(National Sentinel) So Much Winning: During Barack Obama’s eight scandal-filled years as president the U.S. economy never registered a single quarter of 3 percent growth.
In the six quarters since President Donald Trump has been at the helm, the U.S. economy has grown at a 3 percent or more rate in four of them.
And now the economy is on pace to grow an amazing 4 percent or more this year, thanks to POTUS Trump’s pro-growth policies, cutting of government red tape, and the tax cut bill.
In fact, at 3.8 percent the U.S. is at full employment, and many employers can’t even find enough workers to fill open positions.
As CNBC reported, Trump’s previous forecast of 4 percent growth is coming true:
Armed with new-found proceeds from the tax bill, American consumers went shopping in May, driving retail sales — and economic growth — sharply higher.
The economy in the second quarter is tracking close to 4 percent growth — a level President Donald Trump raved about last December, just before the tax bill was approved. At the same time, he had also told reporters he was holding out for a doubling of growth to 6 percent.
For now, his 4 percent forecast is close to coming true on a quarterly basis, after strong retail sales data pushed up tracking GDP growth for the second quarter to about double the first quarter’s level. The economy grew by 2.2 percent in the first quarter.
CNBC/Moody’s Analytics Rapid GDP Update reported economists’ estimates of tracking GDP show average growth at 3.8 percent, following Thursday’s retail sales report. Their actual forecasts, which take into account economic reports yet to be released, is running at an average 3.6 percent.
“On the heels of this data we now estimate real GDP is expanding at a 4.0% annual rate in Q2, up from our prior estimate of 2.75% and almost twice the 2.2% growth rate experienced in Q1,” wrote JP Morgan chief U.S. economist Michael Feroli.
Crooked Hillary Clinton would have continued Obama’s Marxist, no-growth policies without a doubt. Remember, she was selling herself as the former president’s third term.
Now, thanks to POTUS Trump’s policies and some help from the GOP Congress, average Americans’ retirement accounts are swelling as the stock market skyrockets and consumerism returns.
Not a bad birthday present for the commander-in-chief.
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