stamp rolls.
- Since my election, America has gained over 7 million jobs — a number unthinkable. I wouldn’t say it, I wouldn’t talk about it, but that was a number that I had in mind. The projection was 2 million; we did 7 [million] — more than three times the government’s own projections.
- The unemployment rate is now less than 3, 4, and 5 percent. And at 3.5 percent, that’s a number that is the lowest in more than 50 years. The average unemployment rate for my administration is the lowest for any U.S. President in recorded history. We started off with reasonably high rate.
- For the first time in decades, we are no longer simply concentrating wealth in the hands of a few. We’re concentrating and creating the most inclusive economy ever to exist. We are lifting up Americans of every race, color, religion, and creed.
- Unemployment rates among African Americans, Hispanic Americans, and Asian Americans have all reached record lows. African American youth unemployment has reached the lowest it’s ever been in the history of our country. African American poverty has plummeted to the lowest rate ever recorded. The unemployment rate for women reached the lowest level since 1953. And women now comprise a majority of the American workforce; that’s for the first time.
- The unemployment rate for veterans has dropped to a record low. The unemployment rate for disabled Americans has reached an all-time record low. Workers without a high school diploma have achieved the lowest unemployment rate recorded in U.S. history. Wages are rising across the board. And those at the bottom of the income ladder are enjoying the percentage, by far, largest gains.
- Workers’ wages are now growing faster than management wages. Earnings growth for the bottom 10 percent is outpacing the top 10 percent — something that has not happened. Paychecks for high school graduates are rising faster than for college graduates.
- Young Americans just entering the workforce are also sharing in America’s extraordinary prosperity. Since I took office, more than 2 million millennials have gotten jobs, and their wages have grown by nearly 5 percent annually — a number that was unthinkable. Nobody would have ever thought it was possible three years ago. A record number of Americans between the ages of 25 and 34 are now working.
- In the eight years before I took office, over 300,000 working-age people left the workforce. In just three years in my administration, 3.5 million people have joined the workforce. Ten million people have been lifted off welfare in less than three years. Celebrating the dignity of work is a fundamental pillar of our agenda.
- This is a blue-collar boom. Since my election, the net worth of the bottom half of wage earners has increased by plus-47 percent — three times faster than the increase for the top 1 percent. Real median household income is at the highest level ever recorded.
- We have created 1.2 million manufacturing and construction jobs — a number also unthinkable. After losing 60,000 factories under the previous two administrations — hard to believe when you hear “60,000 factories” — America has now gained, in a very short period of time, 12,000 new factories under my administration. And the number is going up rapidly. We’ll be beating the 60,000 number that we lost, except these will be bigger, newer, and the latest.
- Years of economic stagnation have given way to a roaring geyser of opportunity. U.S. stock markets have soared by more than 50 percent since my election, adding more than $19 trillion to household wealth, and boosting 401(k)s, pensions, and college savings accounts for millions of hardworking families.
- As part of this new vision, we passed the largest package of tax cuts and reforms in American history. We doubled the child tax credit, benefitting 40 million American families and lifting 650,000 single mothers and their 1 million children out of poverty — and out of poverty quickly.
We passed the first-ever tax credit for employers who provide paid paternal leave for employees earning $72,000 less annually, and passed paid family leave for government employees as a model for the country.
- We created nearly 9,000 Opportunity Zones in distressed communities where capital gains on long-term investments are now taxed at zero, and tremendous wealth is pouring into areas that for a hundred years saw nothing.
- The 35 million Americans who live in these areas have already seen their home values rise by more than $22 billion. My administration has also made historic investments in historically black colleges and universities. I saved HCBUs. We saved them. They were going out, and we saved them.
- We’ve also launched the most ambitious campaign in history to reduce job-killing regulations. For every new regulation adopted, we are removing eight old regulations, which will save an average of American households about $3,100 per year. It was going to be, “for every one, we do two,” but we were able to lift that to eight, and we think that’s going to go quite a bit higher. We still have a way to go.
- Additionally, China will spend an additional $200 billion over two years on American services, agriculture, and energy, and manufactured goods. So we’ll be taking in an excess of $200 billion; could be closer to $300 billion when it finishes. But these achievements would not have been possible without the implementation of tariffs, which we had to use, and we’re using them on others too. And that is why most of our tariffs on China will remain in place during the phase two negotiations. For the most part, the tariffs have been left, and we’re being paid billions and billions of dollars a year as a country.
- Our brand-new USMCA is the result of the broadest coalition ever assembled for a trade agreement. Manufacturing, agriculture, and labor all strongly endorsed the deal. And, as you know, it just passed in Congress overwhelmingly. It shows how to solve the 21st century challenge we all face: protecting intellectual property, expanding digital trade, re-shoring lost jobs, and ensuring rising wages and living standards.
The United States has also concluded a great new trade deal with Japan — approximately $40 billion — and completely renegotiated our deal with South Korea.
Author: Daily Wire News