By Robert Carbery
Democrats declare that Obama is responsible for the current economic growth we are witnessing. Republicans counter that President Trump’s pro-business actions over the last year are to credit for the current economic climate.
We hear the arguments from both sides of the aisle as to why their man and their party was to credit for the continued prolonged economic expansion including steady job growth and record high stock market prices.
Fortunately for President Trump, the professionals agree with his argument that he is most responsible for the recent economic gains. According to a Wall Street Journal poll asking 68 business, financial, and academic economists who was responsible for the strengthening of the economy, most “suggested Mr. Trump’s election deserves at least some credit” for the upturn. A solid majority agree that Trump is “somewhat” or “strongly” a positive force for job creation, GDP growth, and the rising stock market.
The rollbacks of Obama-era regulations and the December-passed tax bill during Trump’s first tumultuous year in office are certainly critical to the sustained growth we have seen. More than 90 percent of the economists surveyed stated that the tax bill would keep pushing GDP expansion over the next two years.
One cannot ignore the business and consumer optimism since Trump’s election. Explosive business investment has occurred since last November and American companies are bringing more money back to our shores and doling out generous Christmas bonuses and raises after the tax bill passed. Total capital goods spending surged at a 6.2 percent annualized rate over the first three quarters of 2017. If wages keep accelerating and productivity remains high, then the Trump boom could be a sustained period of economic growth, when everyone is waiting for the next crash.
INDUSTRIAL PRODUCTION INDEX (Board of Governors of the Federal Reserve System)
Trump and the GOP’s victory lap ended quickly as the government shut down on Friday night. The Democrats continue to paint the Republicans as the mean-spirited party, despite the GOP just passing a tax reform bill that gives a cut to approximately 90 percent of American workers. While Democrats are winning the narrative now defending their precious “Dreamers,” Trump and Republicans have the law and the right America First argument on their side.
$1,000 bonuses for the average American worker are not “crumbs,” as House Minority Leader Nancy Pelosi would have you believe (despite praising an Obama-era tax cut of $40 in 2011). This is a very real, very significant, and very much needed boost for families across the country.
Whoever gains credit for the healthy economy into 2018 will be most successful in the upcoming midterm elections. The economy’s success has not been linked to Trump yet, as a recent Quinnipiac poll revealed how an encouraging 66 percent of those surveyed view the economy as “good” or “excellent,” however, 49 percent credit Obama while only 40 percent named Trump. However, this poll, as many polls in today’s era of fake news, contains errors. Only 23 percent questioned were Republicans and 34 percent were Democrats with the remaining 38 percent being Independents. The questions’ wording also seemed slightly anti-Trump.
The Democrats cannot hold off Trump and the GOP-controlled Congress receiving credit for the uptick in growth and rising wages for long. Even The New York Times has described a “wave of optimism” sweeping the nation, especially our business community, that is “beginning to translate into the sort of investment in new plants, equipment and factory upgrades that bolsters economic growth, spurs job creation — and may finally raise wages significantly.” This is the truth. And this is only the beginning.
Americans are feeling much better about their futures today than they did at anytime during the Obama administration. With continued economic success throughout 2018, it will be hard for Democrats to make any dent in the Republican wall in Congress in November. We shall see who wins the narrative war.
First, the federal government has to open.
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Economists in Agreement on Trump, not Obama, Getting the Credit for Recent Economic Gains
Views:
the only thing obama should be given credit for is the destruction of the republic…
2nd Place to Bushjr./Cheney the 9/11/2001 War PROFITEERS! And Establishers of the current SURVEILLANCE STATE USA! But, but but Obama. So sad! As Trump would say! MAGA!
Hmmm, So what exactly has Trump done Legislatively to warrant any credit for this supposed Economic Upturn? Everywhere I read about OUR USA Economy it’s GOING DOWN IN RECORD Bankruptcies & Retail Apocalypse. And after RECORD PROFITS for the top 1%, some Billionaire Company Owner decides throw a few crumbs to His workers (something that could have been done at anytime over the last 18yrs.). And this proves Trump has suddenly Revived a Stagnant Economy? This is ALL SMOKE & MIRRORS! Trump, aside from Propping up TWITTER has done nothing Legislatively. Nothing!
