Two years ago, Barack Obama proclaimed that the only way that Trump could boost economic growth and manufacturing in the US, was to wave a “magic wand.” Former Obama economist Larry Summers famously declared that economic growth in the US was limited to 2% or less — GDP growth in the range of 3% to 4% was impossible! Leftist NYT columnist Paul Krugman predicted in 2016 that if Trump were elected he would crash the the economy and the markets. More
Welcome to “The End of the World”
But the world did not end with the election of Trump, and leftists are totally pissed off! They are particularly pissed that the US economy seems to have been boosted a level or two in response to Trump’s unwinding of Obama’s draconian regulatory nightmare.
President Obama’s lame duck administration poured on thousands more new regulations in 2016 at a rate of 18 for every new law passed, according to a Friday analysis of his team’s expansion of federal authority.
While Congress passed just 211 laws, Obama’s team issued an accompanying 3,852 new federal regulations, some costing billions of dollars. __ Source
Trump took everything Obama was trying to do to the US economy, and simply did the opposite. As a result, US GDP growth is nudging 4%, manufacturing is up, employment and workforce participation have risen, business optimism is up, worker optimism is slowly rising despite media sabotage,
What Is Trump’s “Magic Wand?”
When a twisted ideologue who is actively trying to destroy the US economy and US society occupies the White House for eight years, he can do a lot of damage. And he did do a lot of damage from 2008 to 2016, taking a bad situation and making it worse.
As mentioned above, all that Trump had to do was to untwist the strangulation knots that Obama had so carefully wrapped around the throat of the US economic system (and all other aspects of US society). The untwisting is still in the early stages, but it shows signs of promise in the early results.
Barack Obama: “What Trump Has Done is Inconceivable!”
Say, Barack, I do not think that word means what you think it means.
Yes, I parody Obama’s words and thoughts, but my satirical version of Obama’s thoughts is both funnier and closer to the truth.
The Real Obama “Recovery”
… the Obama recovery was remarkably flimsy. In 2015 the Joint Economic Committee of Congress found that compared to the eight previous post-recession events, “the Obama recovery was the weakest on record.” The recovery was so shallow that had Obama merely achieved a normal pace of recovery, personal income in 2014 would have been $3,200 higher. If the economy had matched the Reagan trajectory, GDP in 2016 would have been almost $3 trillion larger (equivalent to the combined GDP of Michigan, Ohio and Pennsylvania).
Even as measured by the left’s favorite metric, “economic fairness,” the policies failed. The index of income inequality rose nearly every year under Obama, and the groups that suffered the fastest declines in income were the poor, blacks, Hispanics and single women. __ https://www.dallasnews.com/opinion/commentary/2018/09/13/trump-is-proving-that-obamanomics-failed
As the US moves away from strangulating Obama policies, optimism as well as actual conditions are improving.
Images via Brian Wang:
Always remember: Obama’s socialist crony-style economic thinking is dominant in academia, media, the deep state, and inside the beltway of crony capitalism.
Donald Trump — like Ronald Reagan — may have bought the US (and the world) a little time. But cronyism is alive and well in Washington DC, Brussels, Moscow, and in every national capital of the world. Everything that is wrong with the US is ten times as wrong in most other countries of the world.
Use this time wisely. Make provisions for possible Soviet-style years under the new socialism of the postmodern multicultural identitarians and social justice “unicorn and rainbow” warriors. To these people, making others suffer and die for their own fantasies is the noblest of causes.
Hope for the best. Prepare for the worst. It is never too late for a Dangerous Childhood © .