This article originally appeared on Fox News on November 3, 2019.
Democrats and the mainstream media keep underestimating the Trump boom. At this point, it’s beginning to seem more like defensiveness than wishful thinking.
Again and again, the experts get it wrong. Not unlike the political commentators who have been wishfully predicting “the end of Trump” for the past four years, economic naysayers have been telling us that a “Trump recession” is just around the corner. Clearly, it’s not.
Instead of wallowing in the gloom these experts foretold, investors are riding yet another stock market rally prompted by the latest series of expectation-shattering economic data. The numbers show, once again, that the Left’s dire economic predictions are based largely on an irrational disbelief in the strength of President Trump’s leadership — not sound economics.
Following dire predictions of a recession (two consecutive quarters of negative GDP growth), preliminary numbers put third quarter GDP growth at 1.9 percent, 0.3 percentage points higher than the estimate from a Dow Jones poll of economists and roughly on par with growth in the previous quarter.
The biggest factor the experts overlooked was consumer spending, which grew by an impressive 3.9 percent. Ordinary Americans, it seems, have the confidence in the Trump economy that the experts lack.
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