At the conclusion of Trump’s first year, the stock market and small-business confidence are at record highs, and consumer confidence has not been higher in 17 years. Trump’s loud campaign promises to lure back capital and industry to the heartland no longer look quixotic, given new tax and deregulatory incentives and far cheaper energy costs than in most of Europe and Japan.

Trump has now ended 66 regulations for every one he has added. Few believed a Republican president could cut the corporate-tax rate from 35 percent to 21 percent while capping state- and local-tax deductions for mostly high earners to $10,000. Those are the highlights of a comprehensive tax-reform and -reduction agenda that will likely accelerate the economy to an even more rapid growth rate than Trump’s first two full quarters of annualized increases in GDP of more than 3 percent.

Dozens of large companies are already passing along some of their anticipated tax cuts to employees through increased wages or bonuses — dismissed as “crumbs” by House minority leader Nancy Pelosi. Rising workers’ wages and anticipated tax credits and savings for the lower and middle classes for now are rendering almost mute the age-old fights about state-mandated minimum-wage laws. The mostly unheralded nixing of the Obamacare individual mandate — once the great ideological battlefield of the Affordable Care Act — will insidiously recalibrate the ACA into a mostly private-market enterprise.

Domestic oil production is slated to exceed 2017 record levels and soon may hit an astonishing 11 million barrels a day. “Peak oil” for now is an ossified idea, as are massive wind and solar Solyndra-like government subsidies and the mostly unworkable Paris Climate Accord.

Gas, oil, and coal production are expected to rise even higher with new Trump initiatives to open up the Arctic National Wildlife Refuge field in Alaska, encourage more fracking on federal lands and offshore, and complete needed pipeline links while encouraging coal exportation.

For all the political horse-trading over extending or ending the Obama executive orders on DACA, illegal immigration has declined according to some metrics by over 60 percent. It is now at the lowest levels in the 21st century — even before the ending of chain migration and enacting of new border-security initiatives.

Abroad, the ISIS caliphate is for all purposes now extinct. Its demise is in part due to Trump’s outsourcing of the conflict to Secretary of Defense James Mattis, who liberated ground commanders from Obama-administration-era legalistic rules of engagement. Trump’s appointees, such as Mattis, National Security Adviser H. R. McMaster, U.N. Ambassador Nikki Haley, CIA Director Mike Pompeo, and Secretary of State Rex Tillerson, have worked in concert to restore U.S. deterrence. Variously called “principled realism” or a new “Jacksonianism,” the Trump doctrine has now replaced the “strategic patience” and “lead from behind” recessionals of the prior administration and not emulated the neoconservative nation-building of the George W. Bush administration.

New pressures on nuclear North Korea have prompted the toughest U.N. trade sanctions in history on the rogue state. After Trump’s fiery and erratic rhetoric and muscular displays of U.S. naval and air power in the Pacific, Pyongyang has agreed to landmark talks with Seoul. China is slowly beginning to pressure North Korea to stop launching missiles. Beijing’s Asian neighbors are beefing up missile defense and growing closer to the U.S. For now, the bad cop Trump and the good cops Mattis and McMaster have encouraged friends and frightened enemies, although the shelf life of such diplomatic gymnastics is limited.

Trump almost immediately voiced support for mass demonstrations in Iran, in a manner Obama failed to do in 2009. An ironic fallout of the disastrous 2015 Iran deal may be that the theocracy so hyped its cash windfalls from American relaxation of embargoes and sanctions that it inadvertently raised Iranians’ expectations of a rise in the standard of living. Then it dashed just those hopes by squandering hundreds of millions of newfound dollars in subsidizing Hezbollah, conducting a costly expeditionary war to save the genocidal Bashar al-Assad regime, and likely continuing an exorbitantly costly nuclear-weapons program.

What is different about Iran’s internal unrest this time around is twofold. The Trump administration is not invested in any “landmark” deal with Tehran that requires ignoring protesters in the street. Trump also does not envision revolutionary and terror-sponsoring Iran as a “very successful regional power” with “legitimate defense concerns.” Rather, he sees Tehran, along with ISIS and al-Qaeda, as the chief source of Middle East unrest and anti-Americanism.

Moving the U.S. embassy in Israel to Jerusalem, in line with past congressional mandates, along with threatening to curtail Palestinian aid, only reifies what is now widely accepted. The new Middle East is not the old. There are no longer any ongoing and viable “peace plans,” “road maps,” or “summits.” America is becoming energy-independent and immune to oil boycotts. There are new and greater threats than Israel to Arab regimes, from nuclear Iran to the scourge of Islamic terrorism in Iraq and Syria. Patience is wearing thin as after 30 years the Palestinians still cannot create transparent and consensual government. Seventy years after the birth of Israel, the Palestinians still insist on being called “refugees” — when most of the world’s millions of displaced persons decades ago moved on.