Trump Effect

Trumpanomics News: Median Household Income Equals All-Time High

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The good news for President Donald Trump’s economy keeps rolling in. This time it is news that the U.S. median household income now equals the all-time high.

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According to CNSNews, the U.S. has hit $61,372 in 2017, equaling the nation’s all-time.

“Median household income was $61,372 in 2017, an increase in real terms of 1.8 percent from the 2016 median of $60,309,” the Census Bureau said. “This is the third consecutive annual increase in median household income.”

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Table A-1 in the annual income and poverty tables released today by the Census Bureau showed median household income going back to 1967 in constant 2017 dollars. In this table, the $61,372 median household income for 2017 was the highest in any year.

The second highest median household income was $60,062 in 1999 (in constant 2017 dollars) and the third highest was $59,534 in 2007 (in constant 2017 dollars).

This is hardly the first bright spot in the era of Trumponomics.

After eight years of self-destructive policies under Obama, in just two short years under Trump, America is again enjoying a massive boom. According to reports we have the lowest unemployment for decades, the highest optimism for small businesses, and we even saw a boom in summer travel.

Only days ago the airlines reported that we have had the most summer travelers in years as Americans find more disposable income to take trips and vacations.

According to the Washington Examiner:

“With a growing economy, steady employment gains, and household net worth at an all-time high in the first quarter of 2018 ($100.8 billion), passengers are taking advantage of persistently low airfares,” a spokesperson for Airlines 4 America, which represents the largest U.S. airlines, wrote in an email to the Washington Examiner.

From the Wednesday prior to Memorial Day and the Tuesday after Labor Day, the Transportation Security Administration processed 253 million passengers and crew, a 6 percent jump from last summer.

The TSA said that nine of the top 10 busiest weeks in its 15-year history occurred this summer.

That was just one bit of good news this week. We also found that the small business sector is filled with more optimism than ever. CBNC reported

U.S. small business optimism surged to a record in August as the tax cuts and deregulation efforts of President Donald Trump and the Republican-led Congress led to more sales, hiring and investment, according to a survey by the National Federation of Independent Business.

The NFIB Small Business Optimism Index jumped to 108.8 last month, the highest level ever recorded in the survey’s 45-year history and above the previous record of 108 in 1983, set during the second year of Ronald Reagan’s presidency. The August figure was up from a 107.9 reading in July.

Indeed the good news on jobs has also come in hot and heavy. For instance, at the end of August the unemployment rate hit the lowest since 1969.

The, just last week, we found more good news when unemployment claims came in at its lowest rate in nearly 50 years.

Even as Democrats float fake stores about Trump insiders seeking to derail his presidency, the Trump era economy is still humming along. Today’s good news is that unemployment is at a 49-year low.

This is just one more example of how the Trump era has succeeded in just two years, far more than Obama ever did in eight years.

The Hill had the great news:

Initial claims for state unemployment benefits fell to a seasonally adjusted 203,000 for the week ending Sept. 1, a drop of 10,000 from the previous week, the lowest level since December 1969, the Labor Department said on Thursday.

The four-week moving average, which is a better indicator of where the job market is headed, was 209,500, a decrease of 2,750 from the previous week, the lowest level for this average since Dec. 6, 1969, when it was 204,500.

The economy, which grew at a robust 4.2 percent pace in the April through June quarter, is chugging along despite headwinds from President Trump’s trade policies. Trump has applied steep tariffs on steel and aluminum imports and duties on $50 billion worth of Chinese goods.

So, the era of Trumponomics has brought the U.S.A. back to the brink of financial success since before the towers fell in 2001.

Obama couldn’t do it. No Democrat could — or would even want — to do it.

It took Donald Trump to do it. And if you want to put an end to this great success, let the Democrats win in the coming election.

Follow Warner Todd Huston on Twitter @warnerthuston.

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