Tracking Trump - Direction of the Country for January 12th:
Bottom Line: For years, despite generally favorable approval ratings for President Obama, we'd collectively been unhappy with the overall direction of our country. In the first year of the Trump Presidency we've seen the scenario reversed.
Where we stood on Inauguration Day:
Right Direction: 30%
Wrong Track: 59%
Net: -29%
Last Week:
Right Direction: 37%
Wrong Track: 54%
Net: -17%
And Today:
Right Direction: 37%
Wrong Track: 53%
Net: -16%
Change: +13% since Inauguration Day & +1% from last week
We're continuing to see improved optimism in the early days of the new year. No major changes this week but slightly fewer people think we're on the wrong track this week. The passage of the new tax law along with continued economic momentum have led to the biggest one month rise in our perception of the direction of our country in years. While still in negative territory, we're the most optimistic we've been since May of last year and significantly more optimistic than we were under the Obama administration generally. Aside from a brief period last spring we're the most optimistic we've been as a country since February of 2015.
Of course, there's plenty of reason for that optimism...
Economic growth over 3% for the first time in 12 years
Base unemployment rate is the lowest in 17 years
Corporate profits are at all-time highs
The stock market is at all-time highs amid a record run
Retirement account balances are at all-time highs
Wage growth is at ten+-year highs
Combined wage growth & impact of tax reform savings has led to the largest one-year increase in average retained income in 32 years (7%+)
Now we're hearing about a potential bipartisan DACA/Wall immigration deal. Will it happen? What will the details be if it gets done? The spirit of constructive bipartisan reforms would have the potential to continue improve our mood...Until next week.