Remember during the Obama years? The media reported even bad economic numbers as “good” for the President. Right now we have screaming growth in manufacturing and many other sectors but you wouldn’t know it from watching any mainstream newscast. It’s all being driven by optimism and the sense that business investment during the Trump administration will yield big gains for companies across the country.
Furthermore, the prospects of cutting corporate taxes and reducing taxes across the board is fueling the growth:
CNBC is reporting on the strong growth:
The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction.
Gross domestic product increased at a 3.0 percent annual rate in the July-September period after expanding at a 3.1 percent pace in the second quarter, the Commerce Department said on Friday.
The President has been correctly claiming that President Obama never hit 3% GDP growth during any quarter of his presidency. The statement is entirely without dispute, he never did. But the revisionists are still working hard to bend over backwards, as illustrated here in Politifact:
Representative Roskam (R) said the Obama “administration was the first administration that never had a whole year of 3 percent growth.”
While Roskam’s claim is accurate when based on annual GDP growth figures between 2009 and 2016, there are other ways to look at the data, such as from one quarter to the same in the previous year. Doing so reveals economic growth has surpassed 3 percent during two periods of Obama’s presidency.
We rate Roskam’s claim Mostly True.
Mostly true? It’s completely 100% true, but you need to protect the pathetic legacy of Barack Obama, I understand. You can’t let anyone start to think that socialist policies destroy economic growth so keep playing the numbers game to make the last 8 years look good.
My hope is that the next few years become so explosive, that it will be impossible to ignore just how bad our economy was under Barack Obama.
Trump deserves credit because businesses know he wants to see growth and wants capitalism to thrive. The same couldn’t be said under the Obama administration. Furthermore, everyone was bracing for Hillary Clinton to win, which is why we’ve seen explosive growth since January as businesses decided that now was the time to invest under a President that wants to see jobs created and industries expanding.