A new report from the Bureau of Economic Analysis reveals that American money is pouring back into the United States under President Donald Trump. Despite Democrats pushing doom-and-gloom, the president’s policies have resulted in millions of new jobs, a booming economy, unemployment hitting record lows, GOP tax cuts, and the markets soaring to unprecedented levels.
As noted by Fox Business, American CEO’s pumped $305 billion back into the U.S. in the first quarter of this year, the most ever recorded in history. In the first quarter of 2017, when the Obama administration’s policies were still largely in place, only $38 billion was repatriated. So, with Obama’s policies intact, just $38 billion was poured into the U.S. One year later, ten times that amount was pumped back into America under Trump. The liberal media refuses to report on the fact that there is one reason why these numbers have increased.
Kevin Hassett, the president of the Council of Economic Advisers, said Trump’s economic policies and agenda are undoubtedly responsible for billions of dollars pouring back into America. If the U.S. continues at the same rate for all four quarters, $1.2 trillion dollars could be repatriated and brought back to the U.S. economy.
“U.S. firms that used to build their factories overseas in order to avoid U.S. taxes, they stopped in their tracks because of the tax bill, they are bringing all the money home,” Hassett said.
The BEA’s report states that the main driver of the surge is that companies are no longer taxed on foreign earnings when returning the money back to the U.S.
Hassett notes that if the hundreds of billions of dollars will be used to hire Americans, boost wages, and other measures to help workers, it will continue to drive down unemployment, boost the GDP, and grow the economy at levels that have never been seen before.
It’s vital to understand how significant that is.
The liberal media outright refuses to report on this because it shows how Trump’s policies are taking the country to levels that this nation has never experienced.
While Obama stifled the nation’s growth, the Trump administration is on the verge of breaking its own historic records.
By the end of the year, the BEA forecasts that the U.S. economy could be hitting 4 percent GDP. On average, the GDP was 2.6 percent under the Obama administration.
That difference alone will result in hundreds of billions of dollars being pumped back into the U.S., which, in turn, will create more jobs, higher wages, and help the economy even more.
While Democrats and the liberal media refuse to cover Trump’s historic successes, America is on the verge of hitting economic successes that were previously believed to be unachievable.