President Donald Trump hosted a White House event last Tuesday where he revealed a rosy future for American businesses and the nation’s economy in general. Attended by 100 small business owners from all over the country, the President praised those in attendance for their roles in powering up the nation’s economic recovery and also reiterated his administration’s commitment to their success.
“You are the dreamers and innovators who are powering us into the future — that’s exactly what you are — and my administration will be there with you every single step of the way,” Trump told his audience during the event.
— Donald J. Trump (@realDonaldTrump) August 2, 2017
President Trump also highlighted his administration’s efforts in loosening up certain business regulations that hurt America’s economic performance. This includes some reforms in the energy sector, which some analysts predicted could result in a ten percent growth in the industry, according to a CNBC report
“We’re ending job-killing legislation. We’re eliminating the massive restrictions on American energy.”
The President likewise stressed the improving unemployment situation in the nation. Data from the Bureau of Labor Statistics reveal that the unemployment rate for June 2017 is only 4.4 percent, the lowest in 16 years.
Trump also touted the economic improvement under his administration as measured by GDP. Recently released first quarter figures show a rise of 2.6 percent, beating previous estimates.
— CBS News (@CBSNews) August 1, 2017
But Trump believes that the U.S. economy can do more and expressed optimism that his previous promise of a 3 percent GDP growth is within reach. “Remember I was saying, ‘We’re going try and hit 3% sometime over the next period of two years’?” Trump told the small business owners during the event. “But don’t worry about the 3, we’re going to go higher than 3 in the not-too-distant future.”
Accompanying Trump in the event was his daughter Ivanka as well as Small Business Administration’s (SBA) Linda McMahon. The two led a discussion during the Q&A portion, offering business advice to some of the guests.[Featured Image by Gage Skidmore/Flickr]