It looks like the economy has managed to push aside the smothering pillow of Obamanomics.
The Commerce Department reported Friday that the economy grew at a pace of 4.1 percent in the second quarter, propelled by consumer spending in another win for Mr. Trump’s policies of lower taxes and fewer regulations.
The growth was the fastest since 2014, following first-quarter growth of 2.2 percent that was revised up from 2 percent.
The suffocating “cultural” blanket of Obamanomics is wearing thin as well.
The Washington Times also reports, according to Mr. Trump, that (reformatted),
The president also said more than 3.5 million Americans have been lifted off food stamps since he took office. “That’s because they’re able to go out and get a job,” he said. Consumer spending grew 4 percent, more than expected, while nonresidential business investment climbed at a pace of 7.3 percent.
And after some economic saber rattling by the EU that looked to give the Left and the Never-Trumpers some ammunition, The US and EU are not going to have a trade war.
President Donald Trump said Wednesday that he and European Commission President Jean-Claude Juncker agreed to work toward eliminating tariffs and barriers on trade, reducing tensions for now in a brewing trade war.
It was essentially a deal to make a deal, announced in celebratory fashion during an previously unannounced appearance in the White House Rose Garden.
Both sides will hold off on any tariffs while they discuss the goal of a tariff-free trade zone. But that’s not all Trump got out of it.
Trump indicated both sides agreed to halt for now tariffs that threatened to devolve into a trade war as negotiations proceed, and said the EU agreed to import more US soybeans and liquid natural gas.
Sounds like another Win to me.
