ROARING: GDP Climbs Above 4 Percent Under Trump

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Posted: Jul 27, 2018 9:00 AM
ROARING: GDP Climbs Above 4 Percent Under Trump

The economy under President Trump is roaring and fresh GDP numbers prove it. 

According to data released by the Commerce Department Friday morning, U.S. GDP has climbed to 4.1 percent, finally breaking through years of Obama administration stagnation.

"Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018, according to the 'advance' estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent," the Commerce Department released. "The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased."

On the 2016 campaign trail, Trump vowed to bring the economy back to at least four percent growth. Today, that promise has been kept.

Earlier this week, Trump predicted during a workforce development round table at Northeast Iowa Community College that big numbers would be announced today.

"On Friday, the numbers come out, and I don’t know what they are, but there are predictions from 3.8 to 5.3 [percent].  And if somebody would have said that when I was running, if I would have ever even thought that -- you know I've been saying -- frankly, I've been saying we're going to do awfully well, but nobody thought we were going to be this great.  We've already hit 3.2 percent," Trump said. "When I took over, those numbers were bad, and they were heading in the wrong direction because of regulation.  Really, the taxes were too high. People were leaving the country.  Companies were leaving the country.  Jobs were -- forget it, they were really being abandoned.  And other countries, frankly, were taking advantage of the United States."

Meanwhile, unemployment sits at four percent.