By Alan Murray and David Meyer
January 31, 2018

Good morning.

We’ll bypass the political punditry and partisan applause this morning, and just report the key economic highlights from the president’s 90-minute State of the Union speech.

“Since the election we have created 2.4 million new jobs, including 200,000 new jobs in manufacturing alone. After years and years of wage stagnation, we are finally seeing rising wages. Unemployment claims have hit a 45-year low. And the African American unemployment rate stands at the lowest level ever recorded. And Hispanic American unemployment also has reached the lowest levels in history. Small business confidence is at an all-time high.”

“Since we passed tax cuts, roughly 3 million workers have already gotten tax cut bonuses—many of them thousands of dollars per worker.” Note: the fact checkers have confirmed this one, and it appears to be unprecedented in the history of tax cuts.

“In our drive to make Washington accountable, we have eliminated more regulations in our first year than any administration in history.” This one is also arguably accurate.

“We have ended the war on energy, and we have ended the war on clean coal.”

“I am asking both parties to come together to give us the safe, fast, reliable and modern infrastructure our economy needs and our people deserve.”

“The era of economic surrender is totally over. From now we expect trading relationships to be fair, and, very importantly, reciprocal.”

“One of my greatest priorities is to reduce the price of prescription drugs…one of my top priorities of the year.”

“Let’s invest in training, which we need so much.”

“Struggling communities, especially immigrant communities, will also be helped by immigration policies that focus on the best interests of American workers and American families. So tonight I am extending an open hand to work with members of both parties, Democrats and Republicans, to protect our citizens, of every background, color and creed.”

News below.

Alan Murray
@alansmurray
alan.murray@fortune.com

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