Yesterday The New York Post posted an article about the impact the election of President Trump has had on the American economy. The article begins by reminding us of the predictions made that if Donald Trump was elected President, he would ruin the American economy. The people making this prediction chose to overlook the fact that President Trump had a reasonable successful record as a businessman.
The article reports:
Foreign tourism to New York City is set to rise 3.6 percent this year — defying yet another of the many doomsday predictions about Donald Trump’s presidency.
Back in February, the city tourism agency said Trump’s “travel ban and related rhetoric” would mean a drop of 300,000 visitors this year. But the NYC & Co. prophecy proved false.
…Of course, other predictions were more dire — particularly those about the stock market.
Finance expert Steve Rattner foresaw “a market crash of historic proportions” under a President Trump. Moody’s warned of a “weaker” economy. Many said 2 percent GDP growth was the best that could be hoped for.
Other doomsayers included Mark Cuban, CNBC’s Andrew Ross Sorkin and firms such as Bridgewater Associates and Macroeconomic Advisers. (A less-dishonorable mention goes to Nobel-winning economist Paul Krugman, who at least walked back his doomsaying about “a global recession, with no end in sight,” soon after election night.)
In fact, the Dow has climbed more than 25 percent since Hillary Clinton conceded. And the first two full quarters of Trump’s term both saw growth of 3 percent or more. Oops.
The article further reminds us that as President, President Trump has followed the Constitution. The article also reminds us that a downturn of the economy is always a possibility, but currently it seems as if President Trump’s business acumen is paying off for the American economy. It would be nice if Congress would clear the way for President Trump’s full economic agenda to go into effect. I have a feeling that all Americans would enjoy the results of that.