Trump Touts Economy at SOTU: "This Is A Blue Collar Boom" | Video | RealClearPolitics

Trump Touts Economy at SOTU: "This Is A Blue Collar Boom"


PRESIDENT DONALD TRUMP: The unemployment rate for women reached the lowest level in almost 70 years and last year women filled 72% of all new jobs added. The veteran’s unemployment rate dropped to a record low. The unemployment rate for disabled Americans has reached an all time low. Workers without a high school diploma have achieved the lowest unemployment rate recorded in US history. A record number of young Americans are now employed. Under the last administration, more than 10 million people were added to the food stamp rolls. Under my administration, 7 million Americans have come off food stamps and 10 million people have been lifted off of welfare.

In eight years, under the last administration, over 300,000 working age people dropped out of the workforce. In just three years of my administration, 3.5 million people, working age people, have joined the workforce. Since my election, the net worth of the bottom half of wage earners has increased by 47%, three times faster than the increase for the top 1%. After decades of flat and falling incomes, wages are rising fast and wonderfully they are rising fastest for low income workers who have seen a 16% pay increase since my election. This is a blue collar boom. Real median household income is now at the highest level ever recorded.

Since my election, US stock markets have soared 70%, adding more than $12 trillion to our nation’s wealth, transcending anything anyone believed was possible. This is a record, it is something that every country in the world is looking up to, they admire. Consumer confidence has just reached amazing new highs. All of those millions of people with 401ks and pensions are doing far better than they have ever done before with increases of 60, 70, 80, 90 and 100% and even more. Jobs and investments are pouring into 9,000 previously neglected neighborhoods, thanks to Opportunity Zones, a plan spearheaded by Senator Tim Scott, as part of our great Republican tax cuts. In other words, wealthy people and companies are pouring money into poor neighborhoods or areas that haven’t seen investment in many decades, creating jobs, energy and excitement. This is the first time that these deserving communities have seen anything like this. It’s all working.

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