I must reiterate a point from my G20 interview with Treasury Secretary Scott Bessent: the most significant yet underreported development is an economic boom sweeping across every sector of the national landscape.
Mr. Bessent elaborated on this growth-oriented perspective by explaining, “As you noted, the president’s policies have established the foundation for this economy. We now have regulatory certainty, as the administration was tasked with reducing the regulatory burden, which remains central to our current discussions.”
This regulatory progress is a crucial pillar of the economic boom. It encompasses the “drill, baby, drill” initiative, which has propelled oil production to nearly 14 million barrels per day—an extraordinary figure. Additionally, record-breaking exports of natural gas and liquefied natural gas have cemented America as the world’s energy capital, driven by Trump-era policies.
A pivotal element of this expansion is the AI boom and the concurrent surge in data center construction. Much like the factories of a bygone era, these facilities are generating substantial manufacturing job opportunities for skilled workers such as carpenters, welders, electricians, and plumbers. Contrary to pessimistic forecasts, these data centers generate their own electricity and water, contribute significantly in taxes, and even enable localities to reduce property taxes. Furthermore, the administration’s policies include tax-free tips, tax-free overtime, and approximately $300 billion in individual refunds distributed during the most recent tax season.
Recent data underscores this momentum: nonfinancial corporate productivity has surged to an annualized rate of 3.1 percent over the past two years, an unprecedented achievement unmatched since the 1990s. Moreover, the Institute for Supply Management’s manufacturing indexes have risen for eight consecutive months, while service sector indexes have increased for 15 straight months.
An undeniable boom is underway, echoing the message that Secretary Bessent has consistently conveyed. It is a narrative that demands greater attention from the press.
