Good News From The Economy…Just In Time For The Election
The U.S. economy expanded at a solid 2.9 percent annual rate from July through September, making this quarter’s growth the best the U.S. has seen in two years.
Republican policies, on the other hand, have a long, steady history of having negative – even disastrous – effects on the American economy. Unfortunately, it hasn’t stopped them from trying to hoist their failed ideas off on the American public time and again.
So what, exactly, is Donald Trump bellowing about when he cries about change?
Good News For Clinton And Democrats
As Mother Jones reports:
“Politically, this is good news for Hillary Clinton. Donald Trump wants this to be a change election, but if inflation is low, unemployment is low, and economic growth is healthy, an awful lot of people are going to think that an extension of the Obama presidency sounds pretty good.”
The growth was driven by several factors, but largely due to a big increase in the purchase of durable goods, such as cars and refrigerators. Consumer confidence has also hit a 9-year high, which again begs the question…
Why are Republicans saying that Clinton would be a third-term of Obama like it’s a bad thing?
And in another blow to GOP nominee Trump, who has made trade a central issue, exports grew by 10 percent – the best pace in almost three years. While Trump is threatening to impose tariffs against Mexico and China, the Obama economy has increased agricultural exports to China by 200 percent.
Trump released a statement, dismissing the solid quarterly growth as “modest.” To give him credit, though, at least he hasn’t claimed that the numbers out on the U.S. economy are rigged.
Trump has promised economic growth of 4 percent if elected. This claim has been dismissed as simply unrealistic by economists, and his plans – what little there are of them – have been estimated to cost millions of jobs.