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"President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
...
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years."
5.5% decline in business investment! That is quite massive and goes right along with the manufacturing (purchasing manager, etc.) low numbers.
Of course, GDP and all that means nothing to the 3/4 or more of Americans who are not making it....or just barely doing so.
Nothing has changed...except perhaps that the long term prognosis is worse than ever. Even investors like myself have made almost nothing since Trump signed his great "tax reform" and started messing with tariff and trade threats.
I guess his definition of "winning so much you will get tired of winning" differs from mine.
"President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
...
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years."
Mueller's fault. Witch Hunt. Obama's fault. Hillary's fault. AOC/Mod Squad's fault. Chuck and Nancy. No obstruction, no collusion. Fed's fault. Blame Mexico. Caravans on the way. No collusion.
If Trump tells his base something completely different than the numbers show, they will believe him over the evidence right in front of them.
Trump's base knows what Trump said. Don't need you to make up nonsense. But it's clear that you didn't read that article.
From that very article.
GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Burnt
/thread
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