As the GDP growth rate soared above 4% and performed better than any other quarter in years, much praise is being given to the President. And no doubt that the President deserves some credit. Although we can debate how much effect a President has on the overall economy, there is no doubt that monetary policies such as tax rates, spending, and regulations set an overall environment in which businesses and consumers either thrive or stagnate.
By historical standards, a GDP growth rate of over 4% is very good (the average GDP growth rate from 1958 to 2018 has been 3.2%). So, yes, the news of this quarter’s growth rate is very good and welcome.
Kudos to the President for setting the stage for this to occur!
As much as I disagree with most everything he says and does, President Obama surely deserves credit for these amazing numbers.
5% GDP growth rate in 3rd qtr 2014 is the best performance in 11 years!
Oh wait…I’m sorry…did you think I was talking about today’s grand announcement of 4.1% GDP growth for 2nd qtr 2018 (FoxNews)?
“We’ve accomplished an economic turnaround of historic proportions,” Trump declared. “Once again, we are the economic envy of the entire world.”
I wonder if he and everyone who is so ecstatic today gave Obama credit in 3rd qtr 2014?
Look, I’m not trying to just find something negative about Trump no matter what the news is. It’s no secret that I’m not a fan of Trump, but I do attempt to be objective before criticizing and have a legitimate, substantive argument when doing so. No doubt, 4.1% GDP growth is great news and Trump does deserve some credit for that. I agree with some of the tax changes and reducing regulations and I do believe that has an impact on things. However, I’m just tired of all of the games that are played by both sides. It’s obvious and blatant. When Obama had good numbers like this, Republicans (including myself) poo-pooed them and Democrats praised his economic genius. When Trump has good numbers, just the opposite. It’s tiring.
I could dive into all of the details about how we got here, the good and bad of the tax cuts, what Trump’s tariffs will likely do if he continues with them, and myriad other things that could argue how much credit he deserves. But I won’t do that here. The bottom line is that, no matter how it happened, the 2nd qtr growth rate has been estimated at 4.1%, which is great. And Trump, being President, can claim credit for it and use it to promote himself and his party just as any other President would.
A little perspective and intellectual honesty would be refreshing, is all I’m saying. We all need to be a little smarter, a little more honest about things, and a lot more critically thinking if we are to truly take control back from all of these politicians.