Aug 19, 2017 5 min read

The media in the past week or so has been full of overwrought discussions, many focusing on what is wrong with America and, particularly, the leaders of this nation. These discussions have been full of emotion, conjecture and speculation, and very short on provable facts, as distinguished from what the media is calling “fact.”

This discourse is entirely negative and, while it might be fun to jump in and provide some adult perspective, I will instead focus on the discussion of what is real, provable and positive in our nation and what is affecting Washington County in a positive way.

What is very positive is what is going on with our economy. When President Trump took office, he was handed a stagnant economy – a historically stagnant economy, in fact. The eight years of economic suppression under President Obama were the first time in American history that not one year saw economic growth of 3 percent or more. Average economic growth under Obama was, in fact, an anemic 2.1 percent, the fourth-lowest in history for any president. Obama’s war on business featured massive federal regulation that cost the economy more than $100 billion a year.

Trump has begun a focused program to end the massive federal regulations on American business and individuals, along with tax reform. There are already positive results.

Since Trump took office, more than 1 million private-sector jobs have been created. It is important to note that these are in the private sector, because private-sector jobs help to create wealth. Under Obama, most new jobs were in the public sector, which do not create wealth, but drain money from the economy. Many Americans who had given up looking for work have now rejoined the work force, unemployment is at a 16-year low, consumer confidence is at a 16-year high and the stock market is setting new record highs.

As Trump promised, “Made in America” is a growing reality, with 16,000 new manufacturing sector jobs added in July alone, following the 9,000 in June.

Trump has already eliminated many onerous regulations on American business. He has approved the Keystone XL and Dakota Access pipelines, which will create jobs and add to America’s energy independence. He is in the process of reviewing and renegotiating unfavorable trade agreements from the previous administration, an action likely to bring jobs back to America.

Trump recently announced Taiwanese manufacturer Foxconn and Japanese automakers Toyota and Mazda would open plants in the United States. The Toyota-Mazda assembly plant will involve $1.6 billion in investment and create 4,000 manufacturing jobs. The Foxconn plant will involve an investment of nearly $10 billion.

The policies and performance of Trump have resulted in high levels of optimism in both large and small businesses. The Index of Small Business Optimism is at or near its highest level since 2004, under President George W. Bush. Small-business owners are very positive about the president’s promise, and actual delivery, on deregulation, as well as expectations of tax reform and infrastructure spending. While small-business hiring remains strong, it is weakening as Congress fails to deliver on tax and health care reform. Current health care regulations are suffocating small business and relief is required quickly.

For major job creators, the Business Roundtable’s CEO Economic Outlook Index increased 19.1 points to 93.3, the biggest quarterly increase since the first quarter of 2009. This is the first time in seven quarters that the index has been above its long-term average of 79.8. An index above 50 indicates expectation of economic expansion.

Major job creators are particularly interested in the president’s plans to reduce corporate taxes, invest in infrastructure and reduce onerous regulations. Tax reform was the single biggest issue with corporate executives. The executives generally see the economy as strengthening and anticipate an increase in capital spending.

The Federal Open Market Committee forecasts the gross domestic product to rise to 2.2 percent in 2017 and drop to 2.1 percent in 2018. Unemployment should drop to 4.3 percent in 2017 and 4.2 percent in 2018. Many jobs, however, will still be less than full-time, and in lower-paying service industries, meaning there is still room for significant growth.

Inflation is forecast to be 1.6 percent in 2017, and 2 percent in 2018 and beyond. Manufacturing is forecast to grow at a rate faster than the economy as a whole, reaching 3 percent in 2017. This is very positive.

Interest rates, including rates on mortgages and credit cards are forecast to increase. Deposit rates are expected to increase slightly. Energy prices, critical to this region, are forecast to improve slightly in 2017 and 2018 and then begin to increase more rapidly by 2020.

For the people of Washington County, these numbers mean a brighter future. Increasing gross domestic product means new businesses are starting, and existing businesses are growing. This means more jobs and higher wages. Stable inflation rates mean that the purchasing power of wages remains stable. When manufacturing grows, it means that good, higher-paying jobs are being created. Increasing energy prices, of particular interest in this area, mean that the many companies headquartered and operating in the county will again be hiring people for high-paying jobs in the energy sector. The stock market is up nearly 20 percent, and that certainly helps fund pension plans and 401(k)s for a lot of workers.

Trump and his administration have made a great start in only seven months. This isn’t the glitzy stuff that sells newspapers, and goodness knows the mainstream media has neither reported it nor given him any credit for it. But it is the work of a responsible government that is felt by working Americans – largely the people who voted for the president.

The real irony is that if the obstructionists would just get out of the way, many of them would also benefit, whether they want to admit it or not.

Ball is a Peters Township councilman, second vice-chairman of Washington County Republican Party and the chairman of Peters Township Republican Committee.