Oh, what Americans can do when the fetters of regulations and strangulation level taxes are removed.
On Friday, President Donald Trump published news that all Americans have been dying to hear for almost ten years. The Gross Domestic Product for the second quarter of 2108 when the tax cuts and lack of regulations really took hold cleared 4% and is currently sitting at 4.1%.
President Trump touted the “amazing” growth during remarks at the White House shortly after the report’s release, cheering a shrinking trade deficit and claiming the country is on track to hit the highest annual growth rate in over 13 years.
“We’ve accomplished an economic turnaround of historic proportions,” Trump declared. “Once again, we are the economic envy of the entire world.”
The GDP, on the other hand, at least according to Barack Obama who did his level best to bankrupt us, was never supposed to see three again let alone four.
“As the trade deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers,” Trump said Friday.
The figures may reflect a temporary boost due to short-term factors, but lend a powerful midterm-season talking point to congressional Republicans hitting the campaign trail during the summer recess. Democrats for months have downplayed and criticized the GOP-authored tax cuts as favoring the wealthy, but Republicans maintain that Americans have broadly benefited.
And if anyone listened to the end of President Trump’s speech at the reopened Granite City Steelworks on Thursday they would understand the point. It’s not just the steel industry that is restarted but mining the ore, barge and rail transportation and the people who work in those industries that are benefitting. The money they make then “trickles down” in businesses like grocery stores, nail salons, car dealerships and many more as Americans can once again spend money.
Democrats can poo-poo this achievement all they want, but those employed in higher wage jobs know better. America is back, and it is great to be the envy of the world once again.