Profile picture
CEA
, 13 tweets, 5 min read Read on Twitter
The 2019 Economic Report of the President is out! You can read it here: whitehouse.gov/wp-content/upl…
Real GDP grew 3.1 percent during the 4 quarters of 2018, and was the fastest Q4-to-Q4 growth since 2005. It was also 0.9 percentage point above the pre-TCJA trend, and 0.8 percentage point faster than the last term of the previous administration
Investment by independent businesses rose sharply following passage of #TaxCuts, rising $26 billion above pre-TCJA trend by the end of 2018
Blue collar employment is rising, with 215,000 blue collar jobs added in 2018, currently 301,000 above the pre-election expansion period.
In 2018, there was an influx of workers coming off the sidelines. In Q4, 73% of the flows into employment came from workers who were out of the labor force rather than those who had been unemployed -- the highest share ever recorded.
Nominal hourly wages grew 3.4% in 2018 -- the fastest pace since 2009 and the 7th straight month above 3%. And it's the lowest wage earners seeing the wage fastest growth.
The full-income poverty measure indicates poverty declined to 2.3% in 2017 (latest data available) compared to 12.3 percent under the official poverty measure. Aditionally, over 5 million people have been lifted off food stamps since the election.
Decreasing regulatory burdens and overturning costly regulations is unlocking economic potential. For every significant reg action in FY2018, there were 12 dereg actions. That translates to savings of $3.2 billion, or $49 billion in present value savings.
In Feb 2019, prescription drug prices had the slowest growth in 46 years. The price of Rx drugs relative to the Consumer Price Index has fallen 11% below it's pre-inauguration trend.
Businesses are investing and taking out more loans, which is good for the economy and American families. C&I loans now exceed $2 trillion and total loans exceed $10 trillion -- both the highest ever recorded.
Workers rightly worry that artificial intelligence and tech may eliminate jobs. The example of the ridesharing/gig economy suggests this is not the case; ridesharing has increased the # of drivers, lowered costs to consumers, and increased flexibility for drivers + platform users
Production declines substantially when socialist regimes take over -- sometimes by more than 50%. In contrast, capitalism spurs growth and prosperity.
The US is now the largest producer of crude oil and natural gas in the world -- surpassing Saudi Arabia and Russia. We are also a net natural gas exporter for the first time since 1957.
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to CEA
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!