Economic confidence is rising
Bottom Line: That last time we had sustained economic growth for two years that were as good as the last two, dial-up internet was still a thing. What’s more is that with income growth pacing 3.8% year over year and record low unemployment – the average standard of living has never been better in US history. So much so that the average Millennial is earning about $10,000 per year more than their parents at the same age even when adjusting for inflation. And despite the negatives that gain the attention in the news. Most of us are feeling it and get it. According to Gallup we’re the most optimistic we’ve been about our personal finances as a country since 2002. Here are a few highlights...
- 69% feel they’ll be better off financially in a year
- 56% say their financial condition is good or excellent
- 15% say their financial condition is poor
Tells a story doesn’t it? And it’s a powerful one heading into the 2020 cycle too. If it’s still about “the economy stupid”, President Trump’s positioned to win in a landslide if he continues to build on the economic success of his administration between now and November of next year.