Just hours after a stunning economic report showed a staggering 4.1% growth in GDP, President Trump spoke with Sean Hannity to discuss the robust American recovery; saying “it’s going to get even better” in the coming months as the trade deficit continues to tumble.
The Commander-in-Chief touted the booming economy on ‘The Sean Hannity Show’ Friday; adding the mainstream media is largely ignoring new data that shows a record-setting $52 billion decrease in America’s trade deficit.
“It’s going to get better, it’s totally sustainable, I look forward to next quarter”
“One of the more underreported stories is we now have a trade deficit that dropped by more than $50 billion,” said Hannity.
“You’re right Sean, that’s so important, a $52 billion drop in trade deficits, that hasn’t happened for decades… It’s going to get better, it’s totally sustainable, I look forward to next quarter,” said the President.
“We have countries out there who charge us a 100% tariff or tax and we charge them nothing for the same product coming into our country… Yet when I say we’re going to tax them everyone goes crazy and says it’s not free trade,” he added.
“They can do it, but we can’t? Those days are over […] If we can straighten out trade we can pick up a lot of points on GDP,” said the Commander-in-Chief.
Listen to the President’s comments above.
AMERICA UNLEASHED: GDP GROWTH Tops 4.1% in SECOND QUARTER
The US economy continued to roar to life in the second quarter of 2018 with GDP growth topping a whopping 4.1%; signaling a robust recovery under President Trump and the GOP-controlled Congress.
According to CNBC, Gross Domestic Product posted its largest gains in over four years on the back of strong consumer confidence and record-breaking business growth and optimism following the Republican-sponsored tax cuts.
“That’s the fastest rate of the growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent,” writes CNBC.
“We’re on track to hit the highest annual growth rate in over 13 years,” said the President. “And I will say this right now and I will say it strongly, as the deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers.”
Read the full report here.
GREAT AGAIN: GDP Estimates SOAR TO 4.8% in SECOND QUARTER
The US economy continues to roar to life under President Trump and the GOP-controlled Congress, with the Atlanta Federal Reserve raising the economic estimates for the second quarter of 2018 up to a staggering 4.8%.
According to Reuters, the US Gross Domestic Product is growing at an annualized rate of nearly 5%, citing strong domestic sales numbers and record-setting exports after months of continued growth.
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.8 percent on June 14, up from 4.6 percent on June 8,” says a new report from the Federal Reserve Bank of Atlanta.
The staggering statistics come on the heels of record breaking tax revenue and an inverted job index for the first time in US history, where there are more jobs available than workers to fill them.