What a difference an administration makes.
Eight years under Obama saw our economy slug along. Who would have thought that heavy taxes and bloated government programs would hurt our economy!
But thanks to the optimism and decisive deals struck by President Trump, things are looking better. Just how much better? Let’s just say that our GDP is doing well. Very well.
The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.
Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.
Growth last quarter was the strongest since the first quarter of 2015 and followed a 1.2 percent pace in the January-March period. Economists had expected that second-quarter GDP growth would be raised to a 2.7 percent rate.
Retail sales and business spending data so far suggest the economy maintained its stamina early in the third quarter. Other data on Wednesday showed private employers ramped up hiring in August, adding 237,000 jobs to their payrolls. That was up from 201,000 jobs in July.
Republican President Donald Trump has set an ambitious 3.0 percent growth target for 2017, to be achieved through a mix of tax cuts, deregulation and infrastructure spending.
Critics of the President point to his yet unpassed tax cuts. Yet his executive orders lessening the burden of Obamacare, cutting massive regulation, and new deals that are bringing jobs back have already caused our economy to soar.
This great news about the GDP comes after months of skyrocketing stocks and amazing employment reports. Despite the doom and gloom reports from the mainstream media, it appears that President Trump is making good on his promises to restore the U.S. economy.
Things will only get better. At time goes on, we will feel the greater effects of Trump’s policies. That include the many big businesses that have vowed to bring in significant numbers of new jobs. More companies will join their ranks, eager to put Americans to work in a (finally) favorable economic climate.
Getting tired of winning? I don’t think so.