Trump 4 percent gdp

Larry Kudlow, the newly appointed Director of the National Economic Council, said Thursday that U.S. gross domestic product could reach 5 percent, at least for some time. "Will we get 5 percent forever? No. But there's a catch up here," Kudlow told Fox Business Network.  "Any economist will show you the long-term trend line for GDP versus the actual now: We're like several trillion dollars below where we should be based on the long-term trend lines. I want to get back to that full potential." He added that President Donald Trump will keep his focus on the economy by continuing to push tax policy and repeal regulations. "President Trump is saying America is open for business," Kudlow continued. "Animal spirits have already started to jump under this president and his policies and therefore I hope for more of the same." He then blasted "prior presidents" for their business views. "Making fun of investors? ... Let's attack rich people? Those days are over," he added. "I want to … [Read more...] about Kudlow Predicts 5 Percent GDP Growth

Stoltenberg, who is a former Norwegian prime minister and not German, told Trump that allies traded with Russia even during the Cold War, the Post reported.In recent days, Trump has complained about a perceived lack of defense spending on the part of NATO members other than the U.S., using figures that don't always add up.In a tweet Tuesday, Trump said, "Many countries in NATO, which we are expected to defend, are not only short of their current commitment of 2% (which is low), but are also delinquent for many years in payments that have not been made. Will they reimburse the U.S.?"But no such debt exists, according to the AP.In 2014, before Trump was president, NATO members agreed to stop cutting their military budgets and set a goal of moving "toward" spending 2 percent of their gross domestic product on their own defense by 2024. It was not a "commitment" or a payment owed to the U.S., and not something that alliance members pledged to achieve immediately. Trump is correct that … [Read more...] about Trump blasts Germany, says it’s under Russia’s thumb ahead of meeting with Merkel

In an interview with The Sun in England, President Donald Trump claimed “the GDP since I’ve taken over has doubled and tripled.” It hasn’t. Not even close. Trump’s false claim was made to support his argument that the U.S. shoulders an increasing amount of the burden for NATO because the country’s GDP is rapidly rising, making its contributions to defense relative to other NATO allies even more unfair. In addition to the GDP claim being wildly off, his entire premise is muddled. For starters, a rising GDP has no effect on how much the country spends on defense. Before we unravel all this, though, here are Trump’s comments, first at a press conference in Brussels after the NATO summit: Speaking to reporters, President Donald Trump said Thursday after a two-day NATO summit in Brussels that it would be "unnecessary" for the U.S. to withdraw from NATO because his allies agreed to boost their military spending. (Published Thursday, July 12, 2018) … [Read more...] about Fact Check: Trump Inflates GDP Growth

WASHINGTON -- President Donald Trump is prematurely claiming he proved naysayers wrong in boosting U.S. economic growth. Speaking at events Thursday in Iowa and Illinois, Trump claimed victory in advance of Friday's government release of quarterly gross domestic product data, saying "nobody thought we were going to be this good" and that when he became president, "those numbers were bad." In fact, the skepticism from economists has centered more on whether strong GDP growth would be sustainable after a few quarters. That question has yet to be answered; it's not unusual for the economy to surge forward temporarily.Trump also falsely repeated a claim that the U.S. economy is the best "we've ever had" and incorrectly asserted that Canada's trade market is "totally closed."A look at the claims:TRUMP: "We're having the best economy we've ever had in the history of our country." -- remarks in Granite City, Illinois.THE FACTS: Even allowing for some Trumpian exaggeration, this overstates … [Read more...] about Fact check: Trump in Illinois skews claims on economy, GDP growth

President Donald Trump arrives on Air Force One at Morristown Municipal Airport, in Morristown, N.J., Friday, July 20, 2018, en route to Trump National Golf Club in Bedminster, N.J.. (AP Photo/Carolyn Kaster)  (Copyright 2018 The Associated Press. All rights reserved) This week’s Wall Street Journal/NBC poll found 50 percent of those surveyed back President Trump’s handling of the economy.  That number may rise with Friday’s news that U.S. gross domestic product soared in the second quarter of this year by 4.1 percent. That kind of growth makes it almost certain the country will see more than a 3 percent rate economic growth this year -- the first time that’s happened since before the financial crisis of 2008.  That will most likely prompt Trump and other supporters of the 2017 tax cut bill to claim that it ushering in a new era of prosperity. The growth being produced by the tax cut is bringing in more revenues. Dan Clifton of Strategas … [Read more...] about John Fund: Mr. Trump, the GDP number looks great! Now, let’s do this for Trumponomics’ next act