WSJ: Economists Credit Trump with Economic Growth

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Economists are finally admitting that the Trump presidency has been good for the economy.

A majority of economists surveyed by the Wall Street Journal say President Donald Trump’s actions and policies have been somewhat or strongly positive for economic growth, job creation, and the stock market. Trump scores the largest number of “strongly positive” reviews for economic growth and the stock market.

Economists are very enthusiastic about the recently enacted tax bill, at least in the short term, with 90 percent saying it would increase economic growth over the next few years. They are more divided on the long-term, where half say the tax cuts will boost the economy’s long-run trend and half saying it would have no effect or slow the economy.

Very few economists believe Trump’s policies and actions have had a negative effect, according to the Wall Street Journal. None or nearly none say he has had a negative effect on economic growth, job creation, or the stockmarket. Only small percentages believe Trump’s policies have had a somewhat negative effect on long-term growth or financial stability.

Around half of the economists surveyed said that Trump’s policies would have a positive effect on the long-term growth potential of the U.S. economy. A sizable percentage said his policies would be neutral for long-term economic growth.

The results of the survey show a marked change since the election of 2016. Prior to the election and even shortly afterward, many economists predicted that the Trump administration would be bad for the stock market and the economy.

A year ago, economists were also pretty down on the Obama administration. More than 60 percent said the administration’s policies had had a somewhat or strongly negative effect on long-term growth. Forty-eight percent said that nearer term economic growth had been negatively impacted by the Obama administration, with just 35 percent saying it had had a positive effect.