The Trump economy has been a source of much speculation ever since President Donald Trump took office in January 20, 2017. Presently, President Trump has been calling the US economy under him as best economy ever.

A number of people believe that there is a sound background behind this claim. In June, there were 224,000 jobs more in the United States. This is the highest figure for the year and has come as a surprise to a number of economists following the dismal performance in May. Similarly, the nation’s economic expansion stays very much on track, in spite of the global slowdown and economic uncertainty. In the field of manufacturing, the gains are strongest as they have been for past five months.

US President Donald Trump

President Trump has been proactive in highlighting the achievements of his government and had recently tweeted “JOBS, JOBS, JOBS!”. Economists also believe that going by the latest figures, the risk of a recession have been put to rest. But it nevertheless stands true that a number of other relevant details present a gloomier outlook of the US economy.

At present, the economy cannot be defined of the kind that once used to work for more Americans. While the growth of earnings has slowed down, the numbers of prime aged workers who are employed is dropping as well. The underlying cause of the same is that in order to get workers, employers are not required to boost the wages.

The overall scenario has bought a number of Americans to wonder where the boom is. The present scenario may best be described as a two tier growth. Even while 60% of Americans have benefited, 40% of them have come across a wage growth that is marginal or not stable. They have also have had to deal with rising costs of education, healthcare and housing, along with higher levels of personal debt.

As per Rick Newman from Yahoo Finance, while trump had inherited a recovery from Obama, the economy has actually slowed down since Obama’s presidency.

It was in 2014 that the employment growth rate peaked in the US. The numbers of jobs created per month stood in the line of 251,000. For the year, the average has been at 172,000.

Wall Street Journal has recently expressed in an editorial that economic evidence and job news, as presented by the Democrats are fake news. The reality is that for workers with lower skills, the rise in wages is the fastest it has been for a decade. Similarly, rates of unemployment for minorities and Americans who are lesser educated are at a record low.

There are nevertheless some areas of distraught and some grey areas in Trump economy and it is not for everyone that the things have changed for better. If take the case of truck drivers, they earned less in 2018 than they did in 2009. This is in spite of the fact that executive compensation is higher now than it used to be a decade back.

A few of the economic experts also have an opinion that the government should have made better of this phase which is booming in terms of economic growth. The experts believe that the government should have invested in highways, satellite networks, public universities and scientific research.

Instead, as per the New York Times, the government used the phrase for granting tax cuts for companies. The companies have in turn used the additional revenue to pay out their profits to the investors.

It is also just a small minority of American population that has reaped the maximum benefits of the government’s economic policy, The New York Times believes.

2020 elections will be a close call for the Democrats, for the reasons including that a number of Americans see Donald Trump’s economy in a positive light. Economic expansion is now in its 121^st month, and this is a record high. Unemployment rates are lower now, than they have been since half a century.

It is not just about a high opinion of the US economy with regards to the present times. A number of Americans also believe that it is Donald Trump who is behind this radical transformation.

As per an election forecasting model which is run by Ray Fair, an economist from the Yale University, a near landslide victory for Donald Trump’s Republican Party is on the cards.

Being sure about this forecast is risky, and a number of industry experts have the opinion that 2020 elections are winnable for Democrats. They would nevertheless inherit a robust economy as put in place by the Republicans.

At present date, the American economy generates jobs on a monthly basis. Even while the wage growth is not outstanding, it is the real wages that are on a rise.

It is not as though the gains are entirely to the people who are towards the top. For the people who are at the lowermost strata of a generic salary distribution, the wages are rising fast. If there are a significantly large number of people who believe that the US economy is doing well at this point of time, the numbers are only going to increase if the expansion continues right up to November.

President Trump at a mega rally in Las Vegas

If we take historical data into perspective, we come to realize that even a high performing economy is no guarantee for success in elections if a party is incumbent. Let us consider the 2000 elections. Al Gore, who was also Bill Clinton’s vice president was unable the guide the party to victory over George. W. Bush, in spite of the economic boom that took place in 1990s.

Prior to elections, Bush gave little credit to Gore and Clinton for the economic growth and credited it to the spirit of American people, in terms of entrepreneurship, hard work and ingenuity.

George. W. Bush would go on to be the president of America. He emphasized the areas wherein the focus of economy should lie, such as reforms in education, medical care and social security. Bush also emphasized that the economy must have more of an impact towards the betterment of every single individual.

It is such counter strategies that would work nicely when applied by the Democrats this time over.