Anti-Trumpers Forced To Admit They Were Wrong About Trump’s Economy

Upon the election of President Donald Trump in 2016, several anti-Trumpers claimed that his presidency would be harmful to the United States economy, but nearly a year after he took office, those predictions are being overwhelmingly debunked. One such naysayer, Yahoo Finance writer Rick Newman, insisted that economic gloom and doom would follow Trump’s election last November, but he recently had to eat those words. “There was no Trump recession,” Newman wrote. “Quite the contrary.” The columnist admitted that he was wrong about Trump’s impact on the economy, pointing to several indicators that the election has actually had a positive effect. For example, Newman wrote, economic growth “accelerated modestly” during 2017. Meanwhile, job growth has “continued to improve steadily.” In fact, unemployment under Trump hit 4.1 percent – the lowest level since 2000, CNN reported. However, the biggest financial story of 2017 was the stock market, Newman said, noting that the S&P 500 index was up a “robust” 20 percent for the year. The recent tax cuts passed by Congress should make “Americans feel increasingly confident about their prospects,” he also contended. Even left-leaning media sources have reported that Americans were ending 2017 feeling confident about the economy. Besides a great Christmas season for retailers, in December, consumer confidence hit 122.1 on the Conference Board’s index released Wednesday, according to CNN. That’s only slightly below the 17-year high of 128.6, which was set in November. “Confidence has been fueled by a few factors: The job market, the stock market rally and Republicans’ fiscal reforms,” CNN Money writer Patrick Gillespie wrote. If ever there was a moment for Republicans to give a big, fat “I told you so” to liberals, this is it. And liberal writers are even agreeing.