Under President Obama, who set a new presidential record for anemic GDP growth, we were lectured that low growth was the “new normal,” and we just had to get used to it. When candidate Trump said there was no reason we couldn’t have growth of 3% or higher, he was condescendingly dismissed as a know-nothing or madman.
Post-script: it was just reported that second quarter GDP growth was 3%, despite the devastation from two major hurricanes. This follows the last quarter of growth at 3.1%. Unemployment is at a 16-year low, and the stock market is at a record high.
There are only two possible conclusions: the Obama-believing liberals were wrong and Trump was right. Or the economy acts independently of presidential actions, so all the howling, sneering and posturing over how Trump was going to destroy it was pointless. I don’t know which one of those choices would be more painful for them to accept.