Trump Economy Booms, Small Business Optimism Back To Pre-COVID Levels

VIDEO — Trump Fights Back in Fiery CPAC Speech

( President Donald Trump’s low-tax economy boomed big before COVID-19, and even during the midst of a pandemic, appears to be regaining strength. A new report from the National Federation of Independent Business shows that optimism among owners of small businesses has climbed to pre-COVID levels in September.

According to the organization, the optimism index increased by 3.8 points, reaching 104. That’s the same level as last January and is one of the highest readings to ever be recorded.

It comes as a new survey from Gallup also shows that 56% of Americans feel that they are better off now than they were four years ago during the Obama/Biden administration. It’s not only a shocking revelation given that the country is in the middle of a pandemic, but it is also the highest number recorded during an incumbent president’s re-election campaign.

Economists expected that the index would hold steady to the 100.2 reading from last month, with estimates ranging between 99 and 101.

The likely reason behind the increase in optimism is the fact that many states are now allowing businesses to reopen. Despite many Democrat-run states reimposing strict lockdown rules, including New York, other states are allowing businesses to reopen as the colder months come in. That means restaurants can begin serving food indoors with restricted capacities, and bars can begin to reopen in many states too.

However, the very real threat of leaders imposing new lockdowns is hanging over businesses throughout the country. The NFIB also has an uncertainty index, which climbed to a higher level than when infections hit their height in the summer. It suggests that while businesses feel good about their prospects right now, they also fear the huge impact of fresh lockdowns.

Chief economist at the NFIB, Bill Dunkelberg, told the press that businesses are seeing improvements in sales and foot traffic.

“However, some small businesses are still struggling financially to operate at full capacity while navigating state and local regulations and are uncertain about what will happen in the future,” he said.

If no new lockdowns are imposed, it’s good news for the rebuilding of the American economy.