Posted on 07/26/2018 4:31:08 PM PDT by Sub-Driver
Top Trump official tells Republicans to expect blockbuster GDP number Friday
By Alexander Bolton - 07/26/18 06:54 PM EDT
The Trump administration is telling Republican lawmakers to expect blockbuster economic figures Friday morning when the Commerce Department releases data on U.S. gross domestic product (GDP) for the second quarter.
Kevin Hassett, the chairman of the Council of Economic Advisers, told Republican senators in a private meeting Wednesday that GDP for April through June is expected to be high enough to ensure the nation will see its first year of annualized 3 percent growth since the Great Recession of 2008-2009, according to several sources in the room.
“He’s not ruling out a very big number,” said one grinning GOP senator who attended the meeting.
That’s stellar news for Republican lawmakers who are making economic growth under President Trump and the stimulus provided by the 2017 tax cut their main arguments for preserving GOP control of the House and Senate.
The consensus estimate is for second-quarter GDP to come in at 4.2 percent, with some estimates as high as 4.8 percent. The U.S. economy expanded at a 2 percent rate in the first three months of the year, according to the most recent Commerce Department data.
Hassett told GOP lawmakers that Friday’s figure is likely to be strong enough to put this year’s GDP on track to exceed 3 percent, something that never happened under former President Obama and a major Republican criticism of his administration during the 2016 campaign.
“The Atlanta Fed estimated it can be as high as 4.8,” said Sen. David Perdue (R-Ga.). “It’s going to be very strong.”
(Excerpt) Read more at thehill.com ...
Or Mad Maxine could have a new fake death threat, but it could be something more spectacular, who knows.
Tax reform and easing overburdensome regulations rather than continuing an acceleration of more and more regulations works. Tariffs contract economic activity...by definition - otherwise they are not effective. That is their very intended affect...they can be used to get other concessions in exchange for dropping them, but your comment that “tariffs work” as an explanation for this economic report has no foundation in reality.
Another round of fake indictments to bury the positive economic news may be an order.
no wonder the leftist fake stream media is in full bore “sources say” fake news mode today ..
Excellent!
Hoping and praying for a great number tomorrow. Anywhere near 4% would be terrific, anywhere near 5% would be astounding. I am desperate for our GDP growth rate to improve. A strong economy puts Trump in a much better position to be re-elected as the fortunes of presidents rise and fall on the economy.
Spin: Get ready for another mass shooting by a deranged liberal in a gun free zone with a self-loading rifle.
Because of the number cruncher’s hatred of Trump, the number released today will be about 3.75. They want to deny Trump a big victory. Then over the next 6 week they’ll revise upwards to what should have been released.
Or, if they release a 4.5 or higher, Mueller will drop an indictment of Russian businessmen just in time for the evening news so the dems can talk russia i stead of economic victory
3.2 is good, but not blockbuster news like was touted. I’m a little mad because I relied on all the hype and may have lost some money in the short run by investing in dollar currency. But that is not anyone’s fault but mine, part of risk taking.
But I will be really pissed if the Deep State boys tamped down the real numbers and come out later with a “Oh so sorry, we made a mistake” revision.
The Hell it doesn't. It equals better job or bigger pay check. Going from hamburgers to STEAK on the table!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.