Washington, DC (October 26, 2018) – The Job Creators Network today cheered another strong quarter of economic growth and said the administration’s pro-growth policies are largely responsible.
“Small businesses are heading into the holiday season with a strong wind in their sails,” said Alfredo Ortiz, JCN President and CEO. “This is another great performance for the economy and a credit to the administration for cutting taxes and regulations so that small businesses can hire, invest and grow.”
The economy grew by 3.5 percent in the 3rd Quarter, slightly higher than analysts expected and roughly double the average rate of growth under the previous administration. The historic tax cuts and deregulation are major factors, said Ortiz.
“We haven’t seen this kind of sustained economic strength in a long time, and that’s because Washington is getting out of the way,” he said. “The tax cuts are fueling higher wages and more business investment, and the deregulation allows small businesses to focus their resources on growth instead of compliance.”
Ortiz cautioned against misreading the recent volatility in the stock markets as a sign of economic weakness.
“It’s natural for people to fixate on the gyrations in the stock markets, but people should remember that we’re talking about a very small percentage of American companies. 99.9 percent of all businesses are small businesses, and they are doing great in this economy,” he said. “In fact, the biggest problem on Main Street is that there aren’t enough workers to meet demand. That results in higher wages, which leads to more consumer activity, which means an expanding economy.”