The Trump Economy
Heritage Explains
Heritage Podcast Network
4.7 • 847 Ratings
🗓️ 3 August 2018
⏱️ 15 minutes
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| 0:00.0 | From the Heritage Foundation, I'm Tim Desher, and this is Heritage Explains. |
| 0:29.3 | President Trump made some pretty bold campaign statements. |
| 0:36.1 | But one of them received particularly high criticism from the left and high praise from the right. |
| 0:38.2 | And that regards GDP growth. |
| 0:44.9 | That's why I believe it's time to establish a national goal of reaching 4% economic growth. |
| 0:51.4 | And my great economists don't want me to say this, but I think we can do better than that. |
| 1:01.0 | GDP, or gross domestic product product is defined as the market value of all final goods and services produced within a country in a given period. It measures businesses, households, government |
| 1:07.3 | spending, exports, while subtracting our imports or foreign products. |
| 1:13.7 | And while not perfect, it seems a reliable guide as to the general health of the economy. |
| 1:19.5 | But one thing is safe to say, the higher growth, the better Americans are. |
| 1:24.7 | Last Friday, when the Commerce Department announced that GDP grew by 4.1%, the White |
| 1:30.3 | House took a victory lap because many thought this number was almost impossible to reach. |
| 1:35.3 | Now, many on the right are using this to push for more pro-growth policies like tax reform and |
| 1:41.3 | regulation reduction. This is another big Trump win. |
| 1:46.5 | He went to the country, got elected on the slogan, |
| 1:49.1 | make America great again. |
| 1:50.8 | We clearly now do have a great economy. |
| 1:53.8 | The economy is looking up. |
| 1:55.4 | The Commerce Department reporting 4.1% growth in the second quarter. |
| 1:59.5 | It's the best performance we've seen in nearly |
| 2:02.0 | four years, with businesses and consumers spending more. It is sustainable. We've lowered tax rates, |
| 2:08.2 | we've rolled back regulations, we've unleashed energy, we're moving to fix a broken world |
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