Tax cuts boost the economy. Who knew? The American economy is booming, as figures released today show US GDP grew by a scorching 4.1% in 2017. Employment rates are the best they have been for decades, black and hispanic employment rates are the best they have been in decades. Each percentage point is equivalent to three trillion dollars, and ten million jobs.*
Before his election, ‘experts’ predicted precisely the opposite.
- Moody’s said Trump’s policies would cause a “3.5 million lost jobs” and a “lengthy recession“.
- Billionaire Mark Cuban said he had “no doubt in [his] mind” that the stock market would “tank“.
- Citigroup said Trump winning could herald a “global recession“.
- Former US Treasury Secretary Larry Summers predicted a “protracted recession to begin within 18 months” of a Trump win.
- Forecasting firm Macroeconomic Advisers estimated a stock market crash of 8%.
People in the US will have had enough of experts now. They won’t have had enough of Trump in 2020…