(image via ang.af.mil.JPG)
(4 minute read)
By Rick Amato,
To hear the mainstream media describe it former U.S. president Barack Obama was an economic genius and savior deserving of great praise and gratitude by all American citizens. So much so that to many in the media today’s economic growth occurring under the current Trump administration should be credited back to Barack Obama. “He set the ball in motion” so goes the thinking- or at least so goes the narrative.
To be sure the Obama administration inherited an economy in recession when it took office in 2009 and managed to avoid a further eroding of the economy. For that they deserve credit. But let’s discuss what the media won’t. The average annual economic growth during the Obama years was an anemic 1.48%. And as pointed out here previously, Barack Obama is now the only president in U.S. history to never to have a year of 3% GDP growth. Not one of the only, the only.
Which brings us to President Donald Trump. While the media wants to focus on what Michael Cohen did or didn’t tell CNN and other fake news stories, there is an important developing story they have chosen to ignore. The President is laying the groundwork for what can potentially result in some very robust long term job and economic growth for the U.S. economy.
The media has been quick to mock Donald Trump on his proposed use of tariffs against the EU, Mexico, China and Canada. But they have failed to report that the threat of tariffs has been an early strategic success resulting in our trading partners agreeing to sit down at the negotiating table and work towards a more equitable relationship with zero tariffs on both sides. Quite a development considering that the EU and others currently penalize U.S. automakers with their own set of tariffs.
For more detailed insight and analyses into the Trump administration’s economic game plan and its’ early results click below to watch my TV interview with economics professor and public policy analyst Dr. Michael Busler.
Watch the video below: