A look back at the predictions by economists about growth during the Obama years truly shows how deluded they were in their thought.
From Daily Caller:
White House economists overestimated annual economic growth by about 80 percent on average for a six year stretch during Barack Obama’s presidency, according to Freedom Works economic consultant Stephen Moore.
Economists predicted growth between 3.2 to 4.6 percent for the years 2010 through 2015.
What was the actual growth?
Anemic, never getting over 2.6.
Moore decried the Obama/Keynesian approach.
“Why does anyone bother to listen to economists anymore?” Moore writes in The Washington Times. “Almost all of the economics profession … bought into the Keynesian idea that what would revive the economy after the Great Recession of 2008-09 was massive government spending ‘stimulus.’ The trillions of dollars of government borrowing here and abroad created a decade-long anemic recovery.”
And yet they were completely wrong, instead stunting growth.
“For much of America this has been a long recession, not a long recovery. We are suffering from a severe growth deficit,” Moore writes. “Nearly every policy during the Obama years was anti-growth … If Mr. Trump is able to to shift those policies into reverse — especially by getting tax rates down, not up — 3 to 4 percent growth is easily achievable.”
And this is what the media fails to see in the appeal of Trump.
That many people believe he understands the economy and business from pratical experience, not from failed theory.
That he will take off the restrictions and allow for true growth that will allow the economy to rebound.
They’re not looking at false media narratives about Russia or anything else.
They’re looking at will he be helping them put money in their pockets to support themselves….
Source: Young Conservative