US Economic Growth in the 2nd Quarter Gets Revised Higher, Remains Strongest Since 2014

“The US economy in the second quarter grew even faster than initially estimated, according to a Commerce Department report released Wednesday,” Akin Oyedele reports for Business Insider.

“Gross domestic product, the value of every good and service produced domestically, rose at an annual rate of 4.2%, the Commerce Department said, its fastest growth since the third quarter of 2014 . . . The April-to-June period was the first full quarter with the tax cuts signed by President Donald Trump in effect,” Oyedele explains.

Click here to read more.

“The vast majority of U.S. blue-collar workers say their lives are headed ‘in the right direction,’ according to the results of a poll released this week,” Katelyn Caralle reports in the Washington Examiner. “Eighty-five percent of these workers in America are optimistic regarding the direction of their lives, and 86 percent are satisfied with their jobs.” A majority also expressed optimism about the overall direction of the country, the survey showed.

The Associated Press reports that President Trump is awarding $91 million in grants to a record number of community anti-drug coalitions. “The White House says all 50 states will benefit from the grants from the White House Office of National Drug Control Policy that aim to ‘strengthen the infrastructure among local partners to create and sustain a reduction in local youth substance abuse.’”

The Investor’s Business Daily Editorial Board writes that household income has soared to all-time highs under President Trump. “Median household income is up more than 4%, the economy is growing fast, optimism is at decades long highs . . . Over the course of President Obama's entire eight years in office, median household income climbed a mere 0.3%.”

In The Wall Street Journal, Lauren Weber reports that American workers have the highest job satisfaction since 2005. “Just more than half of U.S. workers—51%—said they were satisfied with their jobs in 2017, the highest level since 2005, according to a new report from The Conference Board,” she writes.