On Thursday, the government will announce what will almost surely be the strongest economic growth number in U.S. history. Yet it will do President Trump little, if any, good.
The number will be third-quarter GDP growth. The Federal Reserve Bank of Atlanta, the Chicago Fed, the Conference Board, and Goldman Sachs all estimate it will be between 30% and 35%. Even if the real number is substantially lower, it will still be historic. Such an explosion of economic activity in the world’s largest economy is unprecedented in the history of GDP calculations, which goes back to the Great Depression.
Data like that coming five days before a presidential election ought to be a priceless gift to the incumbent. That’s especially true considering that the economy is by far the No. 1 issue with voters. The latest Gallup poll finds that 89% of registered voters consider it “extremely” … Read More