There is no denying that President Trump has taken a hit on a couple of fronts during his first year in office. Recently the feeding frenzy of the left has found Judge Roy Moore guilty of sexual harassment allegations that date back 38 years. Republicans did the President dirty when they didn’t back up his promise to repeal Obamacare or a pass tax reform bill. But there is one area, perhaps most important to voters, which there can be no denying he has delivered on time as he promised – the economy.
The stock market raced to all-time highs last week, the employment picture is brighter than since 2000, and companies are showing record earnings that promise a bright Christmas for workers.
Of course, the mainstream media will try to find a way to downplay the strong economy but that may prove to be a hard sell to the American public. But that doesn’t mean it hasn’t tried. On the same day that the stock market reached a record high, Time Magazine’s cover was typical: “The Wrecking Crew: How Trump’s Cabinet Is Dismantling Government.” The New York Times followed suit with a lead editorial proclaiming that team Trump is shrinking the regulatory state that President Obama erected at a dangerous pace.
The stock market success has to be most bothersome to progressives as almost everyone on that side predicted there would be no way for Trump to deliver on his promise to “Make America Great Again” with at least a 3% growth in the GDP. Consider what these prognosticators had to say before the election:
Jason Furman, chairman of the Council of Economic Advisers under Barack Obama – said the chances of reaching 3 percent growth over a decade were about 1-in-25. Ironically those were the same chances most political experts gave Trump to win the election.
Salon wrote earlier in the year – “Trump’s Growth Forecasts Are the Budgetary Equivalent of Putting Your Fingers in Your Ears and Yelling, ‘Na Na Na Na Na.’”
Larry Summers, Treasury secretary under President Bill Clinton and top economic adviser to President – “I do not see how any examination of U.S. history could possibly support the Trump forecast as a reasonable expectation,” he wrote in The Washington Post.
Rep. Pramila Jayapal (Dem – WA) -“This budget relies on absurd economic projections and pretend revenues that no credible economist would validate.
Investment guru Bill Gross of Janus Capital – “High rates of growth, and the productivity that drives it, are likely distant memories of a bygone era.”
Paul Krugman of The New York Times – declared Trump’s 3 percent forecast as an act of “economic arrogance.” He said the Trump forecast of faster growth was as likely as “driverless flying cars arriving en masse.”
The Dallas Mavericks owner, Mark Cuban, was adamant at the end of 2016 that Trump would destroy the economy. Speaking to Fox Business the billionaire predicted the stock market would go into a tailspin if Trump won the White House.
“In the event Donald wins, I have no doubt in my mind the market tanks,” Cuban said. “If the polls look like there’s a decent chance that Donald could win, I’ll put a huge hedge on that’s over 100% of my equity positions… that protects me just in case he wins.”
Over the last few months Cuban has had little to say about the economy and for good reason, Trump continues to prove his critics wrong.
This is the reason that Donald Trump should play to his strengths. People know that witnesses from year’s gone can prove to be less than true and North Korea may not think it worth the risk to see if the President means what he says. But what thing they will be sure of – a good Christmas season economy is a lot more than Barack Obama gave them.
The Obama administration threw everything but the economic kitchen sink at the economy and failed miserably. After $8 trillion of deficit spending, zero interest rates, three minimum wage increases, tight financial regulations, stimulus spending plans, and an all-out war on fossil fuels, the net result was a paltry 1.9% GDP growth. That left Americans with a $2 trillion growth deficit by 2016.
Jonathan Trugman of the New York Post gives the best reason for Trump to focus on the economy when he notes, “I love economics because it’s math, and there’s no BS in math.”
~ American Liberty Report