Economic Situation in America during Trump Presidency

America’s Institutional Economic Situation Under Trump’s Presidency
During the campaign, Donald Trump promised Americans that if he is elected, he would ensure that the country’s economy grows steadily in all sectors. Since being sworn in as the 45th president of the United States, Trump has been engaged in a variety of economic activities, including working with business leaders to develop an economic blueprint to ensure that the country’s economic development is boosted. This article examines the current economic condition in the United States as it relates to the Trump presidency.
The first economic consequence that has been linked to the Trump administration is that there has been a stagnation when it comes to the rate of employment that the Americans are experiencing at the moment as opposed to how they had hoped. The situation is the same as it was when President Obama left the office. The rate of unemployment has remained the same because economic growth during the first quarter of the Trump presidency was anemic as there was nothing unique that was experienced by various sectors of the economy. For instance, Trump had indicated on his twitter account that the economy had grown in the first quarter, but available data indicates that there has been no positive growth and this is evident in the slump in the value of the dollar which also affected the rate of job creation within the country (Schwartz, 2017).
The second economic situation the United States is at is that there have been sensible tax reforms that have been linked to the Trump administration that have been able to stimulate economic growth after the first quarter of his presidency. There have been the amnesty tax reforms that have been taken place when it comes to multinational companies that are involved in the reparation of the preceding profits. This will see a harmonized tax cuts that will be taken by the American government that in the long run will impact positively on the economic growth of the country. Hence, the tax reforms that are associated with the Trump administration are critical to the growth of the economy in a positive manner since it invites many companies into the United States and it also ensures that the already existing companies in the United States continue operating within the country (Riddell, 2017).
The third economic situation of the Americans in the hands of the trump presidency is that there is has been an increase in the rate of consumer confidence which is the highest for the past seventeen years. It is related to the various economic policies that the Trump administration has undertaken to ensure that the consumer is highly fevered economically. The consumers have been able to indicate that there has been an improvement when it comes to the business outlook when it is viewed in short term perspective. In a nutshell, the American consumers have indicated that they have felt that there has been a steady improvement regarding their economic conditions and that of the country since Trump took over from President Obama. Despite the fact that there has been a drop in the favorability of the Trump presidency, the economic favorability of his administration is higher, and this is because of the economic policies that he has undertaken that tends to fever the people positively (Riddell, 2017).
The last economic effects that the Americans are experiencing under the presidency of Donald Trump is that there has been an increase in the economic growth of 2% which is being conspired as being positive because of the economic hard times to the second term of President Obama. The banks in the United States are expecting more positive economic growth despite the slow start that was experienced when Trump took over as the president. Also, through the slight increase in the economic growth of the United States, there has been an impact on the growth of the household income by two percent. The growth of the household income has ensured that most of the Americans are experiencing a favorable economic situation within the country, and this is more so when it comes to individuals who are working. With the increase in household income, the American people are now able to afford some of the basic needs that were hard to get with the difficult economic conditions that they were subjected to during the last term of the Obama presidency. Hence, it is true to indicate that indeed the positive consumer view in the country is due to the increase in the household income which has empowered the consumption rate of the people (Schwartz, 2017).
The essay has analyzed the situation of the American economy since Trump took over as the president. The analysis has indicated that there both positive and negative impacts of his presidency to the county and the people. It remains to be seen if the economic situation will shift in in the coming years of the Trump presidency.
References
Riddell, K. (2017, April 4). The Trump effect: For first time since economic crisis, Americans positive about economy. The Washington Times. Retrieved from
http://www.washingtontimes.com/news/2017/apr/4/trump-effect-americans-positive-about-economy/
Schwartz, N.D. (2017, July 6). Hopes of ‘Trump Bump’ for U.S. Economy Shrink as Growth Forecasts Fade. The New York Times. Retrieved from https://www.nytimes.com/2017/07/06/business/economy/united-states-economy-gdp-trump.html