Small business optimism surged to its highest level ever on a national poll in August under President Donald Trump days after former President Barack Obama took credit for the current success of the economy.
The results come from the tax cuts put in place by Trump and Republicans in Congress, which have helped the economy grow with more sales, more job hirings and more investments, according to a survey by the National Federation of Independent Business (NFIB). The Optimism Index hit its highest level ever in August since NFIB conducted its first survey, hitting 108.8, beating the previous record under former President Ronald Reagan of 108, according to CNBC.
The results come days after Obama took a shot at Trump during a speech at the University of Illinois on Friday — claiming the economy was doing so well because of the work he did as president — with no mention of Trump and the GOP’s historic tax cuts. (RELATED: Obama Has Been Claiming Credit For Trump’s Economy — Trump Marches Out Economist, With Receipts)
“When you hear how great the economy is doing right now, let’s just remember when this recovery started,” Obama said. “I’m glad it’s continued, but when you hear about this economic miracle that’s been going on, when the job numbers come out, monthly job numbers, suddenly Republicans are saying ‘It’s a miracle.’ I have to remind them — actually, those job numbers are the same as they were in 2015 and 2016.”
While the NFIB’s numbers were already at 107.9 at the end of July, the August numbers show a historic uptick in optimism.
“Today’s groundbreaking numbers are demonstrative of what I’m hearing everyday from small business owners — that business is booming,” NFIB President and CEO Juanita D. Duggan said in a press release Tuesday. “As the tax and regulatory landscape changed, so did small business expectations and plans.”
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