Like a bony hand reaching up from the political grave, former President Barack Obama has managed to strike back at President Donald Trump one last time.
In 2016, U.S. economic growth failed to reach 3 percent for the 11th year in a row, according to MarketWatch. Is the liberal media in a tizzy over years of economic failure with Obama at the helm? Heavens, no!
What has the liberal media warming up their violins is the report that expansion slowed in the 4th quarter of 2016.
We can expect to see a trail of tears and wailing from the decreasingly sane liberal media, claiming that the slowdown during Obama’s last quarter as president was the market’s trepidation at the impending Trump presidency.
Here are some real numbers to chew on, from the same report: U.S. 2016 annual growth was only 1.6 percent, the weakest performance since 2011. Although the historical average is 3.3 percent, we haven’t topped 3 percent since 2005.
In short, all eight years of the Obama presidency were an economic train wreck.
In contrast, Trump has been in office for one week — ONE WEEK — and his leadership is already having a stunning economic impact. The stock market has exploded, closing at an all-time high of 19,000 just 16 days after Trump’s election, according to the USA Today. Jobs are being saved. Jobs are being created.
Even the anemic economic growth numbers under Barack Obama’s presidency can’t dampen the economic fire Trump has promised to unleash.
Trump’s push for an aggressive combination of tax cuts, reduced regulations and economic protectionism will take some time to show in the numbers; you can’t correct eight years of poor economic policy overnight. It is likely that real growth won’t be reflected in our Gross Domestic Product reports until late 2017 or early 2018.
However, the immediate benefit is a renewed optimism like we haven’t seen in years. America’s heartland is taking Trump at his word, and the air of expectation is palpable. People hungry for jobs have faith that he will give U.S. industry more than lip service and that real economic recovery is on the way.
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