The 2017-2018 economic recovery

Washington Times ^ | 2/11/18 | Peter J. Ferrara

[markomalley]

Whatever happened to the New Normal? First, Obama Democrats told us that what looked like long-term stagnation under President Obama’s economic policies, with growth stuck at 2 percent on average for his whole eight years in office, was the New Normal that the American people were going to have to get used to, the best we could do now.

That was after the worst recession since the Great Depression, making 10 years of insignificant growth, even though the historical pattern is the worse the recession the stronger the recovery.

Republicans who argued that we could still do much better with 3 percent, even 4 percent growth were derided as out-of-touch, behind-the-times throwbacks.

But as soon as the economy started to peek out into the 3-4 percent range in 2017-18, we were told this was Mr. Obama’s recovery at last. As Steve Forbes suggested, this was like the fired coach of the last place team taking credit for the team’s sudden winning record under the new coach.

(snip)

Mr. Obama’s permanent economic stagnation was on track over the long run to fundamentally transform America as he promised, into a Third World country, like Peru. Democrats seem to prefer that, apparently thinking they could then more easily dominate America as a one-party state.

But that deserves exactly zero credit for the economic recovery from the Great Recession, which took Mr. Trump’s historic surprise victory and fundamental policy course correction, to finally show up in 2017-18. The economy will grow 5 percent to 6 percent for a couple of years, to catch up to where it should be on the long-term GDP growth trendline.

[onona]

Could I hate Obama’s and Democrats more ?

[Redbob]

He’s right on the money, without even mentioning Hussein’s famous remark that “those jobs are gone and never coming back.”

[exDemMom]

Of course you can. You can do just about anything if you put your mind to it. ;)

[CurlyDave]

Just wait until the double plus goodness of tax cut plus regulation reduction really takes effect.

Hopefully in time to influence the midterm elections.

[zeestephen]

Re: “The economy will grow 5 percent to 6 percent for a couple of years, to catch up to where it should be on the long term GDP growth trend line.”

I would be very surprised.

Our current mass immigration policy, which appears to be strongly supported by both Parties, guarantees slow growth because most immigrants have limited job skills, and a majority of immigrant households use at least one government welfare program.

I believe that USA productivity will significantly increase in future years, but only because of labor saving devices, expert software, and Artificial Intelligence.