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Friday, July 27, 2018

Trump promised 4% growth. He delivered

"Donald Trump has a big promise for the U.S. economy: 4% growth. No chance, say 11 economists surveyed by CNN Money. And a paper published Tuesday by the Federal Reserve Bank of San Francisco backs them up," CNN reported on October 11, 2016.

Robert Brusca, senior economist at FAO Economics, a research firm, said, "No, pigs do not fly. Donald Trump is dreaming."

Swine Airlines, now boarding at Gate 4.1%.

The American economy grew by 4.1% in April, May, and June. Only four times in the 32 quarters that Obama was president did it top 4%.

The second quarter jump means the economy grew by more than 3% in the last four quarters.

That never happened under Obama.

As Republican Congressman Peter Roskam of Illinois said on March 6, 2017, "The past administration was the first administration that never had a whole year of 3 percent growth."

The American economy is doing so well that ahead of today's release of the economic growth numbers, cable news talked about Russian collusion again.

They must have run out of Playboy bunnies and porn queens to talk trash about President Trump.

But no one cares. Making America Great Again is all that matters.

President Trump has relentlessly pursued economic growth since the day after his election as president. Instead of taking a post-election vacation, he turned Trump Tower into his White House-in-waiting.

He called businesses, twisted arms, and cut deals. In the middle of Thanksgiving, he announced Carrier would keep open its furnace plant instead of moving it to Mexico.

You know, the plant that Obama gave up on. He said these jobs ain't coming back; learn computer coding. Then he laughed, knowing he had a $65 million book deal coming once the presidential gig ended.

President Trump did not surrender to the Mexicans.

As president, his Cabinet has rolled back unnecessary and meddlesome regulations. A Republican Congress cut taxes — without a single Democratic vote.

President Trump pulled the United States out of the Paris climate thingy, and decided not to join the Trans Pacific Partnership. No thanks. We have seen what these Lilliputian international bureaucracies have done to the Gulliver we call America.

Now President Trump is renegotiating trade treaties by threatening to level the economies of our frenemies if they do not level the playing field.

South Korea and Japan were on board without complaint. The European Union just capitulated. The Mexicans just overwhelmingly elected a president who agrees with President Trump on NAFTA.

The American economy is back in a manner we have not seen since the 20th century ended.

That was 18 years ago.

A whole generation grew up under the economic mediocrity of President Bush 43 followed by Obama's economic malaise. The millennials for the first time are seeing the cure for poverty. It is spelled J-O-B-S.

"In addition to the rise in consumer and business spending, increases in exports and government spending also helped. Exports rose in part as farmers rushed to get soybeans to China ahead of expected retaliatory tariffs to take effect in the coming days. Declines in private inventory investment and residential fixed investment were the main drags," CNBC said.

The experts scoffed when Trump said he would deliver 4% growth.

In that October 11, 2016, report, CNN said, "Trump's team says it will get to 4% growth with tax cuts, better trade deals and more manufacturing jobs.

"So what's realistic? The San Francisco Fed estimates the new normal for annual economic growth to be 1.5% to 1.75%. That's far lower than the period from World War II to 2004, when growth typically hovered between 3% and 4%."

He's doubled their normal. His plan worked.

Never bet against Donald John Trump.

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Please enjoy my books in paperback and on Kindle.

Trump the Press covers the nomination.

Trump the Establishment covers the election.

Fake News Follies of 2017 covers his first year as president.

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13 comments:

  1. Imagine what it would have been with help from the Fed. Reserve and their Obama propping up quantitative easing.

    ReplyDelete
  2. Obama should have had Trump as his chief economic adviser. Then maybe he could have had a recovery summer.

    ReplyDelete
  3. Trump the Unleasher. For a few it's their anger but for most of us it's shop till we drop and buy till we die.

    ReplyDelete
  4. It is spelled J-O-B-S.

    That magic 3 letter word.

    ReplyDelete
    Replies
    1. So said “Joltin Joe” “Bite-me” Biden!!!

      What a maroon! :<D

      Boarwild

      Delete
  5. MAGA. PDJT’s economic team is made up of successful, experienced businessmen. Finally, them that know vs. academicians that only have experience dabbling in theories.

    I hope that VP Pence is paying close attention so that when he runs in 2024, he will continue the policies and actions, unlike when George Bush followed President Reagan. I would like to think he is.

    ReplyDelete
    Replies
    1. It is not going to be Pence,Pompeo will be the one.And some more info,

      Obama did have some high gdp quarters (4 or 5). The problem is that the other three quarters of the year were extremely low….so his yearly GDP rates were low.

      Trump is on record for sustained growth (past quarters show that) for an awesome yearly GDP rate.

      Average growth under Bush Sr., was 2.1 percent; 3.9 percent for Bill Clinton; 2.3 percent for George H.W. Bush; and 3.5 percent for Ronald Reagan.

      Obama’s yearly GDP never broke 3%.

      ’09 -2.8%
      ’10 2.5%
      ’11 1.6%
      ’12 2.2%
      ’13 1.7%
      ’14 2.6%
      ’15 2.9%
      ’16 1.5%

      Delete
  6. "So what's realistic? The San Francisco Fed estimates the new normal for annual economic growth to be 1.5% to 1.75%."

    If the caretakers of the economy are that far off the mark, you have to question why the Fed Reserve should not be drastically reformed or even eliminated. Perish the thought? Not if the experts are more useless than a ouija board.

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  7. Don't forget that with Obama there was always a slight lowering of the GDP a week or so after delivery. I expect that the percentage will edge up a point or two in the coming weeks.

    ReplyDelete
    Replies
    1. It will be about 5%,when revised,it was sandbagged this one was.

      Delete
  8. I must admit that I thought Trump was being overly ambitious and optimistic with his promises.

    I was wrong.

    ReplyDelete
  9. Left out FAO "SCHWARTZ' Economics

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  10. "Swine Airlines, now boarding at Gate 4.1%."
    LOL !

    ReplyDelete