Donald J. Trump is damn proud of the Gross Domestic Product report given this week, showing the economy grew at an annual rate of 4.1 percent.
Good news, yes? Sure it is! It’s even great news! But hold on, Mr. President. It ain’t “historic,” as you contend.
And, in fact, the rate of growth might not last, thanks to the trade war the president has launched with, oh, Canada, Mexico, China, the European Union … and maybe even the outer planets of our solar system.
As CBS News is reporting, the president didn’t inherit a “fixer-upper economy.” He took command of an economy in good condition. It has been on an upward spiral for, oh, the past eight years.
However, the president yet again took pains to disparage the growth rate during the Obama administration years. And, as is the norm, the criticism of President Obama’s handling of the economy was incorrect.
As CBS News noted: While Mr. Trump praised the 4.1 percent annual growth rate in the second quarter, the economy exceeded that level four times during the Obama presidency: in 2009, 2011 and twice in 2014.
The latest numbers are quite good. There’s no mistaking it. Are they sustainable? The trade war impact on various economic sectors will reveal that in due course.
In the meantime, the president and his team — who gripe about Trump Derangement Syndrome afflicting their critics — should check their own vital signs to see if they can ever shake their Obama Derangement Syndrome symptoms.