By Tom Quiner
The economy grew an average of just 2% a year under Barack Obama. This was about a point less than our historic post World War II average.
The Left dismissed the anemic results as the “new normal.”
It looks as if the ‘new normal’ is history. Under President Trump, the economy has grown an average of 3% each of the past two quarters. In addition, Standard & Poor’s Dow Jones average has grown 20% since Mr. Trump’s election a year ago.
President has done some very tangible things by undoing job-suppressing economic regulations imposed on our country by President Obama. Every new regulation costs businesses money and increases their risk. Mr. Trump is restoring our country to a more balanced regulatory state, and the economy is responding.
In addition, there is the promise of tax reform, which creates a sense of optimism in the business community. The U.S. has one of the highest corporate tax rates in the industrial world, which has encouraged many companies to flee our shores.
If some decent tax reform happens, we can look forward to more prosperity.
So President Trump’s track record is pretty decent in terms of the economy. As Bill Clinton famously said decades ago, “It’s the economy, Stupid.”
Now if President Trump could stop Tweeting and stop looking so stupid, his highly unfavorable ratings may turnaround and begin to mimic Standard & Poors’.