JESSIE JANE: GDP Growth Shows The Trump Economy Is A Serious Problem For Democrats
Economists surveyed from across the country predicted that the U.S. economy would grow by a meager 2.3 percent in the first quarter of 2019. But that prediction was wildly inaccurate as GDP in fact grew by an astounding 3.2 percent, according to a recent announcement from the Bureau of Economic Analysis.
Once again, President Trump has proven the experts wrong and exceeded all expectations. The president’s ‘America first’ policies were predicted to produce a recession, instead, they produced unprecedented economic prosperity. Thanks to the president and his team, the American economy is booming ahead at full speed.
To be sure, it is surprising that any American believes that their economic lot has been better off under President Trump. Driven by Trump derangement syndrome, left-wing pundits and the media have attempted to deceive the public on the positive effects of the president’s economic agenda.
And yet, even Democratic presidential candidates have started to sweat as the 2020 election approaches and the economy is still going strong with President Trump at the helm. One publication even ran a recent piece titled “Dems sweat Trump’s economy,” focused on liberals fretting over how they’ll spin zone away the president’s impressive economic results.
Democrats are right on one thing: they should be afraid because the Trump economic boom isn’t going anymore.
Look no further than the employment levels amongst key groups that have continued to trend in the right direction. Unemployment for women, African Americans, and Hispanics have hit record lows under President Trump. Better yet, the unemployment rate across the board has nearly held or clocked in lower than 4 percent for the past 13 months.
Such low unemployment means businesses have to compete harder for workers. Competition means higher wages and more money in each paycheck. Year-over-year wage growth has held steady or risen above 3 percent for the past eight months, a big win for Americans of all stripes.
Moreover, in addition to higher wages and low unemployment levels, President Trump worked diligently to usher and sign into law the Tax Cuts and Jobs Act, the largest overhaul of the American tax system in a generation.
Reforming our outdated tax system didn’t just mean an easier time with paperwork on Tax Day, but more money in your pocket. Thanks to the tax bill, nearly 80 percent of Americans received a tax cut, a much-needed boost for American families who deserve to keep more of their own paycheck.
The president is also making good on his promise to deliver trade agreements that put American workers first. Last November, President Trump alongside the leaders of Canada and Mexico signed the United States-Mexico-Canada Agreement (USMCA), a replacement for the disastrous North American Free Trade Agreement (NAFTA).
NAFTA may have destroyed manufacturing jobs and facilities, but with the USMCA, President Trump is working to bring them back. Thanks to updates to the rules of origin in the USMCA, more automobiles will be made again in North America.
New production means new jobs, 76,000 in the automotive industry to be exact according to an analysis from the Office of the U.S. Trade Representative. What was that again about those manufacturing jobs that were “never coming back?”
Better yet, an estimated $23 billion in new automotive purchases will be made over a five-year span in addition to $34 billion in new automotive manufacturing investment. More investment on American shores means more jobs for American workers.
Our farmers are set to come out ahead too. Food and agriculture exports are slated to increase by $2.2 billion under the USMCA, due to measures that allow for our farmers to compete on a more leveled playing field.
More broadly, the USMCA is expected to send the already roaring Trump economy into full overdrive. $68.2 billion in new GDP will be realized from the agreement and 176,000 new jobs will be created. That’s trade policy that puts American hardworking Americans first.
While longtime residents of the D.C. swamp may be baffled by President Trump’s achievements, the American people aren’t. Remember, then-candidate Donald Trump promised to deliver an economy that would work for all Americans. And that’s exactly what he’s done. Promises made, promises kept.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of The Daily Caller.