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The Trump Effect: Consumer Sentiment Surges, Including Poorer Households

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One thing you can count on from President Donald Trump is interesting reading in his Twitter feed. One recent set of posts from him celebrated yet another achievement that benefits all of America.

It began with a post about “jobless claims.” Trump was referring to information released by the Labor Department.

But that was just the beginning of Trump rejoicing in good news for the American economy. His next related post was based on the Final Results for September 2018 from the University of Michigan’s Surveys of Consumers.

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Based on the findings, Breitbart reported that, “American consumer sentiment improved again in September, propelled higher as households in the bottom third of incomes hit the highest level since November 2000.” And there was more good news.

Breitbart wrote that some other positives also hadn’t been seen since before Obama took office. “Consumers at every level of income held very optimistic expectations for improved personal finances in the year ahead, the best survey result since 2004.”

In the University of Michigan report, Richard Curtin, their Surveys of Consumers chief economist, wrote that, “Despite a lessening in September of the expected size of gains in nominal incomes, inflation expectations also declined, acting to offset concerns about declining living standards. Consumers anticipated continued growth in the economy and expected the unemployment rate to continue to slowly decline during the year ahead.”

However, the survey also noted something that has been making a lot of headlines as of late: concern about tariffs.

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Curtain noted that tariffs were “the single issue that was cited as having a potential negative impact on the economy.” Interestingly, in the results he found that, “Those that voiced negative views of tariffs also held much less favorable prospects for the economy and held inflation expectations that were 0.6 of a percentage point higher than those who didn’t mention tariffs.”

On social media, some members of the public also celebrated the great economic news. Many were quick to give credit for it to Trump and his policies.

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Of course, some were quick to point out the error, again, of Nancy Pelosi’s infamous “crumbs” statement. That is just one of many things she’s said that may continue to come back to haunt her throughout Trump’s presidency.

Just the day before Trump celebrated the economic news, he was celebrating good news for Republicans. He cited a Gallup poll published on September 24, 2018.

With such ongoing good economic news, including for poorer household in America, November’s midterms are looking better and better for Republicans. The Democrats tend to focus on class warfare, something that doesn’t play well when the lower and middle classes are seeing boons with jobs and income.

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