President Obama presided over the worst economic recovery since World War II. The media likes to pretend that Obama was great for the economy but that just doesn’t jive with reality.
Liberal elites had a great time lecturing us back in 2016 about how the markets would crash if Trump won. They skyrocketed. On top of that, job creation has been robust and economic optimism has been off the charts.
Trump just got some more good news and if it turns out to be true it will be the greatest economic news he’s gotten since he took office.
From Breitbart News:
The American economy is on track to grow at a 5.4 percent annualized rate in the first quarter of this year, the Atlanta Federal Reserve’s GDPNow forecast model showed on Monday.
This is an early reading, based on just one-months data. Even the most optimistic economists do not expect the economy to expand at that rate in the first quarter.
The economy is on track to put up blockbuster growth numbers in the first quarter, according to the latest forecast from the Atlanta Fed.
GDP is expected to surge 5.4 percent to start 2018, the central bank branch estimated in its latest rolling look at how the economy is progressing.
If the forecast holds, it would be the best quarter since the Great Recession ended in 2009. The previous highest was third quarter of 2014, which hit 5.2 percent.
However, the Atlanta Fed’s tracker has shown to have reliability issues in the past. In particular, the model’s sensitivity to the ISM manufacturing index has led the gauge astray multiple times, causing growth to be overstated.
The ISM numbers were the principle impetus for the raise in growth projections Thursday.
Now, it’s important to point out that both Breitbart and CNBC noted that the Atlanta Federal Reserve has been wrong before. But, even if this is off by a little bit it will be a tremendous sign for the Trump economy. If this report is correct, that would be outstanding.
On top of this news, Trump got some great job numbers this week as well.
From Fox Business:
U.S. companies added 234,000 jobs in January, a report from ADP Research Institute said Wednesday, a day after President Donald Trump touted labor market strength in his first official State of the Union address.
Economists surveyed by Thomson Reuters had projected that private payrolls would grow by 185,000.
“Since the election, we have created 2.4 million new jobs, including 200,000 new jobs in manufacturing alone,” Trump said Tuesday.
The Obama days are over and Trump is making things happen for the economy just like he said he would.
Democrats can complain all they want but you just can’t deny these numbers.
Trump’s tax plan is going to be rocket fuel for the economy as well so you better get used to more news like this.
[Note: This post was written by Andrew Mark Miller]