Posted on 04/24/2018 8:46:48 AM PDT by Olog-hai
The Congressional Budget Office’s budget and economic outlook released this month projects that real Gross Domestic Product will grow by 3.3 percent from the fourth quarter of 2017 to the fourth quarter of 2018.
That would mark a 15-year high.
“In CBO’s projections, real GDP expands by 3.3 percent this year and by 2.4 percent in 2019,” says the CBO report. “It grew by 2.6 percent last year.”
The last time real GDP grew by more than 3.3 percent from the fourth quarter of one year to the fourth quarter of the next was in 2003, when it grew by 4.4 percent, according to the historical data published by the Bureau of Economic Analysis. […]
[CBO Director Keith] Hall testified that the tax law signed by President Donald Trump at the end of last year is stimulating economic growth.
“In our projections, the effects of the 2017 Tax Act on incentives to work, save and invest, raise real potential GDP throughout the 2018 and 2028 period,” he told the committee. “Over the same period, the Tax Act is projected to boost the level of real GDP by an average of 0.7 percent and nonfarm payroll employment by an average of 1.1 million jobs.” …
(Excerpt) Read more at cnsnews.com ...
Trump, you magnificent bastard!!
This is of course thanks to the brilliant Obamunist stimulus package of 2009. /sarc
LOL.
I have heard liberal types, say that Obama planted the seeds for economic growth during his presidency. And that those seeds are sprouting only now.
So then, we are supposed to believe that Obama intentionally presided over economic stagnation, so that the economy would prosper after he left office.
And of course, to the liberal, the economic good news has nothing to do with Trump’s policies or the tax law.
Ask them what those “seeds” are? What policies did Obama implement that would cause this growth? I can name numerous Trump policies that would cause growth.
And wall street goes pfffft.
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