President Trump and polarization go hand in hand these days. While President Obama’s administration was mauled in divisiveness, the Trump administration is fairing much worse. That is why it comes as no surprise that small businesses are divided between party lines when considering the early effectiveness of President Trump. According to Forbes “among respondents who voted for Trump, 84 percent believe the economy will be better or significantly better at the end of his first term, while only 11 percent of respondents that didn’t vote for Trump believe the economy will improve in four years.”
The great divide continues in relation to regulation, healthcare, and the record highs of financial markets with pro-Trump supporters giving him much of the credit, while anti-Trumpers not so convinced.
The truth as it pertains to the increase in markets and the future of America is that much of today’s market gains and expectations are speculative. No one knows what a Trump administration means, but many are hopeful that his pro-business background will mean less regulation, taxes, and opportunities for profit gains. While it remains to be seen, the current Trump government is still figuring it out how to govern and in turn how to be a pro-business government.
For now, despite the party lines, neither side is right about whether Donald Trump is good for business, we just don’t have enough information. And the financial market usually grows after a President due to the certainty it provides. The markets react to government legislation generally 6 months into a new Presidency however.
In the end President Trump is a new POTUS so we will know how he fares with the experience he gains.
Now, about that Russia issue….