“I’m not running to be President of the world. I’m running to be President of the United States – and as your President, I will fight for every last American job.” President Trump said these words during a campaign speech just four months before taking office. This quote couldn’t be more true. As his first year in office is coming to an end, President Trump has prioritized growing the economy, creating jobs and rolling back regulations with tremendous results.
President Trump took office with his sights set on overregulation. On January 30, 2017, he announced that for every new regulation introduced, two regulations must be eliminated. Over the last year alone 1,579 regulations have been eliminated, delayed or streamlined, saving $8.1 billion. However, in 2018, the stakes are even higher. Agencies are planning to eliminate three regulations for every new regulation introduced, and are committed to achieving a net savings of almost $10 billion.
Congress has also made a point to roll back regulations. Earlier this year the House of Representatives passed both the Midnight Rules Relief Act and the Regulations from the Executive in Need of Scrutiny (REINS) Act. Both of these bills aim to prevent outgoing administrations from passing costly rules without Congress having the ability to overturn them. The REINS Act specifically requires Congress to approve major rules and regulations which result in an annual economic impact of at least $100 million before they take effect.
But these results should not just be measured at the federal level. Cutting back regulations has tangible impacts for hardworking Americans. During President Obama’s term, the unemployment rate was as high as 10 percent. Compare that to President Trump’s first year in office. The latest report had the unemployment rate at 4.1 percent, which is lower than it had been during any point in the Obama administration. The only number going up is the number of jobs added to the economy. So far under President Trump, more than 1.5 million jobs have been added to the U.S. economy.
Not only are more Americans getting back to work, the stock market has reached new heights during this administration. The Dow Jones, Nasdaq and S&P have hit record highs, with the Dow Jones rising 5,000 points in a year for the first time in its history.
Since his first month in office, President Trump’s bold leadership has proven to impact every aspect of the economy. I will continue to work with him to reduce regulatory burdens and make our economy even stronger.
I am not a supporter of Mr Long, but I do respect that he was elected by SW MO. That said, ARE YOU F------ KIDDING ME with the unemployment BS here? How dare you blame 10% unemployment on Obama after the financial crisis created during the Bush administration. To take credit after 1 year is pure garbage and you know it Mr. Long. Besides that, your entire party claimed the unemployment improvements under Obama were false as well as calling the stock market a bubble waiting to burst. How can you claim credit with a straight face? Where do politicians get the gall to state such things with no shame? Remember DOW 7,000, Mr Long? Let us hear you say that Obama more than doubled the stock market before you take any more credit for a long improving economy. Obama started in the on deck circle with no one on base and 2 strikes against him. You and Trump started on third base. Get over yourself.
ReplyDeleteI love how politicians take credit for stock market increases and consumer confidence. Trump has nothing to do with the gains now just as obama had nothing to do with the increases when he was in office. Supply and demand, world events (911 ring a bell?), tech bubbles, corrections, etc. Take some economics classes people, educate yourself.
ReplyDeleteBetter call Judd....
ReplyDelete