President Trump’s “Impossible” Economy

by Newt Gingrich: Early in his presidency, when Donald Trump said U.S. gross domestic product (GDP) would exceed 3 percent growth, the supposed experts in the mainstream media claimed such growth would most likely be impossible.

In fact, they claimed unemployment would have to reach zero percent and immigration would have to double to meet such a high growth rate (despite the fact that 3.22 percent has been the average GDP growth rate over the last 71 years).

Well, according to the U.S. Department of Commerce on Friday, “real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018.”

It seems President Trump has once again achieved the impossible.

As it turns out, despite refrains from the elites in the media and establishment, the self-made billionaire who now leads our country knows quite a bit about creating a healthy economy. As I explained Friday during a Facebook Live, his massive deregulation effort, his determination to cut taxes on individuals and businesses, and his plan to renegotiate our international trade agreements has started to pay dividends.

Since is first days in office, President Trump has been dogged about cutting red tape and making it easier for American businessowners (small and large) to work, hire people, and ply their trades without having to devote time, money, and attention to government regulators at every turn.

The historic Tax Cuts and Jobs Act, which was a tremendous accomplishment by the White House and the Republican-led Congress, has helped to encourage investments in the United States, allowed American families to keep more of their money, and incentivized American businesses to bring money they earn overseas back to our borders. This is a big part of why our country is becoming twice as productive under President Trump than it was under President Obama.

Finally, despite outcry from virtually every corner of the academic-political-media elite world, President Trump’s tough positions on trade and his willingness to push through criticism to achieve results has started to pay off. For months, the elites have howled as the President has dared to insist that all U.S. trade agreements should be fair and reciprocal (even when they are with our traditional allies). It was anathema for the elites when Trump called out European countries for taking advantage of the United States’ decades-long generosity. They warned his strong stances would cause economic turmoil. Now, the European Union has come out with the President to announce they were working to reach a zero tariff, zero trade barrier agreement with the United States.

Clearly, President Trump’s toughness is paying off and his economic agenda is working. We are creating jobs, the economy is growing, unemployment is at a record low, and the world is starting to accept that it can no longer take advantage of the United States.

However, Republicans can’t get too comfortable. The strong economy alone will not secure the 2018 midterm elections. Democrats will bend over backwards to focus on anything but Republican achievements – and the so-called experts will be more than happy to avoid talking about how wrong they have been.

So, talking about the record-low unemployment rate (including the record-low rates for African Americans and Latinos), the tremendous GDP growth, and the tax cuts should become reflexive for all Republican candidates.

The central question of the 2018 election should be simple, “do you want Americans to continue to be more prosperous, more able to invest in their businesses and families, and have more control over their futures – or do you want to elect Democrats?”
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Newt Gingrich is a former Georgia Congressman and Speaker of the U.S. House. He co-authored and was the chief architect of the "Contract with America" and a major leader in the Republican victory in the 1994 congressional elections. He is noted speaker and writer. The above commentary was shared via Gingrich Productions.

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