Don’t look now, but President Trump’s economy is cruising.
This isn’t conservative bluster. One of the first reports of Trump’s economic growth comes from one of his favorite punching bags: The Washington Post. For the second quarter this year, the economy grew by 3 percent.
I know it’s hard to see it through the constant barrages of childish insults on Twitter, or the distractions going on in Congress. But if you take a step back, you’ll see he has already started to deliver on one of his promises: to make the economy grow by 3 percent a year. That is a feat that was never accomplished during the 8 years of the Obama administration.
It sounds like a moral victory — like when the United States has the highest medal count in the Olympics. Yay! America! 3 percent growth! You get the point.
It’s true you probably won’t see more money in your wallet this week. But, if the economics continue on this path, over the long run not only will you see more money in your paychecks, you could see massive growth in your retirement funds.
You don’t have to like what the president tweets, you don’t even have to agree with him. But, at some point you will have only one person to thank for the fiscal future — and remember where the buck stops.
What does President Trump have to do with economic growth?
Let’s be honest: If you’re looking for reasons the economy grew other than the president, there are plenty of eager left-leaning economists. (They’re about equal to the number of conservative economic experts; even the world of economics is politicized.)
Remember back on Election Day 2016? U.S. stocks tanked for a few days. Leftists cried, “See? The markets hate our choice of POTUS! Goodbye retirements!” On that day, the blame was left at Trump’s feet.
But that lasted all of a week. I’m telling you, this market loves Trump. The Dow has crushed record highs throughout the year. Techs stocks like NVIDIA are soaring.
“Wait a minute! That’s because of Obama,” screams the left. Not exactly.
A fair amount of growth during recovery years for 44 came from government spending. In the last two quarters, the spending from that sector has dwindled. Most of it came at the direction of the current commander-in-chief.
Still, the economy keeps growing. It’s thanks to private sector investing. Businesses are spending on more equipment. They are creating jobs.
Many economists are starting to point, even if begrudgingly, to the pro-business attitude of the White House.
At some point, if you’re going to blame Trump for market drops, you gotta blame him for surges.
Here’s how the benefit comes home to you
Up to this point, you might as well be watching the Donald on the medal stand accepting his 3 percent growth medal. Great. America wins, but what’s in it for me?
There’s a lot in it for you.
A simple gloss-over of economic theory shows what you get: It’s more money.
As the economy grows, if theory bears out, wages will rise. With the stagnant post-recession growth, wages have moved slowly. If the Republican cuts help deliver continuous growth, you will see bigger paychecks.
However, the most immediate place you can see the benefits of Trumponomics is in your retirement portfolio.
Since Election Day, the wealth of all American shareholders has risen $4 trillion.
No, that isn’t just the greedy jerks at the top. Remember those guys also manage your retirement funds. As soon as you’re done with this article, go look at your Fidelity fund or whatever you invested in.
Start back at November 2016 and I guarantee you’ll see a huge jump. Heck, even this poor writer’s piddly retirement fund saw growth.
Whether you voted for him or not, Trump has already given you a gift. It’s a hope for another booming economy to bring us out of the stagnancy of the last eight years. It’s more than a moral victory, it’s an investment in your financial future.
That’s important: If the market trusts Trump, then you will see more money where it counts.
I get it. It’s tough to see positives in Washington these days. So don’t look there. Look at your wallet. You might see a nice medal inside, courtesy of President Trump.
The views and opinions expressed in this article are those of the author(s) and do not necessarily reflect the opinions and/or policies of Debt.com.
Article last modified on December 22, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: The Guru of Growth: Trump Delivers 3 Percent GDP Right Into Your Wallet - AMP.
Article last modified on December 22, 2017. Published by Debt.com, LLC .