Trump Policies Working, Median Household Income Rises to $63,179, Poverty Rate Falls

Trump Policies Working, Median Household Income Rises to $63,179, Poverty Rate Falls

The Census bureau said on Tuesday that the median US household income was $63,179 in 2018, up from the $62,626 registered in Y 2017.

The data reflect a year in which U economic growth was boosted by Trump’s tax overhaul and a rise in government spending.

The unemployment rate fell to 3.9% by the end of Y 2018 from 4.1% a year earlier and has since declined further in what is now the longest US economic expansion in history.

The Trump Administration’s tax changes, passed into law in late Y 2017, reduced tax rates for most Americans.

About 27.5-M US residents, or 8.5% of people, did not have health insurance in Y 2018, up from 25.6-M, or 7.9%, during the prior year. It is the 1st Y-Y increase in the percentage of uninsured people since Ys 2008-2009, Census said.

The Trump Administration has taken a series of measures, including sharply cutting funding previously provided to groups that help people get health insurance under the Affordable Care Act (ACA), aka Barack Obamacare, that have weakened the law’s benefits and protections.

Polling shows that healthcare is a Top concern for America’s voters leading up to the 2020 election.

Making and Keeping America Great!

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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