The United States just recorded a stunning GDP growth rate — 4.1 per cent.
GDP means gross domestic product. It’s another way of saying how much everyone made economically — goods and services. It shows if factories and stores are busy, if construction is happening.
In recent years — recent decades, really — GDP growth has been just a couple of a percent per year. The only countries that saw high growth — five, six, seven percent, occasionally you see countries near ten percent — are rapidly modernizing, industrializing countries.
In the U.S., GDP has been under five percent for years. Rarely much above three.
Economists mocked Trump when he said he could get it higher.
Well, he just did it. Maybe he really is making America great again.
And our guy? He’s taking another holiday today. More than 20 holidays so far in 2018.
We don’t have a NAFTA deal. We have an immigration border control crisis. We just had a terrorist attack in Toronto. But our man-child is on holidays.
And Canada's GDP hasn’t been above 2 per cent since the 1980s. We had 0.3 per cent growth this quarter.
We’ve banned fracking, pipelines and oilsands expansion. We’ve attacked mines and quarries. We’ve taxed everything that moves, and most things that don’t. Our childish leaders are blathering on about how carbon taxes create jobs.
I don’t know if America’s growth rate will continue at 4.1 per cent. Looks like his deals with places like Europe may actually create a world-wide economic boom. Maybe we’ll get some of the benefits indirectly.
But the opposite might happen, too.
Well, we’ll always have all the “jobs” that come from our carbon tax, won’t we?
TONIGHT'S GUESTS: Manny Montenegrino on NAFTA; and Paige MacPherson, CTF Atlantic Director, talks about Trudeau Liberals threatening PEI with a carbon tax.