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While other political issues are embroiled in controversy — immigration, trade, and foreign policy, to name a few — the United States' economy seems to be in good shape, causing President Trump to often tout positive economic indicators:

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.

The big picture: Unemployment is dropping, applications for disability benefits are plunging, and millennials are finally moving out on their own. But with the threat of a trade war on the horizon and signs that the economy may be soon slowing, there are worries about how long the boom can last.

The good, per CNBC:
  • Millennials are moving out: Millennials, the largest generation in the labor force, are leaving the nest and increasingly heading out on their own,
  • Disability applications are plunging: Fewer than 1.5 million Americans applied for disability benefits in 2017, "the lowest since 2002." Trump touted this statistic in a Saturday morning tweet.
  • Unemployment is dropping: Last week, the number of people filing for unemployment benefits was at 218,000, below the expected 220,000.
  • Homebuilding surged: U.S. homebuilding hit its highest level in May since July 2007.
  • Consumers are optimistic: Consumer sentiment hit its highest level in three months. University of Michigan's chief economist Richard Curtin told CNBS: "Greater certainty about future income and job prospects have become the main drivers of more favorable purchase plans."
Yes, but:
  • The threat of a trade war between the U.S. and its allies is concerning and some economists fear that prolonged economic retaliation could weaken crucial American alliances.
  • The Leading Economic Index fell short of expectations in May, after increasing only .2% instead of .4%. Ataman Ozyildirim, director of business cycles and growth research at The Conference Board, told CNBC: "The U.S. LEI still points to solid growth but the current trend, which is moderating, indicates that economic activity is not likely to accelerate."
  • While homebuilding surged as mentioned above, there was a drop in homebuilding permits for the second month, which "suggested housing market activity will remain moderate."

Go deeper

Felix Salmon, author of Capital
5 mins ago - Economy & Business

How anti-greed backlash killed the European Super League

Photo: David Cliff/Anadolu Agency via Getty Images

The 48-hour rise and fall of the European Super League is the perfect encapsulation of how anti-greed sentiment has changed the rules of capitalism.

Why it matters: The highly-complex structures of capitalism are built from the mostly base motivations of individuals chasing money. That's been condemned and celebrated in equal measure — but has also largely been accepted.

33 mins ago - Politics & Policy

Senate Republicans unveil $568 billion infrastructure counterproposal

Sens. John Barasso and Shelley Moore Capito. Photo: Caroline Brehman/CQ Roll Call/Bloomberg via Getty Images

Senate Republicans formally rolled out the framework for their $568 billion counterproposal to President Biden's $2.5 trillion infrastructure plan on Thursday.

Why it matters: The package is far narrower than anything congressional Democrats or the White House would agree to, but it serves as a marker for what Republicans want out of a potential bipartisan deal.

House passes bill that would make D.C. the 51st state

House Speaker Nancy Pelosi and Washington, D.C. Mayor Muriel Bowser. Photo: Alex Wong/Getty Images

The House of Representatives voted 216-208 on Thursday to pass a bill that would grant statehood to Washington, D.C.

The big picture: It's the second year in a row that the Democratic-controlled House has voted to recognize D.C. as the 51st state. The bill now heads to a divided Senate, where it faces little chance of reaching the 60 votes necessary to send to President Biden's desk.