According to a newly released poll, voters’ perception of the U.S. economy has reached a record high.
A Quinnipiac University survey released Wednesday shows 66 percent of respondents, two-thirds of all voters polled, said they would characterize the U.S. economy as “excellent” or “good.”
Quinnipiac noted the significance of this number, stating that this is “the highest positive rating for the economy” ever recorded since the university began asking the question in 2001.
Only 33 percent view the U.S. economy as “not so good” or “poor.”
There is a divide, however, on who exactly gets the credit for the positive economic outlook.
Just below half — 49 percent — of respondents give more credit to former President Barack Obama, whereas 40 percent pointed to President Donald Trump for the robust economy.
“President Trump can hang his hat on the economy, but must share the hat rack with President Barack Obama, as two-thirds of the country see the economic picture as excellent or good,” said Tim Malloy, the Quinnipiac University Poll’s assistant director.
Conducted Jan. 5-9 via landlines and cellphones, the survey includes the responses of 1,106 voters across the country, with a margin of error of 3.6 percentage points.
The poll also included positive responses for voters’ personal financial standing.
Seventy-three percent, a large majority of voters, stated they would describe their own current financial standing as “excellent” or “good,” while only 26 percent said it was “not so good” or “poor.”
There is good reason for voters to have such a confident outlook on the economy.
Americans have been inundated with great economic news, with Trump using his enormous social media following to remind them of what’s taking place.
For the first time in its 121-year history, the Dow Jones Industrial Average surpassed the 25,000 point mark earlier this month.
This wasn’t even the first time the Dow had broken a record under the Republican president’s tenure.
The stock market run started the day after Trump was elected in November 2016, when the Dow climbed 250 points to hit a record high of 18,589. Throughout 2017, the Dow broke through the 19,000, 20,000, 21,000, 22,000, 23,000, 24,000 marks for the first time in its history, representing a 36 percent rise in value, or over $5.5 trillion.
“The U.S. economy is very healthy, especially compared with the slow recovery from the Great Recession. Unemployment hasn’t been this low in 17 years. Economic growth is the best in three years. Equally important, most major world economies are growing at the same time for the first time in several years,” CNN Money reported earlier this month.
Coverage of the stock market gains have almost been eclipsed by the wave of reports regarding employee raises and bonuses because of the GOP-led tax reform bill.
Immediately following passage of GOP-led tax reform in the House and Senate — which includes the most comprehensive overhaul of the U.S. tax system since the Reagan administration — major American-based companies began to announce wage raises, bonuses and added investments.
AT&T, Bank of America, Comcast, Southwest Airlines, American Airlines and many other large corporations announced bonuses for their workers because of the tax cut. Wells Fargo and Fifth Third Bank declared they would raise their hourly wage to $15 an hour.
On Thursday, Walmart announced it was raising its minimum wage to $11 an hour and handing out bonuses of up to $1,000, according to USA Today.
“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” Walmart CEO Doug McMillon said in a statement. “It’s our people who make the difference and we appreciate how they work hard to make every day easier for busy families.”
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