In recent days, President Obama boasted that he could have beaten Donald J. Trump were the president constitutionally permitted to run for a third term. Of course, there is no way of knowing that, and Obama, petulant and arrogant as always, is well aware of that.
But the president might want to reconsider his claim, given what we’ve seen in terms of consumer confidence since Trump beat two-time loser Hillary Clinton Nov. 8. It’s now the highest it has been in 15 years, and that’s not because of anything Obama has done.
As reported by Fox News:
American consumers are the sunniest they’ve been in more than 15 years.
The Conference Board said Tuesday that its consumer confidence index climbed to 113.7 in December, up from 109.4 in November and the highest since it reached 114 in August 2001.
The index measures consumers’ assessment of current conditions, which dipped from November but was still very positive, and their expectations for the future, which hit a high.
Director of economic indicators at the Conference Board Lynn Franco said the “post-election surge in optimism” was strongest among Americans who were older.
Since no one currently in the White House would do so, Trump took to Twitter to thank himself for the surge. And while that may seem arrogant in and of itself, other economy watchers are also singing Trump’s praise.
“The election of Donald Trump has raised household expectations for the economy to a very high level,” Stephen Stanley, chief economist at Amherst Pierpont Securities, wrote in a research note. “It remains to be seen whether Trump can deliver,” but the burst in confidence could drive consumer spending higher.