Steve actually broke the news here but narrative and numbers are great, I just prefer charts. For me, they give more context and a data element without context is useless. You want to see trends:
Unless of course, you’re looking at the Left side of this chart (how convenient!). When I look at that, I do see two quarters of 5%-5.2% GDP growth under Obama. Not bad, two in a row. But you look at all of the data points and you go “Trend?? It’s all OVER the place”. Which primarily says that there was NO stability in the marketplace under his onslaught of regulations and anti-business laws by the Democrats. Businesses certainly responded to that uncertainty
But you look at the growth under Trump, you do see a trend.
I’m no economist but simple charting says that the economy is a LOT more stable under Trump than Obama. Business owners and managers can actually plan based on that fact and not have to worry about being whipsawed around in that “this is good” today but “this is good” turns out to be “this is now REALLY bad” because government say WE CAN DO IT TO YOU. That’s how he averaged less than a 2% overall GDP growth.
While past performance is not a reliable predictor of future results, from what I’m reading is that it will be fairly likely that GDP will rise to be over 3%. While a single point may not sound like much, it really IS a big deal. Even bigger is if it continues to grow – growth can heal a lot of problems for both citizens and government.
My only hope is that the word “prudent” is kept uppermost by both sets of folks – “irrational exuberance” is not something that is good for any of us.
(H/T: Red State)
