Staff Reports
In a landscape often painted with doom and gloom, it appears that the tide may be turning for the American economy, with incomes rising nearly $1,200 as of June. This upbeat news has been shared by none other than Steve Moore, a co-founder of the Committee to Unleash Prosperity. In his discussions, he highlights the impressive economic gains made during President Trump’s first term and suggests that we may be on the brink of another resurgence come 2025.
Moore emphasizes the stark contrast between the economic narratives of the past administration and the current trajectory. He recalls the predictions made by the left when Trump first took office—warnings of a looming economic disaster and a plummeting stock market. According to Moore, those doomsday prophecies never came to pass. Instead, families in the middle-income bracket saw an average income increase of about $5,000 during Trump’s first term, as compared to the much more modest gains under President Biden.
When asked about trade deals and their importance, Moore pointed to the complexities of dealing with China, which he describes as a significant adversary on the global stage. He affirms that while trade agreements with other nations, such as in Europe and the UK, have been beneficial, the real challenge remains in holding China accountable to any agreements made. The economic advisor posits that Trump’s approach, rooted in a mix of tariffs and negotiations, has been effective in pushing other countries toward a more level playing field.
But what about the stock market? It’s been soaring recently, yet the question arises—are we riding a “sugar high” or is this a sustainable climb? While Moore expresses uncertainty about the exact future of the stock market, he does reflect on its robust performance during Trump’s presidency, noting significant increases across major indexes like the S&P 500 and the Dow Jones. The economic signals, he believes, are promising, and there are expectations that substantial investments could further boost the market.
Lastly, a discussion on interest rates and borrowing brings up an interesting point about savings. Lower interest rates undoubtedly make borrowing cheaper, but they can also complicate saving for the average American. Moore explains the importance of maintaining a stable currency and insists that a strong monetary policy is crucial for long-term growth. With inflation rates significantly reduced from previous highs, he believes there’s still work to do to alleviate high grocery prices and other everyday expenses.
As the economic horizon brightens, it seems that Americans might have reason to feel optimistic about their financial futures. With sound policies and a focus on growth rather than mere regulation, the country may indeed be on the path to prosperity once again. While the debate continues about the best approach to trade and economics, one thing’s clear: there’s plenty of potential for the American dream to thrive once more.
