Many of the regulations which Trump takes credit for “eliminating” were reversals of recent regulations by Congressional review before they ever took effect. Many if not most of the rest are tied up in court because the Trump admin took shortcuts around the Administrative Procedure Act requirements, along the lines of the Keystone XL which is now dead in the water again because the statutory process wasn’t followed.
This “eliminate 20 for every one” is nonsensical in any case, since it takes a regulation to eliminate a regulation (i.e., the process to eliminate a regulation legally is the same as the process to promulgate one).
No, it was sluggish, low growth. In my area it was at depression levels. It was propped up by trillions from the fed just to do what little it did. Obama understood nothing of the economy as all socialist’s. He ran up the debt to just barely keep the economy from drowning. His excessive red tape & regulations was very detrimental & totalitarian, he’s a control freak as are all socialist’s, & most of his economic policies was detrimental, as are all socialist’s economic idea’s.
We are on track to solid yearly 3% GDP growth. Something Obama could only dream about. He had pretty much stated that that kind of sustained GDP growth was a relic of the past.
We need 3.4% Q4 growth to get 2.95% annual growth (which rounds up to 3% in the report). To get actual 3% annual growth, we need 4.1% in Q4. Most forecasts are tracking at 2.8 or below for Q4. We are most likely not going to hit 3% this year.
My prediction is that we come in around 2.5% for Q4. Which is not terrible considering the negative factors contributing to a general slowing of economic growth. But it will not get us to 3% annualized.
1st quarter 2.2; 2nd quarter 4.2%; 3rd quarter 1st estimate 3.5%; Depending where the 3rd quarter lands, we would need 2.1% in the 4th quarter if the 3rd quarter 3.5% holds.