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A recent Wall Street Journal article has surprisingly good news: US companies are seeing the highest profit growth in two years with “two consecutive quarters of double-digit profit growth for the first time since 2011.” This surprisingly comes not from policies pursued in Washington, but the hard work of the private sector.
President Obama presided over one of America’s darkest, anti-capitalist, pro-federal government administrations in decades. The federal expansion of power was at levels only previously seen perhaps since the Great Society of LBJ or the New Deal programs under FDR.
Recently, Larry Kudlow, news anchor and economic commentator, reminded us that in the 1960’s, then-President John F. Kennedy reduced taxes and our economy flourished. According to Kudlow, the economy increased by “roughly 5 percent yearly for nearly eight years.”