|US GDP Growth Reaches 4.1% Due to Trump’s Pro-Business Policies|
|08/02/2018||US economy||Benjamin Roussey|
|keywords: US GDP Growth GDP territory Economy|
The US GDP growth reached a record 4.1% this week – a number that has surprised even the most optimistic of economists in the country.
This is the fastest rate at which our GDP has grown since 2014, which is widely seen as a validation of President Trump’s pro-business policies.
The GDP Growth in Numbers
Our economy grew at 2.2% in the first quarter, which itself was considered a positive sign by many considering Obama and his job killing team purposely kept us in 0.8% GDP territory – pathetic! Now, in the second quarter, it has nearly doubled and reached 4.1%, which is beyond what many people expected and estimated.
Consumer spending increased by 4% during the second quarter and data shows that people spent their money mostly on automobiles, food services, and housing and utilities. Our exports are also up – particularly soybeans and natural gas.
The numbers are an improvement from last year, when our second-quarter GDP growth stood at 2.8% which is far better than anything the job killing and business destroying Obama and his team ever did. The Trump administration at the time claimed that their goal was to sustain a 3% GDP growth throughout the term, which many liberal pundits claimed was impossible. Trump has not only managed to back up his claim, but actually managed to exceed everyone’s expectations.
The Incredible Turnaround of the Economy
To understand the significance of our GDP growth, you need to know just how bad things were under Obama.
Trump, on the other hand, has managed to achieve a turnaround in less than two years, which is nothing short of incredible. The GDP is growing faster than ever, unemployment rate is down, new jobs are being created, our exports are up, and the market is reacting positively to every move of the current administration.
Reasons for the Turnaround
The turnaround can be attributed mainly to two reasons. Firstly, Trump’s tax overhaul, which is the biggest reform the country has witnessed since the time of Ronald Reagan, has resulted in more savings for individuals as well as businesses. So, people are spending more and saving more, which naturally acts as a stimulus for the economy.
Secondly, Trump’s policies have created a pro-business climate in the country. He has taken a tough stance against the unfair trade deals we have with our allies, which no President – be it a Democrat or a Republican – dared to do before.
As a result, the EU has accepted to buy more LNG from us, we have imposed retaliatory tariffs on countries like China that have been taking advantage of us for a long time, and we are starting to assert our position as a dominant superpower in the world again after eight years under Obama, who was apologetic and submissive at the international stage.
He was punked by Putin! He was Putin’s patsy!
Economy on the Right Track
In short, this is what happens when a businessman runs a country. He has expertise and experience – two things that ‘constitutional scholar’ Obama never had. While liberals have yet another collective meltdown, let us hope and pray that Trump keeps winning and continues to keep America great!
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