US Economy 6-1-25

The closest thing to normalcy we’ve seen in the US economy occurred in 2018 and 2019. Trump lowered taxes in 2017, increased oil and natural gas production, removed unnecessary federal regulations so businesses could expand jobs.

In 2018, the U.S. nominal GDP was $20.6565 trillion. In 2019, the U.S. nominal GDP was $21.540 trillion

In 2018, U.S. federal spending totaled $4.1 trillion, with the budget deficit reaching $779 billion. In 2019, the federal budget saw total expenditures at $4.4 trillion, resulting in a deficit of $984 billion. 

In 2018, the US government paid $357 billion in interest on the debt held by the public. This amount increased to $404 billion in 2019. 

In 2018, the median household income in the United States was $63,179, and in 2019, it was $68,703, an increase of 6.8%. This represents the highest median household income recorded in the US at that point. 

In 2018, the US unemployment rate was 3.9%, and in 2019, it fell to 3.7%. These rates were at historically low levels. The labor market continued to improve in both years, with unemployment rates decreasing for most demographic groups. 

In 2018, the US inflation rate, as measured by the Consumer Price Index (CPI), was 2.4%. In 2019, the inflation rate decreased to 1.8%. 

In 2018, the national average gasoline price was $2.72 per gallon. In 2019, the average price was slightly lower, at $2.60 per gallon. This represents a decrease of 11 cents per gallon, or 4%, compared to 2018. 

In 2018, the average transaction price for a used car in the U.S. was $20,079. In 2019, this price rose to $20,618. This represents an increase of $538 year-over-year, according to an Edmunds report.

In 2018, the average price of a dozen eggs in the US was around $1.74, and in 2019, it was roughly $1.40.

The US had offshored manufacturing from 1990 to 2016 and the economy was still growing.

The US border was secure. Trump issued sanctions and there were no wars.

In 2021, Biden opened the border to 20 million unvetted illegals, squandered tax dollars on Climate Change and EV subsidies and restricted US oil and natural gas production. Cumulative Global Inflation soared by 30%. Biden lifted all sanctions and war broke out in Ukraine and Israel. Biden botched the Afghan withdrawal.

Biden’s government overspending produced an increase in the US National Debt . The US national debt rose significantly between 2021 and 2024, increasing from $28.43 trillion in 2021 to $35.46 trillion in 2024.

In 2025, Trump returned to fix the mess and put the US on the path to prosperity and peace. 

Norb Leahy, Dunwoody GA Tea Party Leader