Post Top Ad

Your Ad Spot

Monday, July 16, 2018

The Effects of President Trump’s Economic Success On Kentucky

By: Davis Zimmerman  Follow Davis on Twitter:

Whether you are a fan of President Trump or not, it’s undeniable that our current economy has been the best America has ever seen. With the lowest unemployment rate in 20 years, 3 million jobs added since his election, and a 5,000-point skyrocket in the stock market, there has been a huge economic growth for America. But how have his astonishing feats affected the average Kentuckian?

Obama’s Clean Power Plan (CPP) crippled Kentucky’s jobs and revenue. Due to looming threats leading to the CPP becoming law, Yahoo Finance reported that, “22% of the state’s jobs in the industry (were) disappearing."

Trumps repeal on the Clean Power Plan has, “saved over 25,000 jobs” according to Robert Murray, in an interview after an event in Kentucky led by former administrator of the EPA, Scott Pruitt. Though many say coal is energy of the past, with rollbacks on regulations due to Trumps legislation, coal is here to stay. With the increasing number of workers in the coal force, Kentucky has reinstated its dominance in the world of producing energy, once again.
Since President Trump’s inauguration, the unemployment rate has dropped 1.2% in Kentucky. As of January 2017, the Kentucky unemployment rate sat at 5.2%, which was higher than the national average. As of March 2018, the Kentucky unemployment rate stands at 4%, which is right in line with the national average. Part of unemployment rate decreasing is jobs being added. In 2017, over 17,200 jobs were created in Kentucky due to its “ business-minded approach (which) is shifting Kentucky’s fortunes.” as stated by Terry Gill, Cabinet for Economic Development secretary. 17,200 jobs added is the most Kentucky has seen in over 20 years! 

As we all know, President Trump fancies himself as a businessman with a net worth of over 3 billion dollars, but Kentucky shifting to a business minded approach racked in over 9.2 BILLION dollars in corporate expansion and new-location projects. You may be wondering what exact role Trump played in causing 9.2 billion dollars to be floating around Kentucky and in the creation of 17,200 jobs. The coattail effect is when a member of a certain political affiliation wins a high office; members of the same affiliation tend to win lower offices. Now at this point, two things can happen. One of those being that of the elections in that same year, many will be won by people of similar ideals to Trump. Another possibility is that current office holders will try to align their views with Trumps to win favoritism in order to receive more grants to help benefit their state. Because Kentucky aligned their ideals with the Presidents we unknowingly had a great impact on our economy. So Trump’s role was creating an indirect reaction that led to our recent booming economy. It may seem like a stretch but it has happened in every presidency. Take the Obama administration for example; under Obama, the state of New York experienced great economic growth. The unemployment rate dropped from 10% to 5%! And when Jerry Brown (California, Gov. D.) aligned with Obama ideals, California heavily thrived from it.
We cannot change that Donald Trump is our president, but we can evaluate how he has done and what he has done to make our lives better. And so far, we have to give him around of applause for the fact that he has had the lowest unemployment rate in years, added three million jobs, repealed regulations allowing Kentuckians to get back to work, and spurred exponential growth in the stock market. As a Kentuckian, I am happy of the work Trump has done and grateful for the affects President Trump economic success has had on me- I hope you are too.