Multiple media outlets were not willing to allow Friday’s impressive 4.1 percent second quarter Gross Domestic Product number to get in the way of their negative narrative about the 45th president.
Both The Washington Post and the The New York Times sought to pre-empt the good report with the same spin: The figure was inflated by President Trump’s trade war.
“U.S. growth probably hit 4.2 percent this spring, but experts say it’s a blip,” The Post headlined.
“Economists say the spike is coming mainly from a fluke: There was an unusually large increase in exports in the spring that probably came because other countries were trying to buy U.S. goods before Trump’s trade war escalated and tariffs kicked in,” according to the paper.
Similarly, The Times reported the 4.1 percent growth rate is not sustainable.
“Several one-time factors — including a surge in exports tied, at least in part, to Mr. Trump’s trade policies — probably combined to pump up growth in the second quarter,” according to the paper. “Those effects won’t last, and economists expect growth to slow in the second half of the year. Pretty much no one outside the White House thinks a growth rate of 4 percent is sustainable in the long term.”
CBS News also sought to rain on Trump’s parade, writing, “GDP growth touted as ‘historic’ by Trump is anything but.” – READ MORE
[divider][/divider]
Hillary Clinton: “Trump’s policies would throw us into a recession, the last thing we need.”
Barack Obama: “What magic wand do you have? And usually, the answer is he doesn’t have an answer.”
Paul Krugman, The New York Times: “So we are very probably looking at a global recession, with no end in sight.”
Mark Cuban, Dallas Mavericks: “In the event Donald wins, I have no doubt in my mind the market tanks.”- READ MORE
[divider][/divider]President Trump, in an interview with Sean Hannity on Friday, told the Fox host that if the trade deficit falls, the United States could see eight or nine percent GDP growth.
“If I cut [the $817 billion trade deficit] in half, right there, we’ll pick up three to four points,” Trump said. “So you can add that to the four or five, and so we’d be at eight or nine [percent GDP growth].”
The president added that economist and liberal commentator Paul Krugman “doesn’t know a thing,” slamming his predictions. – READ MORE
[give_form id=”79809″] [contentcards url=”https://www.westernjournal.com/ct/media-fires-up-the-spin-cycle-as-soon-as-fantastic-economic-numbers-come-out/” target=”_blank”]