According to a new poll from Wells Fargo and Gallup, small business owner optimism has hit a record high—jumping from 106 in the second quarter of 2018 to 118 in the third quarter. The index passed the previous high of 114—which was hit in 2006.
The uptick in small business optimism follows the announcement of the second quarter GDP growth rate that hit 4.1 percent—a growth rate that has the country’s economy on track to expand at 3 percent over the course of 2018.
This skyrocketing growth rate and business optimism level is proof that the economic policies currently being pursued in Washington are working. The Tax Cuts and Jobs Act is essentially transferring $1.5 trillion from the hands of government bureaucrats to individuals and Main Street small businesses that are able to more effectively use the resources. Moreover, reduced regulations are freeing up the hands of businesses to do what they do best: create jobs.
Federal public policy is on the right track. Fingers crossed that more of the same is headed our way.