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Donald Trump's Economic Policy Success : Donald Trump inherited an economy in January 2017 from Barrack Obama. At that point of time the US economy was faring well with low inflation, unemployment rate of 4.7% and moderate fiscal deficit.
Donald Trump's Economic Policy Success Since Jan 2017 to March 2020
Donald Trump's Economic Policy Success was based upon "America First" economic strategy. When he took over the power the US economy was boosted via tax cuts and additional spending. Three years down the line Donald Trump was successful in giving a healthy economy to US citizen.
In his 3 years Donald Trump was successful in lowering the unemployment rate which hit a 50-year record low of 3.5% in September 2019. In a report released by White House in February 2020, Donald Trump quoted, "In just three short years, we have shattered the mentality of American decline, and we have rejected the downsizing of America’s destiny."
The report mentions the growth of American economy in three years of Donald Trump's Presidency. Following points were highlighted in the report: <\p>
Real GDP growth under President Trump has beaten the Congressional Budget Office’s (CBO) projections every year and exceeded the rate of the Obama Administration’s expansion.
5 million more jobs have been added than the CBO projected prior to the 2016 election.
The unemployment rate is 1.4 percentage points lower than the CBO’s pre-election projection.
Nearly 7 million jobs have been created nationwide since President Trump’s election, including more than 500,000 manufacturing jobs.
Nearly 2.5 million Americans have been lifted out of poverty, including nearly 1.4 million children.
Real household wealth has increased by nearly $12 trillion since the start of 2017.
Doubling the Child Tax Credit has saved nearly 40 million families an average of $2,200.