Elder Patriot – President Trump delivered on his campaign promise to unleash the the business community by reducing onerous regulations and taxes. And, just as he knew, the economy responded.
Gross Domestic Product exploded upwards to 4.1% in the quarter just ended. That growth was believed to be unattainable by the president’s detractors who had derided his economic plans since early in his campaign.
A few days ago Trump tweeted that the U.S. has the “best financial numbers on the planet,” and National Economic Council Chairman Larry Kudlow predicted yesterday that Q2 GDP will be “big.”
The combination of tax cuts and regulatory relief provided a much needed shot in the arm for an economy that had been, at best, moribund for the past 10 years.
Trump has already taken aim on increasing the growth rate even further by negotiating better trade deals for our country. The disingenuous financial reporters, who work at the pleasure of multinational corporations, have been deriding Trump’s call for tariffs as potentially damaging to the economy.
The fact is they’re right. But the tariffs that have been strangling American producers have been those imposed by our foreign trade partners. Trump is simply using the threat of equalizing those tariffs as a bargaining chip to eliminate tariffs altogether.
That became evident earlier this week when EU President Jean-Claude Juncker met with President Trump. After their meeting they told members of the media that were gathered in the Rose Garden they had agreed to work towards zero tariffs.
When EU and the United States reach that goal their combined economic strength will create, by far, the strongest economic entity on earth.
China and Russia will be on the outside looking in. And the economic and military security of both entities will be vastly more potent.
Last week the media was trashing Trump for his hardline stance on NATO. In less than two weeks Trump has exposed then as anti-Trump, anti-U.S. trolls.