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Published On: Sat, Jul 28th, 2018

US economy soars as GDP climbs 4.1%, CNN won’t give Trump is due

The U.S. economy exhibited amazing growth in the second quarter of 2018, with the gross domestic product (GDP) climbing 4.1%, nearly doubling the first quarter, which was revised up to 2.2%.

The booming rate is the highest since the third quarter of 2014 and just the third-highest since the Great Recession began in 2008.

photo/ donkey hotey

The running four-quarter average is 3.1%, considered by economists to be a very strong number.

In Q2 of 2018, consumer spending grew 4%, while nonresidential business investment jumped 7.3%, both also considered strong numbers.

President Trump took credit in a proverbial victory lap on the White House’s South Lawn, telling reporters that the high numbers are “sustainable.”

“We’re going to go a lot higher,” Trump said. “As the trade deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers. …

“We’ve accomplished an economic turnaround of historic proportions,” Trump said. “Once again, we are the economic envy of the entire world.”

CNN, the bias anti-Trump news network, struggled to credit the President, publishing one story as “the full story” on the economy’s growth, claiming: “This is not sustainable,” said KC Mathews, chief investment officer at Kansas City-based UMB Bank. “Maybe we get a soft landing. Growth will slow, but we may not have a recession. Growth could go back to about a 2% to 2.5% level.”

In another, the CNN writer stated that Trump deserved “some credit”: “…the President’s hyperbolic assessment of his own performance is at odds with the facts.”

Adding: “There’s also plenty of scope to quibble with the substance of Trump’s economic claims. While growth may be roaring, critics say the tax cuts may not filter down significantly to blue-collar Americans and are certain to widen economic inequality.”

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About the Author

- Writer and Co-Founder of The Global Dispatch, Brandon has been covering news, offering commentary for years, beginning professionally in 2003 on Crazed Fanboy before expanding into other blogs and sites. Appearing on several radio shows, Brandon has hosted Dispatch Radio, written his first novel (The Rise of the Templar) and completed the three years Global University program in Ministerial Studies to be a pastor. To Contact Brandon email [email protected] ATTN: BRANDON

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