The U.S. economy grew more than 4 percent in the second quarter — the largest quarterly jump in four years, according to the Commerce Department. Trump is scheduled to hold a news conference this morning to discuss the economy.
GREAT GDP numbers just released. Will be having a news conference soon!
No doubt Trump will sing his own praises and take credit for such good news in the American economy. However the truth is frightening!
Economists say the biggest factor behind the spike is an explosion of exports, particularly soybeans, as countries scrambled to snatch up supplies at lower prices before tariffs hit.
Because of that, there seems to be consensus that this is a “blip” — driven by one-time factors, and that later this year growth will slow down because of the tariffs. The economy bump comes at a good time for the president and his fellow Republicans. Heading in the midterm elections, they can point to the best economic growth in four years, coupled with the lowest unemployment numbers in 20 years.
The truth is that Trump has proposed a 12 BILLION DOLLAR aide package for farmers to combat the devastation caused by Trump’s tariffs. So pause for a moment to consider the damage being done by Trump. He imposes tariffs that cause devastation to farmers, the world economies respond by buying up the soy beans in anticipation of the prices being out of control, Trump touts his clever economic intervention, and then anticipating the devastation for farmers proposes a bailout with 12 BILLION DOLLARS of tax payer money. In essence Trump’s brilliant idea is to impose tariffs that cause American exports to be taxed to the point of making them so expensive that nobody around the world would buy them. Then in anticipation of farmers being unable to sell their products, Trump’s solution is to put the farmers on welfare.
Republican Jeff Flake and other Republicans voiced strong objection to Trump’s tariffs and the consequential necessity of 12 Billion Dollars in aide Trump has proposed to give to farmers.