Ross Clark Ross Clark

Trumponomics is working

As Donald Trump makes his State of the Union address this evening his many opponents have an increasingly large problem: the US economy.

Whatever else you might say about the President it is becoming impossible to deny that the economy has done extremely well in the year since he became president. Growth accelerated from 1.5 per cent in 2016 to 2.3 per cent in 2017. Most forecasts for 2018 – for what they are worth – see it leaping to around 3 per cent. This is the sort of growth the developed world had become used to prior to the 2008/09 crisis, but which had eluded it in the decade since. As for the stock market, the Dow Jones is up over 30 per cent

It is possible to argue that Trumponomics is favouring the already-wealthy more than it favours the poor – although the same could be said of the US economy ever since the US had an economy.

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