The Corner

Economy & Business

4.1 Percent Growth

A few points:

1) While nobody should hang too much on one quarterly number, especially as these numbers are often revised substantially, the story this statistic is telling us about the economy is consistent with every other trend we’ve been seeing.

2) The initial report of 4.1 percent quarterly growth is good news for Republicans, who are crowing the way the party in power always does when it gets a good economic statistic. It’s the best reading we’ve had since 2014.

3) But the party in power back then, the Democrats, did very badly in the congressional elections that year, losing control of the Senate, which is a reminder that the economy isn’t everything.

4) Subscribers can read an article about the strength of the economy — and how much credit Republican policies should get for it — that Michael Strain and I wrote for our new issue. We wrote it before today’s number came out, but aware of the expectation that it would be a good one.

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

Most Popular

White House

Trump’s Disgraceful Endgame

President Trump said the other day that he’d leave office if he loses the vote of the Electoral College on December 14. This is not the kind of assurance presidents of the United States typically need to make, but it was noteworthy given Trump’s disgraceful conduct since losing his bid for reelection to ... Read More
White House

Trump’s Disgraceful Endgame

President Trump said the other day that he’d leave office if he loses the vote of the Electoral College on December 14. This is not the kind of assurance presidents of the United States typically need to make, but it was noteworthy given Trump’s disgraceful conduct since losing his bid for reelection to ... Read More
Elections

Our Conspiracy-Minded Subculture

On the menu today: Attorney General William Barr declares that he and the Department of Justice have found no evidence of widespread vote fraud that could change the outcome of the 2020 election; some Trump fans conclude the attorney general has been a deep-state sleeper all along; and why this country is likely ... Read More
Elections

Our Conspiracy-Minded Subculture

On the menu today: Attorney General William Barr declares that he and the Department of Justice have found no evidence of widespread vote fraud that could change the outcome of the 2020 election; some Trump fans conclude the attorney general has been a deep-state sleeper all along; and why this country is likely ... Read More