It’s Not a Trump Boom, It’s an Oil and Gas Boom
The president is right about the strong economy. But his own policies could endanger it.
He’s got some of the best charts.
Photographer: Daniel Acker/Bloomberg
President Donald Trump has gone so far as to suggest that he possesses “a magic wand” capable of producing unexpectedly robust economic growth. I don’t know about a magic wand. But Trump is right about the strong economy: This is a genuine boom. And the greatest threat to it is the president’s policy agenda.
First, give credit where it is due. The strong economy is not merely a continuation of long-term trends, as the president’s critics contend. Before the election, nonpartisan experts were predicting lackluster growth at best, with one estimate suggesting GDP growth of about 1.75 percent until 2025.