Important headlines for October 27th:
Bottom Line: These are the stories you don't want to miss (but probably would if I didn't find them for you)...
How Trump Got Economy Booming in Less Than a Year Peter Ferrara, NY Observer
Excerpt: Early into his administration, Trump’s policies are already restoring growth. Real GDP grew 3.1 percent in the last quarter, up more than 50 percent from the average for the eight years that Obama was president.
In Trump’s first six months in office, more than a million new jobs were created, driving unemployment down to a 16-year low. The stock market set 34 new record highs, with headlines just last week screaming “Dow Races Through 23,000.”
The Conference Board’s Consumer Confidence Index rose to nearly a 16-year high, as did Bloomberg’s Consumer Comfort Index, both contributing to soaring retail sales. The National Association of Manufacturers Outlook Survey rocketed to a record 91.4 percent, the highest two quarter average for manufacturing optimism in the survey’s 20-year history. The Institute for Supply Management reported it’s barometer of manufacturing rose to 57.8, with over 50 indicating expansion of the manufacturing sector. All of this was accomplished with just the promise of pro-growth tax reform based on the Reagan model of lower marginal tax rates.
This is all part of the story I've been telling multiple times per week. This doesn't just happen. And one addition to the end of that thought. On Wednesday I spoke with Special Assistant to President Trump, Helen Ferre, who provided updated info on the number of regulations cut thus far. At last count five months in we were at 800. Today it's over 2,000. That's an enormous part of the story. Earlier in the week IP's CEO said this feels like a 3% economy again. A 3% economy is the average historic US economic growth rate. But it's a rate not achieved for a full year since 2005. All the slandering of President Trump in the world don't change these improved economic fortunes that benefit every American.
Taxes and the Rich--Yes, They Pay Their Fair Share Ari Fleischer, FOX News
Excerpt: The top ten percent of earners, those making more than $138,000 in 2015, made 47 percent of the nation’s income, but they paid 71 percent of the nation’s income tax. The top 1 percent, the people former President Obama decried the most, made 21 percent of the nation’s income in 2015, but they paid 39 percent of the nation’s income tax. Not only are these people paying their fair share, they’re picking up other people’s shares as well.
Ding. Ding. Ding. I recently completed a 2 part series breaking all of this down for you. There are two sides to every story but one side to facts. These are them. What I lament is that more Republicans, including the President, don't echo these. Reagan wasn't afraid to. It's the truth. The education system in this country sure as hell won't educate children as to these truths. The GSS media sure won't. I will, along with a smattering of others in media from time to time, but it'd sure be helpful if top leadership weren't worried about the class warfare BS. Reagan cut the top tax rate to 28% and we entered a two decade period of prosperity. After years of leaders not fit to carry Reagan's jock strap rates are back up to 39.6%. Has the economy performed better or worse since this happened? By the way, if you don't know the answer to that question get your head out of the arse of the GSS media and become educated about what actual economics, rather than the nonsense perpetuated by those more interested in politics than American prosperity.
Trump's Malaysia Gambit: Call It Another Win Ned Ryun, American Greatness
Yes, quietly and quickly many of the failures of the previous administration that led to the rise of ISIS, growth of North Korea's and Iran's nuclear capabilities, empowering Cuba's government and Islamic terror spreading to all corners of the earth is yet another important moment that you'll likely never hear about if not mentioned here. Malaysia has become the latest country to serve economic ties with North Korea. A month ago President Trump hosted Malaysian officials at the White House with this being the stated goal. There was little reporting on it but what there was went like this: The Washington Post: Hosting Malaysian Officials to the White House is a terrible Idea.
I'll not hold my breath for the retraction.