During the course of the campaign, Donald Trump repeatedly made a promise that America could return to 4% GDP growth under his leadership..... "We're bringing it (the GDP) from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent" ------------------ Question; What will happen if 2019 GDP growth rate settles at 2.5%, thus, down 1/2 percent from last year? No doubt..... a. Democrats will remind people that Trump sold us a broken promise; b. Trump and his base will blame the Fed Reserve; and c. Independents will say; "Both a. and b. are retarded", due to the fact 2.5% is still a healthy rate of growth. ......according to several economists, and the Fed, the ideal GDP Growth rate is between 2 and 3%. https://www.thebalance.com/what-is-the-ideal-gdp-growth-rate-3306017 https://economistsview.typepad.com/economistsview/2007/01/what_output_gro.html Last, which Presidents of the United States have actually kept all of the promises that they made during their elections?
Personally, I'd rather have slow, steady growth than the boom/bust cycles of higher GDP. We could have 2.5% growth forever and the country would be just fine.
Here in Philadelphia, one of the poorest congressional districts in the country, we just got word that we are losing over 3700 good paying jobs with the loss of the East coasts largest refinery and the closure of Hahnemann Hospital, over the next 3 months.
