The United States is 241 years old.
We've had 45 Presidents, two World Wars, a Civil War, a Great Depression, Great Recession and through it all have averaged economic growth of 3.1 percent.
What's changed is stagnancy. The last year for average economic growth was 2005.
That's 11 years.
It's easy to explain why. The economy slowed prior to the Great Depression, then we had the Great Recession and followed with a bunch of government regulations and socialistic economic policies
... None of which was the socializing of healthcare, by the way. The result was highly predictable.
Average economic growth of the previous eight years under the Obama administration's policies =1.5 percent. Less than half of the average growth rate.
"Our country and our economy would be stronger today if House Republicans had held a simple yes-or-no vote." —President Obama #ActOnReform— Barack Obama (@BarackObama) June 30, 2014
Even when you only look at the growth of the post-Great Recession recovery, the rate was still a paltry 1.8 percent.
Trump was mocked and derided by many for asserting a 3 percent growth rate was possible. "Experts" suggested that his budget blueprint couldn't be taken seriously because they included 3 percent growth estimates.
Stock Market at all time high, unemployment at lowest level in years (wages will start going up) and our base has never been stronger!— Donald J. Trump (@realDonaldTrump) July 2, 2017
Well, in just the second quarter of the Trump Admin., after 30+ pieces of legislation repealing Obama-era regulations were passed, in addition to a number of executive orders repealing Obama-era orders... We have 3 percent growth.
That didn't take long.
While many in the media are now eating crow or attempting to ignore the good news at all costs - it's important to note what the real opportunity is here.
Just simply loosening the handcuffs on some industries has brought us quickly to 3 percent growth.
If we were to obtain real follow-through with tax reform, and ultimately healthcare reform, we not only would have the potential to maintain 3 percent growth - we could have considerable upside from 3 percent.