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Some people think that the economy is a political problem only when it is bad and that prosperous times allow people to give themselves the luxury of giving priority to other problems. This is not the message of the latest survey of Wall Street Journal and NBC News.
Professional economists agree that the Commerce Department's GDP report for the third quarter on Friday will signal another period of strong growth in the US economy after a sharp rise in the second quarter. Voters do not seem to take it for granted. Respondents to the WSJ / NBC survey see "the economy and employment" as the most important factor in deciding on their vote in this year's US congressional elections. Since June, this issue has gone beyond health care as the primary concern of survey participants.
Could this mean that despite all recent positive economic data, survey respondents actually think that the economy is ugly? This is unlikely because voters give a high score to the party that is currently in charge of the country's economic policy. The survey participants say that Republicans "would do a better job" than Democrats with a 15-point margin. This seems to be the biggest Republican advantage recorded by this survey, which has been asking the question since at least 1991.
This does not mean that voters particularly like the country's main economic decision-maker. In fact, 68% of those surveyed say they do not like President Trump. But Mr Trump seems to set a modern record in the electorate's share by saying that they do not like the president personally, but approve most of his policies. This category of voters currently accounts for 20% of the electorate. For most recent presidents, these readings were generally less than or equal to 10%, although Bill Clinton's share climbed into adolescence.
The newspaper reports that poll results show that President Trump's overall approval is increasing, as is the enthusiasm of those in his party:
The Republicans' increased interest in the elections goes hand in hand with Mr. Trump's approval rate increasing to 47%, the highest score of his term, with 49% disapproving of his performance. This is an improvement over September, when 44% of respondents had approved and 52% disapproved of its performance.
If a significant number of Americans give the President what may be called their approval reluctantly, you can not say that he is not working hard to win it. This is not a reference to his tweeting but to the results of two of his flagship initiatives in economic policy.
This column has written extensively on the encouraging rise in business investment following the adoption of its tax cuts in December. The Trump administration has recently tabled a progress report on the other pillar of its program for growth, namely the reduction of federal regulation. This is affectionately called swamp drainage for those outside of the D.C. metropolitan area.
It seems that Team Trump exceeds its own expectations. At one point, the administration's goal was to reduce regulatory costs by approximately $ 10 billion in fiscal 2018, which ended on September 30. The White House's Office of Information and Regulatory Affairs announced the removal of $ 23 billion of "overall regulatory costs". during the past financial year.
During his 2016 campaign, Mr. Trump seems to have under-promised to promise to remove two federal rules for each new promulgated under his leadership. Or maybe he is delivering too much now. Whatever the case may be, the Regulatory Affairs Office reports on the results for 2018:
The agencies took 176 deregulation measures and 14 important regulatory measures. 57 deregulation actions were significant. Comparing significant deregulation measures with important regulatory measures yields a ratio of 4 to 1.
And the White House has announced that there is still good news ahead:
During the 2019 fiscal year, agencies plan to save $ 18 billion in regulatory costs through final rules. This does not include one of the most important deregulation rules planned for fiscal year 2019: "The Safer and More Economical Energy Saving Vehicles (SAFE) Rule for the 2021-2026 Model Years" , passenger cars and light trucks', that the proposed regulation will save between $ 120 and $ 340 billion in regulatory costs.
Voters have obviously noticed what a raging economy in the United States looks like, suggesting that Republicans have the opportunity to avoid the classic scandal of mid-term corruption in the presidential party.
Health care is one of the main problems that keep Democrats in the WSJ / NBC survey, as in so many other surveys. If Republicans follow Mr. Trump's direction and oppose Bernie Sanders-backed by most Democrats in the House-to the GOP's plans to expand consumer choice, Republicans will be able to shed their story midterm.
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In other news
The longest books ever written
"How Government Policies and Taxpayers' Money Helped Elon Musk and Tesla", CNBC, October 22
We blame George W. Bush
"Airlines are facing rising fuel costs. Blame Cruise Ships, "The Wall Street Journal, October 22.
Say law on the weed
"Canada is running out of marijuana two days after the drug became legal," The Independent, October 20.
Largest delivery ever
"A teenager drives seven hours back and forth to deliver pizza to a dying person," CBS News, October 19.
Ok, at least the second largest
"The best beer ever produced", Pabst Brewing Company, November 10, 2015
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(Teresa Vozzo helps compile the best of the Web, thanks to Robert Lamoureux, Eric Pease, Jack Blanton and Tony Lima.)
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Freeman is the co-author of Borrowed Time, available from HarperBusiness.
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