Trump’s Economy Explodes, GDP Booms At 33.1% Rate In Q3, Shattering Record

President Trump is the right person to bring us out of the recession caused by the China virus & all the lockdowns!

“After its worst quarter in history, the U.S. economy just posted its best quarter in history.

For July, August, and September, the gross domestic product (GDP), which measures total goods and services produced, grew at the record-shattering pace 0f 33.1% on an annualized basis.

The previous post-World War II record was the 16.7% growth in the first quarter of 1950. The new burst came after a 31.4% plunge in the second quarter.

“This record economic growth is absolute validation of President Trump’s policies which create jobs and opportunities for Americans in every corner of the country,” President Donald Trump’s campaign said in a statement. “The President built the world’s best economy once and he’s rapidly doing it again, proving that cutting taxes and reducing regulations and red tape clear the way for American ingenuity and our entrepreneurial spirit to thrive.”

“We have regained more than half of the jobs lost to the global pandemic in less than six months, while it took more than two years to regain half of job losses from a recession while Joe Biden was in charge. President Trump will continue to safely reopen the country, while Biden is the candidate of lockdowns, inviting another economic shutdown which would devastate working people and cause even more health problems above and beyond what the coronavirus has caused,” the campaign said.

The Trump campaign also blasted Trump’s opponent, Democratic nominee Joe Biden, saying he “has been an economic disaster for nearly five decades in Washington, backing disastrous trade deals and putting China’s interests ahead of American workers. Biden’s plans for a $4 trillion tax increase and Green New Deal regulations on every person, business, building, and farm in the nation would kill this recovery while it’s already in full swing. For voters, the choice is simple: It’s a Trump boom versus a Biden depression.”

Larry Kudlow, director of the United States National Economic Council, also lauded the numbers.

“We’ve never had anything remotely close to this,” Kudlow said Thursday on Fox News. “And let me add, this thing was kicking on all cylinders. Automobile production, for example, up over 1,100 percent in the third quarter, big numbers on consumer spending, big numbers on housing, big numbers on capital equipment machinery and manufacturing and so forth.”

Kudlow also said that inventories are depleted, “so inventories are going to be rebuilt. This quarter the momentum is going into the fourth quarter and will go into 2021, assuming policies are good. This is not a one time in fact this is going to go on. It’s a strong, strong recovery. The V shaped concept that I coined a while back, looking pretty good right now.”

The news wasn’t all good. Looking exclusively at the quarterly data, the nation’s GDP grew 7.4% in the third quarter, but it was a 9% decline a second quarter. Also, the economy is 3.5% smaller than it was compared to the end of 2019.

Kudlow said by late this winter or early spring, “we will regain all of the Lost output that we suffered during the terrible pandemic contraction, this past winter, and the first half of the year. So it’s an optimistic view.””

Excerpted from the Daily Wire.

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About Jeff Rainforth 545 Articles
Jeff covers border news in the US and has traveled around the world documenting the border walls of other countries. He embedded with Hong Kong protesters covering their fight for freedom against the Chinese Communist Party, and regularly films inside of riots in Democrat-run cities in the United States. He is also the editor of Right Wing News. Jeff did a special 2nd Amendment project for Navy SEAL Rob O'Neill who killed Bin Laden, and he was the national rally organizer to free Marine Sgt. Tahmooressi from the Mexican prison. He is chairman emeritus of Ross Perot’s Reform Party of California, and a former candidate for governor. He wrote for former war correspondent & Breitbart contributor, Pat Dollard, and headed up his 30 person research team. Mr. Rainforth also wrote for the Wayne Dupree Show. Jeff is a two-time nominee for the prestigious Blog Bash Award for best activism for organizing the national movement to form a select committee on Benghazi, and for his role as the national rally organizer to free Marine Sgt. Andrew Tahmooressi from Mexican imprisonment. Jeff appears in Sgt. Tahmooressi's mother's book, "When Light Prevails."

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