Trump’s Economic Speech Was Great

He also had an interesting economic stat. I think this is a great way of illustrating differences in economic belief, policy, philosophy. You know, we always try to tell people about the Reagan economics, the period of economics the Reagan presidency. It’s been maligned as supply side, trickle-down — and, of course, all economic activity is trickle-down. But the left has done their best to malign it and to say that all it was was tax cuts for the rich.

“And since the rich didn’t give their money away, since the rich weren’t sharing it, there wasn’t any trickle-down, and therefore trickle-down doesn’t work.” It’s one of the greatest distortions in the history of ideology, the history of the news, and the history of politics. Trump said, “Our economic growth under Barack Obama has been pathetic. Had economic growth under Obama been as fast as it was under Reagan, we would have created 10 million jobs in the last eight years.” Now, that’s the way to explain the difference.

If we had economic growth like we can have and like we have had — and we had economic growth specifically due to specific policies: Supply-side, trickle-down, whatever you want to call it. It was basically get the government out of everybody’s life and get the government out of everybody’s way, or as much as you can. We had job growth creation out the wazoo. Interest rates were coming down. Inflation was coming down. A bunch of things economic gurus said were not possible.

I thought that was a great way of illustrating. Obama’s quarterly growth rate, we haven’t had anything over a point and a half. We haven’t had any more 1.5%, 2% growth in any quarter for eight years now, or seven and a half. So it was a great way to put it, and I was unable to gauge the response that Trump was getting. Remember, it’s the Economic Club of New York.

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