Fair or not, there have been countless comparisons to President Ronald Reagan for President-elect, Donald J. Trump. For the past 18 months, Americans have heard an endless supply of references to Reagan’s optimism and successes with such hot-button topics as the domestic economy and foreign policy. Trump is already being branded as Reagan 2.0.
—by Todd M. Schoenberger, @JonesFallsPub, @TMSchoenberger
Many will argue the United States is just as dysfunctional today as it was in 1980. America’s credibility status has taken a hit and many in the country are remarkably pessimistic; similar settings we witnessed when Carter was a one-term wonder and sent packing after Reagan’s dominating win that November.
To say history is repeating itself isn’t entirely accurate because a few damaging economic metrics we experienced in 1980 are missing today (i.e., epic-high inflation). But the common denominator is both Carter and the current outgoing President, Barack Obama, are raging weak-kneed Democrats with personal ideologies best known to cripple a capitalistic America than make it prosper.
One of Ronald Reagan’s famous quotes (there were many) occurred during the 1980 Presidential campaign:
“Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his.”
The quote can clearly be reworked to present-day America by simply replacing the President’s name because if you, as a classic American citizen, believe your pathway to greatness is empty promises of hope and change, then you really need a lesson on what fuels economic prosperity.
Spoiler alert: It’s Jobs! Lots and lots of new jobs.
News reports since the November 8th victory for Donald Trump have provided us with a number of upbeat stories. Companies such as Carrier, Sprint, Ford, Boeing, Lockheed Martin and GM have either cancelled plans to move jobs out of the country or committed to adding to its payrolls here in the United States. For the approximate 95 million unemployed Americans (not including the tens of millions underemployed), news about jobs remaining on shore is emotionally significant.
If you want to rebuild or fix something broken, the absolute necessary ingredient to have is positive sentiment. And the breaking news released this morning proves the economy is in the infant stages of what should be a historical growth period in American history.
According to the National Federal of Independent Business’s index, expectations for economic prosperity are real and will result in unprecedented growth for the country. The index jumped 7.4 points in December—the first full post-election month—to 105.8, the highest reading since the end of 2004. The month-over-month increase is the biggest jump since 1980.
As reported by Vince Goelle of Bloomberg News, to wit:
“The share of business owners who say now is a good time to expand is three times the average of the current expansion, according to the NFIB’s data. More companies also said they plan to increase investment and keep hiring, which reflects optimism surrounding President-elect Donald Trump’s plans of spurring the economy through deregulation, tax reform and infrastructure spending.”
The NFIB report was based on a survey of 619 small-business owners through December 28th. Small companies represent more than 99 percent of all U.S. employers, according to the U.S. Small Business Administration. A small business is defined as an independent enterprise with no more than 500 employees. And, according to the United States Labor Department, small businesses are responsible for two-thirds of all new jobs created in the country since 1980.
“We haven’t seen numbers like this in a long time,” Juanita Duggan, President and Chief Executive of the NFIB, said in a statement and reported by Bloomberg. “Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.”
Non-believers of trickle-down economics should be prepared for this unbridled optimism to make its way to all demographics, which will only reinforce the President-elect’s forecast of making America great again. Seeing the household balance sheet strengthen will help some Americans be more accepting of the President-elect—Twitter rants and all. And maybe, just maybe, Democrats will take these valuable lessons and learn, as well.