(TargetLiberty.org) – Elections have consequences, and with the presidential election swiftly approaching, economic indicators impacting small business owners appear to be favoring Donald Trump.
Current gross domestic product (GDP) data serves as a shining example of President Trump’s economic policy success. A country’s GDP measures its total market value regarding goods and services.
So what does this figure mean in terms of small businesses? As it turns out, quite a lot. The latest statistics released by the US Small Business Administration show small businesses account for about 66% of new jobs, 44% of the nation’s economic activity, and 43.5% of the annual GDP.
The US Bureau of Economic Analysis (BEA), a Department of Commerce watchdog agency, released its third-quarter GDP advance estimate on October 29, and the numbers are incredible.
— BEA News (@BEA_News) October 29, 2020
The report shows a historic increase in total GDP of 33.1%, the largest figure on record. Perhaps most significant is the fact that the Trump administration was able to sustain this growth level during the global COVID-19 pandemic. This GDP increase reflects the success of President Trump’s efforts to re-open the nation’s businesses and provide for a swift return to normal economic activities.
An Expert Weighs In
Alfredo Ortiz, the president of the non-partisan Job Creators Network, weighed in on the BEA’s report and its relation to the upcoming presidential election. According to Ortiz, the GDP advance estimate is a clear indicator that President Trump is the best person to get the nation’s economy up and running as swiftly as possible.
Ortiz pointed out the small business economy was soaring in the months leading up to the COVID-19 pandemic. Median incomes entered a sustained period of growth, and new businesses entering the market thrived. Ortiz attributes this success to President Trump’s solid economic policies.
In the wake of the coronavirus pandemic and resulting economic fallout, Trump’s decisive leadership fostered a massive V-shaped economic recovery. The success of the president’s efforts to re-open the nation’s economy indicates small business owners have a clear choice when they head to the voting stations on November 3.
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