Remember when President Obama, in Carter-esque fashion, gravely warned the American people that 2% annual GDP growth was the new normal?
The parallels between Obama and Carter’s doom-and-gloom economic forecasts–and between Reagan and Trump’s pro-American optimism–once again come to the fore with the latest predictions from the Atlanta Fed.
A piece at Breitbart notes that annualized GDP growth for the second quarter of 2018 is a whopping 4.8%. And that’s despite threats of a trade war.
Maybe the scare over tariffs is premature, or the United States is in a position to benefit from playing some hardball on trade. Free trade is not an unalloyed good, though it is certainly beneficial, and tariffs are not unequivocally bad.
Mostly, though, it seems that the tax cuts are working. America is getting its economic groove back. Trump is making America great again by getting government out of the way and letting business thrive.