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Battle overshadows positive economic news for Trump.
Politico White House reporter Gabby Orr on concerns President Trump’s tweets overshadow the positive economic news.
What positive economic news has the Trump administration been able to tout despite the controversy surrounding Baltimore?
In recent news, less attention has been given to the positive economic numbers released by the Trump administration, with focus shifted to the controversial situation in Baltimore. President Trump has been under attack for his recent comments regarding Baltimore being a “disgusting, rat and rodent-infested mess”. The President has defended his comments and a war of words has ensued between him and Baltimore’s Democratic Congressman, Elijah Cummings.
While this battle continues, the Trump administration has been able to tout positive economic news. Despite the ongoing trade war with China and growing signs that the US economy is slowing, the Trump administration reported that the US economic growth was 2.1% in the second quarter, which is better than what many analysts had predicted.
Additionally, the administration claimed that there has been job growth in the last month, with the unemployment rate dropping to 3.7%. These figures suggest positive economic news for the US economy overall.
The President has credited his administration’s tax cuts as the key driving force behind the economic growth. However, many economic experts have pointed out that the tax cuts may have played only a small part in the growth. They have indicated that the surge is due to a combination of factors such as low unemployment rates, robust consumer spending, and steady wage increases.
The White House has also taken full credit for the rise in the stock market, with the S&P 500 up 20% since the election. However, experts have cautioned that the President’s trade policies have not been without consequences. Tariffs on goods have caused prices to go up and hurt the consumer’s purchasing power. This may have negative consequences in the future.
Despite these caveats, the Trump administration’s recent economic numbers have been impressive nevertheless. However, Trump’s behavior has allowed the media to focus on other issues such as the on-going spat with Cummings, overshadowing the positive economic news.
Overall, while there is much to celebrate for the US economy, it is important that the Trump administration continues to work towards a balanced solution to help the US economy prosper while keeping citizens informed about their economic progress.
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