atta boy for Trump

An excerpt from a Newsmax article:

 

Median household income reportedly has soared more than 4 percent since President Donald Trump took office amid overall brisk economic growth and robust optimism.

Inflation-adjusted median household incomes in July hit $62,450, Investor’s Business Daily reported, citing the latest release from Sentier Research.

“That's the highest level since Sentier started tracking this more than 18 years ago. And if you combine Sentier's numbers with annual Census data, median household income is at all-time highs,” IBD reported.

“More interesting is the fact that median household income has shot up more than 4% in the 19 months since Trump took office. It had been flat over the previous year and a half. Over the course of President Obama's entire eight years in office, median household income climbed a mere 0.3%, Sentier data show,” IBD reported.

To be sure, U.S. economic growth was a bit stronger than initially thought in the second quarter, notching its best performance in nearly four years, as businesses boosted spending on software and imports declined, Reuters reported.

Gross domestic product increased at a 4.2 percent annualized rate, the Commerce Department said on Wednesday in its second estimate of GDP growth for the April-June quarter. That was slightly up from the 4.1 percent pace of expansion it reported in July and was the fastest rate since the third quarter of 2014.

Businesses spent more on software than previously estimated in the second quarter and the nation also imported less petroleum. Stronger business spending and a smaller import bill offset a small downward revision to consumer spending.

Meanwhile, Americans' consumer confidence rose in August to the highest level in nearly 18 years as their assessment of current conditions improved further and their expectations about the future rebounded, the Associated Press reported.

The Conference Board reported Tuesday that its consumer confidence index rose to 133.4 in August, up from a reading 127.9 in July. It was the highest reading since confidence stood at 135.8 in October 2000.