But despite the nay-sayers in the leftist media, the economy grew at a 3.1 percent growth rate in the third quarter of the year, getting us close to President Donald Trump’s promise of a 3.5 percent growth rate “and sometimes 4” on the campaign trail.
The growth defied all expectations – especially after Hurricane Harvey hit Texas, causing nearly $200 billion in damage. Even The Washington Post had to admit to the success:
Combined with a strong labor market and record highs in the stock market — the Standard & Poor’s 500 index is up 15 percent year to date — the economy is proving to be an ally of a president who is otherwise suffering from unusually low approval numbers and political conflicts.
Of course, now that it’s happened, the press is desperate to say that President Trump had nothing to do with the booming economy.
“He gets zero credit because he hasn’t done anything. There’s been zero change in economic policy,” says Mark Zandi, chief economist at Moody’s Analytics, a research firm. “This uptick is happening across the globe. It’s not just the U.S.”
So let’s take a walk down memory lane and see what these Trump-haters said about President Trump’s prediction over the summer, shall we?
In a column headlined, “If Trump thinks he can get more than 3% economic growth, he’s dreaming,” LA Times writer Michael Hilzik wrote:
With economists being cautious to their bones, few will say categorically that reaching Trump’s goal is impossible. But he’s placed a lot of weight on the shoulders of that goal and produced precious little evidence to show it can be achieved. The general consensus seems to be: it could happen, but that’s not the way to bet.
Oops? Sorry, Michael. You’re wrong.
Most economists predict that the true growth over the next decade will be a little less than two percent. But of course, it is so easy to just say 3 percent. It seems so small, so achievable. But over the next few months, you are likely to hear more of the economic dream than the economic reality.
Aww … wrong, Mr. Smith.
And over at Business Insider, writer Linette Lopez said:
Three percent GDP growth. Three percent GDP growth. Three percent GDP growth.
Get it stamped on your brain. Get it tattooed somewhere. Have some T-shirts made, because this is team Trump’s goal for the economy. In a time of extreme policy confusion, 3% GDP growth is one of the only firm targets we have to hang onto.
The problem is that in interview after interview, Donald Trump and his surrogates have demonstrated that they have no idea how to get there.
Looks like they figured it out, Linette.
Sure, one quarter doesn’t make for a year-long rate, but we’re closer than anyone in the liberal media ever predicted.
And that’s enough to put a little spring in your step, isn’t it?