During his campaign to become president in 2016, President Donald Trump repeatedly committed to rebuilding American industry and regaining lost jobs. Although mainstream media and some economists were incredulous to the promises of the then candidate; during his four years in office he led the manufacturing industry to historic growth.
The first to show his disbelief was then Democratic President Barack Obama, who according to Breitbart maintained that the downward trend in U.S. industry was the result of a broader global trend and not due to economic policies.
“Well, how exactly are you going to do that?” Obama asked rhetorically in 2016 about Trump’s promise to develop the industry, “What exactly are you going to do? There’s no answer to it. He just says, ‘Well, I’m going to negotiate a better deal.’ Well, what, how exactly are you going to negotiate that? What magic wand do you have?“
Obama’s comments were followed by the entire mainstream media, which relentlessly replicated the thought of disbelief about the possibility of regaining manufacturing and jobs in the United States.
However, reality showed that a few months after President Trump took office in January 2017, manufacturing jobs began to skyrocket.
By the end of 2017, the Trump administration had implemented a package of strategic measures that succeeded in reducing the bureaucratic procedures that hindered trade, stated Forbes magazine. In addition, and not least, through subsequent tax and labor reforms it achieved a significant reduction in tax expenditures for both business owners and private individuals.
Because of this set of measures, among others, the manufacturing sector has added 467,000 new jobs, more than six times the 73,000 manufacturing jobs added in the last two years of Obama, Breitbart’s publisher reported in his new book “50 Things They Don’t Want You To Know About Trump.”
Another interesting fact when comparing Obama’s policies to those of President Trump is that more than two manufacturing jobs were added for every job added in government at the federal, state, and local levels. In contrast, under the Obama administration, nearly five government jobs were added for every industry job.
Justin Haskins, director of the Heartland Institute, noted in an opinion piece on The Hill in January 2020 regarding the U.S. economy and criticized Obama for his comments and Democratic policies in general, “It turns out that you don’t need incantations or even a ‘magic wand’ to improve manufacturing job growth. You do, however, need public policies in place that promote U.S. businesses, instead of punishing them with ever-higher taxes, regulations, and mandates.”
The exponential growth of the manufacturing sector during the Trump administration did not simply mean an increase in production, but brought with it a significant increase in employment, consequently a growth in consumption rates and the consequent revival of other sectors that were stagnant.
Consequently, the “U.S. Income and Poverty” report developed by the Census Bureau for the period 2019, was presented on Sept. 15 and showed the overwhelming and indisputable success of an economic recovery produced under the Trump administration during the year 2019 and early 2020 until the arrival of the CCP Virus.
The real average income in 2019 in family and non-family households increased by 7.3% and 6.2%, respectively, compared to 2018. This is the fifth consecutive annual increase in average household income for family households and the second consecutive increase for non-family households.
With respect to health, according to the U.S. Health Insurance Coverage: 2019 report, the percentage of people with health insurance coverage for all or part of 2019 reached a record 92.0% of the population.
As income increased in 2019, the poverty rate plummeted 1.3 percentage points to a low of 10.5% in the last 60 years. 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. In the last few months it can again be seen that the economy is gradually returning to the previous rhythms of the CCP Virus pandemic.