Booming Economy Under Trump Debunks Obama's 'New Normal' Claim

Patrick Hauf | July 30, 2018
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President Trump campaigned on boosting former President Obama’s stagnant economy and he’s keeping that promise.

The U.S. economy grew 4.1% in the second quarter — the fastest growth since 2014.

Meanwhile, the unemployment rate is at 4%.

The current economy numbers under President Trump contradict Obama's claim that high unemployment and 2% growth are the “new normal.”

The infamous comment came during a “60 minutes” interview in 2010 — and it wasn’t his administration’s only attempt to downplay a struggling economy.

Obama’s former chief economist Larry Summers pushed the idea of “secular stagnation” as a cover-up for the supposed “normal” 2% growth, but the truth is, the economy under Obama lacked growth because of his economic policies.

It’s no coincidence that the economy under Obama could barely grow 2%, while the economy under Trump averaged 3.1% growth in the past six months and 2.8% in the past year.

Obama put regulation after regulation on U.S. businesses, while President Trump claims to have cut 22 regulations for every one created.

The government under Obama raised taxes, while the government under Trump cut them.

A president will never have complete control over the economy — as he or she shouldn't — but every economic policy can have an impact.

Thanks to Trump's sound economic policy, winning is the “new normal."

(Cover Photo: Flickr - Gage Skidmore)