Has He done anything to stop the De-Dollariztion of the WORLD Economy? Russia/China & the Rest of the BRICS Nations are already trading Oil & Goods in NATIVE CURRENCIES! Backed by GOLD! Not Fed Printed FIAT Dollars. China will soon be TRADING with the Saudi’s in Petro Yuan. Further decreasing the NEED FOR DOLLARS. What will Trump do when the DOLLAR isn’t wanted by OUR Debt Holding Trade Partners?
The Anti-Obama MEME is soooo Blatantly Racist it’s sickening. Obama happened to Inherited the WORST ECONOMY AND EMPLOYMENT NUMBERS SINCE the GREAT DEPRESSION. Yet, Obama is to BLAME for everything since? Really? Racism is alive well in this here USA especially on these comment sections. As Mr.9/11 Bushjr. would say: “Mission Accomplished!” MAGA!
Most of Trumps work in improving the economy has been in the revoking of Obama’s illegal EOs. Now that the Tax Bill has been singed this should also be a major stimulus.
Thats straight bs. The 1% have had ALL the Income Growth. Yah, De-regulattion, Tax Cuts for the 1%, Waiving fines on Banks He owed money to,…….Major Stimulus for Whom?
The “Tax Cuts” that just got signed into effect going forward, not backwards!
Scroll down a little here on IWB and whats the story? “Record Number of Bank Locations close in 2017, More to come in 2018″. Thats the headline of a Story posted just after this one. Just below this story ” Chart of the Day: This Bubble IS Different- And Not in a good way!”. Hmmmm, what part of this should Trump get credit for? For the World Bank raising concerns about: “overly high share price valuations last week- they have now reached levels not seen since 2000 and the Wall Street Crash of 1929”. So, should I say thanks to Trump for at least creating an Illusion of doing something He really hasn’t done yet? MAGA
Don’t worry. THEY will blame Trump once the economy /market collapses. Look up Rep Paul Kanjorski /550 Billion disappeared in 2 hours/15 Sept 2007. THEY Collapsed the economy and we got Obama!
Look back to 9/10/2001 when Rumsfield announced that Several TRILLION DOLLARS were missing from Pentagon/Military. On 9/11 ALL THOSE involved in the Investigation of the missing Trillions were Killed & Records destroyed. During the 9/11 Attacks. Some coincidence eh?
And when Trump ran ALL the Racist made sure We got Trump. MAGA!
And you don’t think da Donkey’s, led by Obama and Clinton haven’t sucked up Hundreds of millions of dollars from da BANKSTERS? Follow da Money.
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Two Parties/One Puppet Master! UNI PARTY! Controlled and work for da Globalist Bankster Scum!
Your right, Scum Trump & Bushjr./Cheney (still Profiting from 9/11!) Real Scum! MAGA!
Wake up bro! Bushes, Clintons and Obama are AL Globalist Scum workin for the same masters.
Is this true? Could you please send me evidence / proof when you get a chance? Thanks
Robert
Just google it. There are tons of References & Youtube videos. I just did to see what came up. lots!
“ALL the Racist made sure We got Trump.” Do you realize how old that “racist” crud is? That word means as much as calling someone a liar because they disagree with your opinion.
Actually, I shouldn’t pile ALL the Trump voters into Racist Basket. Many believed He would keep his word, He hasn’t. Fool Me once shame on You (Trump), Fool Me twice Shame on Me! Right? MAGA!
I also posted that story on the record number of bank locations closing. We are going through a transformational period in not only our national politics but in our transportation (Millenials 5 times less likely to own a car than their parents), retail (more and more people are buying things on Amazon), and the way we work (coworking and shared office space to make up approximately 30% of total U.S. inventory by 2030, according to JLL). More money in the pockets of job creators results in higher wages for more workers. It’s simple economics and Trump should get credit for prioritizing jobs over the environment and other third world countries that are, dare I say, sh**holes!
But, the left says Trump is un-American & bad for this country. If the left is against him, that should tell you he’s doing something right.