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Is Small Business Optimism High due to the Trump Administration’s inability to pass legislation?

According to the Wells Fargo/Gallup Small Business Index, for the third quarter of 2017, business optimism rose to +106, “up 11 points since Quarter 2 and the highest since +113 measured in the second quarter of 2007.”  After reading this, I couldn’t help but think of my conversation last week with a business owner discussing the future of America under a Trump Administration.  To put it simply, we were both held a positive business view for our nation, but funny enough, it was for vastly different reasons.  Take Healthcare as an example, while he thought Obamacare would go away with more power in the hands of the consumers, I figured Trump would connect with Democrats at some point to create his “healthcare for everyone” promise he made during his Presidential run.

And there-in lies, in my opinion, the high optimism for the future of the economy.  Trump was masterful in promising solutions even if they conflicted in terms of fundamental principles.  In addition, because he hasn’t actually passed anything, everyone can still believe that, in the end, Trump will “do the right thing” and support their ideals.  In an interesting reality, the longer Trump goes without passing legislation, the better in terms of people’s opinion of the future of America, in particular business.

Everyone thinks Trump falls into their view and will eventually support their vision of America, but there are enough conflicting ideas that, once something is passed, opinion will readjust and optimism will decrease.  But for now, with nothing passed, everyone (including myself) can continue to believe that he will eventually come to reason and support their vision of America.

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