Naturally our egomaniacal Twitter-troll-in-chief, who always speaks in exaggerated superlatives, tried to claim that this was the biggest, bestest, greatest economic achievement by any president ever in the history of the world!
Not even close, dumbass. Fact check: Mr. Trump cited a long list of indicators of how well the economy has performed on his watch, some lacking context or foundation. Barack Obama had three quarters besting Trump’s best quarter.
Economists caution that the latest acceleration, while good news for American businesses and households in the short term, is unsustainable in the long term and could raise the risk that the recovery will flame out in the years ahead.
The quarter’s figures were pumped up by a range of one-time factors — including a surge in exports tied, at least in part, to Mr. Trump’s trade policies, as foreign buyers rushed to stock up on American goods before tariffs took effect — that are unlikely to recur. Most forecasters expect growth to cool in the second half of the year — even without factoring in the possibility of a trade war, which corporate executives in recent weeks have cited as a source of uncertainty that could force them to pare hiring and investment plans.