The economists keep being shown to be wrong about Trump job growth
I and I:
...This is another reason for Democrat panic and why they are pushing their coup attempt. Trump's policies of deregulation and lower taxes have dramatically improved the economy and the Democrat candidates to replace him want to reverse these policies.
GDP growth has exceeded the CBO’s forecast in every quarter starting with Q2 2017. That includes the second quarter of this year, which saw 2% growth where the CBO had projected 1.5%.
As a result, the economy is now $590 billion bigger than it was supposed to be.
The CBO projected that unemployment would never get below 4.4%, and would start rising again this year. Instead, the unemployment rate fell from 4% at the start of the year to 3.5%. The current unemployment rate is now a full percentage point below the CBO’s forecast. That translates into 1.6 million more people employed than the CBO expected.
And, where the CBO had forecast a steady decline in the labor force participation rate – which measures what percentage of the working-age population is either employed or looking for a job – it has been climbing. The CBO projected it would go from 62.9% at the end of 2016 to 62.7% in the last quarter.
The actual figure for September was 63.1%.
Oh, and inflation has been running slightly lower than expected – which wasn’t supposed to happen either. A typical headline about the Trump economy was the one in the Wall Street Journal shortly after he won the election, which said, “Inflation and Interest Rates Forecast to Rise Under Trump Presidency.”
If Trump were a Democrat, the news media would be shouting hosannas from every rooftop – instead of braying for Trump’s impeachment.