A new report shows President Trump’s policies continue to benefit American households.
And the news just keeps getting better as household incomes continue to rise.
But Nancy Pelosi is furious that Trump’s policies point to his reelection by a wide margin.
Most Americans would assume that the members of Congress, no matter which side of the aisle, would be happy the American people are doing so well and earning more money while the economy continues to improve.
Well, it turns out, most Americans would be wrong.
The Democrats in Congress are getting more and more furious that Trump’s policies keep showing success, despite their best efforts to stop him.
And some of the least reported Trump victories are in the area of deregulation.
Just last week, a new report by the White House Council of Economic Advisors pointed out that Trump’s deregulation policies will add another $3,100 to the average American household.
This report titled, “The Economic Effects of Federal Deregulation Since January 2017: An Interim Report,” analyzed a sampling of just 20 instances of deregulation policies carried out by the Trump administration.
“The deregulatory efforts of the Trump administration have also removed mandates from employers, especially smaller businesses, and have removed burdens that would have eliminated many small bank lenders from the marketplace,” Casey Mulligan, the chief economist for the Council of Economic Advisers, told reporters on Friday.
“These deregulatory actions are raising real incomes by increasing competition, productivity, and wages,” Mulligan added.
The White House Council of Economic Advisors anticipate these 20 changes alone will save individuals and businesses roughly $220 billion on an annual basis.
They also believe it will boost incomes by 1.3 percent, adjusted to inflation.
The report went on to state:
“The ongoing introduction of costly regulations had previously been subtracting an additional 0.2 percent per year from real incomes, thereby giving the false impression that the American economy was fundamentally incapable of anything better than slow growth, now, new regulations are budgeted and kept to a minimum.”
For example, the price of prescription drugs, which had been climbing steadily for many years, have declined for the first time since 1972.
“We estimate that the results of these actions will save consumers almost 10 percent on retail prescription drugs, which results in an increase of $32 billion per year in the purchasing power of the incomes of Americans (including both consumers and producers),” the analysts wrote.
James Gattuso, Senior Fellow in Regulatory Policy at The Heritage Foundation, was thrilled with the level of detail in the report, telling The Daily Signal:
“They really dug in and looked at rules that really had an impact. This showed a big impact, the administration should not lose momentum. They are nowhere near finished. This is not mission accomplished. There are still a lot of regulations out there.”
The report also noted that consumers are spending less on internet access with an average of about $40 per person – all thanks to the deregulatory actions of Congress and President Trump.
And while President Trump has not been tough enough on the debt and deficit spending, his policies regarding taxes and regulations have been rather impressive from both a conservative and libertarian perspective.
What do you think of Trump’s actions on deregulation?
Please tell us in the comments section.