The United States economy continued to roar to life under President Trump and the Republican-controlled Congress in August, with new data showing small business optimism smashing expectations and reaching the highest level in recorded history.
According to CNBC, the NFIB Small Business Optimism Index surged to 108.8 last month; reaching the highest level in the survey’s 45-year history and beating the previous record reached under President Reagan at 108 in 1983.
“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,” writes CNBC.
“Today’s groundbreaking numbers are demonstrative of what I’m hearing everyday from small business owners – that business is booming,” said the NFIB President and CEO. “As the tax and regulatory landscape changed, so did small business expectations and plans.”
Read the full story at CNBC.
GREAT AGAIN: Small Business Optimism SMASHES RECORDS, Profits Hit All-Time High
The small business optimism index smashed expectations and reached record-breaking highs in April, signaling a soaring US economy under President Trump and the GOP-controlled Congress.
According to Fox Business, the National Federation of Independent Business -America’s largest association of small businesses and entrepreneurs- released the staggering statistics Wednesday; showing profits in April reached the highest levels “ever recorded in the survey’s 45-year history.”
“The day after the election, small business optimism began to surge, and it held at historic levels for 17 months,” NFIB President and CEO Juanita Duggan told Fox.
“Our members in the NFIB are reporting that their biggest problem is hiring qualified workers,” she said. “Taxes are no longer that number one problem.”
The strong report comes days after the Congressional Budget Office announced the largest tax surplus on record for April, with the US collecting over $515 billion last month but spending just $297 billion.
NANCY’S NIGHTMARE: Small Business Optimism SMASHES ALL-TIME Record
A record number of small business owners are expressing optimism and projecting growth following the recently passed GOP tax cuts; with many planning rapid expansion in the immediate future as the US economy continues to roar to life.
According to Bloomberg, the small-business optimism index reached the highest levels seen in its 45-year history this week, with six in ten “components” that measure small business growth posting dramatic leaps.
“The figures show sustained, sturdy business sentiment since the November 2016 election. A measure of plans to boost capital spending in coming months increased by 2 points to 29 percent, consistent with other data indicating robust outlays for equipment,” writes Bloomberg.
The strong economic data matches similar upticks in other indicators, signaling the US recovery continues to soar under President Donald Trump and the GOP-controlled Congress.
Earlier this year, dozens of massive American corporations -such as AT&T, Walmart, Disney, Starbucks, American Airlines, UPS, Home Depot, and others- raised wages and paid out big bonuses after President Trump signed the sweeping tax reform into law.
Despite the data, leading Democrats continue to downplay the dramatic economic recovery.
“We must continue showing the public how unfair the GOP Tax Scam is to the middle class,” Nancy Pelosi said earlier this week.