The U.S. Income and Poverty report developed by the Census Bureau for 2019 was presented on Sept. 15 and showed the overwhelming and undisputed success of the economic recovery produced under the Trump era during 2019 and early 2020 until the arrival of the CCP virus.
The economic success of the Trump era during 2019 surpassed that of any other president in the history of the United States, and it is worth asking why the news is not on the front page of all the media.
The reality is that with only a month to go before the presidential elections, the last thing the opposition media wants to do is show that the economic policies carried out by President Trump were an undisputed success and broke all growth records, when his opponent Joe Biden is basing a large part of his campaign on announcing that his policies are aimed at doing the opposite of what has been done in recent years.
The U.S. Census Bureau announced in the report that the 2019 average real income of family and non-family households increased by 7.3 percent and 6.2 percent, respectively, compared to 2018. This is the fifth consecutive annual increase in median household income for family households and the second consecutive increase for non-family households.
With respect to health, the percentage of people with health insurance coverage for all or part of 2019 reached a record 92.0% of the population.
In turn, the active employment base also increased, with the results showing that the number of full-time workers during 2019 increased by approximately 1.2 million workers over 2018. Between 2018 and 2019, the total number of people with fixed income increased by approximately 2.2 million.
One of the most criticized areas of the Trump administration’s economic policies was tax reforms. Mainly the opposition media always sought to argue that the tax cuts promoted by Trump only favored the richest. However, the numbers show another reality.
As income increased in 2019, the poverty rate plummeted 1.3 percentage points to a low of 10.5% in the last 60 years. This was the largest reduction in poverty in more than 50 years. 4.1 million people were lifted out of poverty during 2019, the largest annual decline since 1966. In contrast, during the Obama/Biden era, the number of people living below the poverty line increased by 787,000.
Trump was often unfoundedly criticized for being racist and anti-immigration. However, these groups have benefited most from economic policies in recent years.
While the overall poverty rate declined by 1.3 percentage points, black poverty declined by 2.0 percentage points, Latino poverty declined by 1.8 percentage points, and Asian poverty declined by 2.8 percentage points.
Since 2016, economic policies aimed at the well-being of the most disadvantaged have lifted 1.2 million black Americans out of poverty, the largest reduction in the first three years of any presidency.
The analysis of child poverty is another reason to measure the success of Trump’s programs. At the end of the Obama/Biden era, child poverty had reached 18%, which dropped to 14.4%, resulting in the lowest child poverty rate seen since 1973.
These numbers were affected during 2020 due to the effects of the CCP Virus that forced the country to halt its economy for several months. But they do show the potential for all Americans of President Trump’s growth policies, particularly in comparison to the sharp decline in the economy during the Obama/Biden era.