A GDP report shows that the BOOMING Trump economy is soaring at 4.1 percent. It marks the fastest economic expansion in nearly four years, according to a long-awaited official estimate released Friday by the Commerce Department.
The media talking point is it is because of the soybeans the EU will buy. They insult our intelligence.
The GDP broadly reflects the goods and services produced in the country. Tax cuts, commitment to deregulation and tough trade policies have paid off.
As reported by the Commerce Department’s Bureau of Economic Analysis, the growth from April to June was the largest since the economy’s 5.2 percent surge in the third quarter of 2014, which was the greatest economic expansion since the third quarter of 2003.
Consumer spending makes up more than two-thirds of GDP, and Friday’s high numbers were driven in part by increased retail spending and low unemployment. The sweeping Republican tax cuts that took effect in January were a major contributing factor, permanently slashing the corporate tax rate from 35 percent to 21 percent and increasing many workers’ take-home pay.
THE NY TIMES IS TICKED OFF, WARNING PEOPLE IT’S TOO GOOD
I guess we’re entering the stage of economic growth where we’ll witness anti-Trump spin like: GDP is too high, unemployment is too low, markets are too high, SNAP signups are too low, consumer confidence is too high…give it a rest people & be happy for your country for once! pic.twitter.com/rZOHLBjqQ1
— Lee Zeldin (@RepLeeZeldin) July 27, 2018
The NY Times was ready with their bad news report of the booming economy. Reluctantly, they admit, “Still, recent data does suggest that the pace of growth has picked up this year,” but not until they made excuses as to why it’s not good news.
The growth won’t continue, this is just a blip, they say. It’s “misleading” because there are “one-time factors” like a “surge in exports” and “Mr. Trump’s trade policies”. [Trump’s policies are expected to continue exports and improved trade deals]
Gloom and Doom NY Times wrote, “Those effects won’t last, and economists expect growth to slow in the second half of the year. Pretty much no one outside the White House thinks a growth rate of 4 percent is sustainable in the long term.” [They only speak to people inside their bubble]
If this were Barack Obama, they would blow up the paper with all the good news they would print. They praised him excessively for mediocre news or made excuses for the bad results.
The Times article continued along the same vein. “The bottom line is that the economy is doing better,” said Diane Swonk, chief economist for the accounting firm Grant Thornton. But then they followed it up with assurances that economists will dig deeper and find out why it’s doing better and if this isn’t just temporary.
They also framed the 4.1 percent as maybe 3 percent for the year and he didn’t do as well in 2017. The Times is disgusting.
Keep that misery going NY Times.