Friday, July 27, 2018

FLASHBACK: ECONOMIC ‘EXPERTS’ PREDICTED 4-PERCENT GROWTH WOULD NEVER HAPPEN

by Amber Athey

The United States hit its highest economic growth rate in roughly four years on Friday — something many economists predicted would never happen.

Gross domestic product (GDP) grew to a 4.1-percent rate in the second quarter of 2018, compared to just 2.8 percent in the second quarter of 2017.

Meanwhile, CNN ran a headline in October of 2016 claiming, “Donald Trump promises 4-percent growth, but economists say no way,” and the Los Angeles Times ran a column with an even more dire prediction — that Trump was “dreaming” to think he could hit a 3-percent growth rate.

“An aging population and stagnant productivity could put Donald Trump’s goal of 3.5-percent economic growth out of reach,” the Wall Street Journal similarly wrote in December of 2016.

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