Since the election, we have created 2.4 million new jobs, including 200,000 new jobs in manufacturing alone. After years of wage stagnation, we are finally seeing rising wages.
Trump is counting jobs since election day 2016, months before he became president. About 1.8m Americans have found jobs since Trumps inauguration, averaging roughly the slowest rate of hiring since 2010.
The unemployment rate in December 2017 was 4.1%, a 17-year low around the country and an 18-year low in some cities.
He is correct that wages started to rise a few years ago after years of stasis; the rise also began before he took office.
African American and Hispanic American unemployment
African American unemployment stands at the lowest rate ever recorded, and Hispanic American unemployment has also reached the lowest levels in history.
It is true that the unemployment rate for African Americans reached a record low in December 2017, dropping to 6.8% (the previous lows were 7% in April 2000 and September 2017).
The unemployment rate for Hispanic Americans is not a record, but close to it, at 4.9% last month; the record is 4.8% in October 2017.
Before he was elected and began to cite them, Trump repeatedly derided unemployment numbers from the Bureau of Labor Statistics, calling them fake and nonsense.
Whether the president can take credit for these rates is more complicated, and tied up in the question of how much any president can affect the economy besides indirectly, through regulations, stimulus packages, and other measures.
Unemployment across all demographics declined from 2010 to 2016, during six years of Barack Obamas presidency. African American unemployment more than halved, from a 16.6% peak in April 2010 to 7.8% in January 2017; Hispanic American unemployment similarly fell from 13% in August 2009 to 5.9% in January 2017.
We enacted the biggest tax cuts and reforms in American history. Our massive tax cuts provide tremendous relief for the middle class and small businesses.
A typical family of four making $75,000 will see their tax bill reduced by $2,000 slashing their tax bill in half.
This April will be the last time you ever file under the old broken system and millions of Americans will have more take-home pay starting next month.
The tax cut signed into law last month is not the largest in American history, but the eighth largest, at about 0.9% of the gross domestic product. In 1981, Ronald Reagan signed the largest cut, at 2.89% of GDP.
The $1.1tn tax cut will mean lower taxes for every income bracket in 2019, but it is misleading to suggest that those cuts will last for everyone.
Over time the cuts disproportionately save money for the wealthiest. Some of the tax cuts phase out in 2025, meaning that by 2027 Americans earning less than $75,000 will see tax increases. More than 75% of the savings will go to people who earn more than $200,000, according to Moodys, or about 5% of taxpayers.
Small business confidence is at an all-time high. The stock market has smashed one record after another, gaining $8tn in value. That is great news for Americans 401k, retirement, pension, and college savings accounts.
Its true that the stock market is booming: the Dow Jones surpassed a record 26,000 points and saw its fastest-ever 1,000-point gain during the last year.
The stock market is not the economy, however, and does not reflect marginal wage gains and growing inequality. A Federal Reserve report published last year, for instance, found that the wealthiest 1% of American families controlled 38.6% of the countrys wealth in 2016.
Since we passed tax cuts, roughly three million workers have already gotten tax cut bonuses many of them thousands of dollars per worker.
Its true that several large corporations, such as Apple, Bank of America and Walmart, gave thousands of minimum-wage employees bonuses in the range of hundreds to a few thousand dollars, which they said were linked to the new tax plan. Those bonuses respectively cost the companies $300m, $145m, and $400m pennies compared to the savings bestowed by the new tax plan on large corporations: Apple will likely save a minimum of $40bn from the tax cuts; Bank of America $2.7bn and Walmart $4bn.
Coal, energy and cars
We have ended the war on American energy and we have ended the war on clean coal. We are now an exporter of energy to the world.
Thanks to a natural gas boom over the last 15 years, the US has become a global energy power. This success of natural gas cheaper, more accessible and cleaner than coal has marginalized the coal industry, limiting Trumps efforts to save the industry.
The phrase clean coal, coined by the coal industry, is itself controversial. The term applies not to any coal itself but power plants that remove heavy metal pollutants in the burning process and bury carbon emissions in the earth. Even such clean coal-fired plants still emit large levels of pollutants.
Many car companies are now building and expanding plants in the United States something we have not seen for decades. Chrysler is moving a major plant from Mexico to Michigan; Toyota and Mazda are opening up a plant in Alabama. Soon, plants will be opening up all over the country. This is all news Americans are unaccustomed to hearing for many years, companies and jobs were only leaving us.
Chrysler is not moving any plant from Mexico; it is keeping the Mexican factory and investing in a Michigan one. Toyota-Mazda have planned for a $1.6bn factory in Alabama, to open in several years. Several of the plans Trump is touting have been in development for several years and the US has steadily increased jobs since 2010, according to the same Bureau of Labor Statistics figures the president earlier cited.
In our drive to make Washington accountable, we have eliminated more regulations in our first year than any administration in history.
Its true that the Trump administration has steadily tried to roll back regulations, but there is no clear way to measure his success regulations are made through a messy process of rule-making, budgets, court cases, Congress and enforcers. Past presidents and Congress massively deregulated airliners and trains in the 1970s and 80s, and Ronald Reagan tried to use budgetary measures to neuter regulations without necessarily battling to erase them completely.
According to the Office of Management and Budget, Trump has withdrawn fewer regulations in his first year than Bill Clinton, George W Bush or Obama did during their presidencies. Earlier this month, the White House claimed that the Trump administration withdrawn or delayed 1,579 planned regulatory actions; according to the OMB, Clinton withdrew 1,824; Bush 2,632; and Obama 1,814.
Nor does ordering regulations gone actually erase those regulations. There is a complex review process behind regulations to make sure they fit with laws, and Trumps attempt to repeal environmental rules, for instance, have landed him in court.
The Trump administration has, however, has worked with Congress to use an obscure 1996 law, the Congressional Review Act, to rescind more than a dozen rules enacted late in the Obama administration. The law had only been used once before.
America has also finally turned the page on decades of unfair trade deals that sacrificed our prosperity and shipped away our companies, our jobs, and our nations wealth.
Trump has fulfilled his promise to abandon the Trans-Pacific Partnership but has not abandoned the North American Free Trade Association (Nafta) or had much success with one-on-one trade deals.
His sweeping language about the effects of trade deals do not tell the whole story. The deals, like most compromises, are a bundle of pros and cons: after China joined the WTO in 2001, the US massively increased cheap imports, according to the Census Bureau, and continued a trend of losing manufacturing jobs that began in the 1990s a trend tied up with the growth of automation. As for Nafta, a Congressional Research Service report concluded it did not cause the huge job losses feared by the critics or the large economic gains predicted by supporters.