FreedomWorks Statement on Q1 GDP Numbers
WASHINGTON, D.C. — In response to this morning’s report from the Bureau of Economic Analysis that U.S. GDP grew 3.2% in Q1 2019, compared to an expected 2.1%, John Tamny, FreedomWorks Director of the Center for Economic Freedom, commented:
“These Q1 GDP numbers are surely spurred on in part by the pro-growth, investor friendly policies of the Trump Administration. This tells us that the so-called experts in the room are wrong more often than not, owing to the fact we have seen 3.2% Q1 GDP growth instead of the expected 2.1%.
“Still, GDP numbers alone are not an accurate telling of the U.S. economy’s remarkable dynamism. After all, GDP soared during Jimmy Carter’s malaise-ridden presidency, but also during the booms of Ronald Reagan, Bill Clinton, and now Donald Trump.
“What drives down GDP–trade deficits–is a sign of economic health, while what boosts GDP–rising government spending–is a sign of an economy that’s growing slower than it should be. We should analyze what exactly is contributing to today’s robust economic growth, in this case increased levels of economic freedom.”