Among the administration’s West Wing Reads today, are the following economic and politically laced items.
“American business confidence in the world economy has surged, adding to an uptick in overall optimism as U.S. tax cuts and looser regulation improve the outlook for domestic growth, according to a new study,” Vince Golle reported for Bloomberg.
“The survey also showed 89 percent were confident in the U.S. economy’s prospects this year, up from 80 percent in 2017 and 39 percent in 2016. Some 70 percent said the reduction in tax rates would benefit their companies,” Golle noted in his report for the left-of-center publication.
It’s Clear…
In RealClearPolitics, David Farr and the National Association of Manufacturers (NAM) President Jay Timmons write that “the past year has been transformational” for American manufacturers.
“We hear it every day from manufacturers of all types, from large iconic brands in big cities to family-owned businesses in small towns: We’ve never been this optimistic about the future.”
A recent video that featured Timmons is posted at the link below.
“Bad News…”
“Bad news for Democrats: House Minority Leader Nancy Pelosi’s (D-Calif.) tax bill ‘crumbs’ are feeding a monster rally in optimism across the country,” Liz Peek writes in the slightly left-to-centrist The Hill. “Approval of the GOP tax cuts climbs steadily higher, fueling faster growth and increasing investment and undermining Democrats’ chances of a ‘blue wave’ in November,” Peek explained.
The West Wing didn’t say it, but Republican National Committee (RNC) fundraising is once more outpacing Democratic National Committee (DNC) fundraising, by almost two to one in the most recent monthly federal report.
The generic ballot between a Democrat and Republican is moving towards toward Republicans too. President Donald Trump’s approval rating is actually 3 points higher than President Barack Obama was at this point in his administration (48 percent to 45 percent), says Drudge.
But that doesn’t mean that the GOP should be complacent. Democrats have flipped some seats in normally red states or typically Republican strongholds. To rephrase, the signals are mixed, and it’s a jump ball at this point, heading toward midterm elections.
Industry readers are reminded that the regulatory and tax reforms that are sparking economic growth are the offspring of policy positions that POTUS Trump’s opponent did not support. ## (News, analysis, and commentary.)
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