President Trump is once again facing the coordinated might of the Swamp, the Democrat Party, the media, and Never Trumpers.
Trump’s opponents thought they could celebrate the bad news that would finally bring down Trump.
But one Fox News star just spoke this one truth that was music to Donald Trump’s ears.
Underlying economic data stronger than first thought
President Trump’s attempt to reorder the global economy and rebalance international trade to revive American manufacturing through reciprocal tariffs is the biggest policy risk of his political career.
If Trump succeeds, his promised “Golden Age” will arrive as companies that produce cars, semiconductors, and pharmaceuticals return their factories to American shores.
Trump’s opponents bet the gamble will bust and that Trump’s tariffs will ignite a second wave of inflation and – at best – a recession.
Democrats, their allies in the press, and Never Trumpers, like those at National Review, cheered the news that the first quarter gross domestic product number (GDP) came in at -0.3%.
Two consecutive quarters of negative economic growth means the country is in a recession and this GDP number meant one more quarter of a contracting economy and that Trump’s opponents would claim Trump destroyed the economy with his tariffs.
At one point, the stock market plummeted 600 points as investors feared the worst
But as Fox News political analyst Brit Hume noted, the market ended the day up more than 100 points as Wall Street dug through the actual numbers and saw greenshoots.
“By the end of the day, it was back up because I think investors began to see the things that you pointed out there, [as] Bret and others were saying, that this is something that may not be repeated in the economy,” Hume stated. “It may be on sounder footing than the original number made it appear.”
Consumer spending in the first quarter of 2025 beat expectations, rising at 1.8%.
Business investment rose 21.9%.
Liberal economist Jason Furman said his preferred measure of GDP growth – “core GDP” which measures consumer spending and private investment – showed the 3% economic growth.
“Real GDP fell at a 0.3% annual rate in Q1. The underlying numbers are very extreme–with an enormous increase in imports and inventories. My preferred measure of ‘core GDP’ a better signal, up at a 3.0% annual rate (see next),” Furman posted on X.
President Trump blamed the first quarter GDP numbers on Biden and promised the American people the economy would quickly improve.
“This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden ‘Overhang.’ This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!” Trump wrote on Truth Social.
The President and his team are counting on announcing a slew of trade deals with India, Japan, and South Korea in the coming days, as well as Congress passing the “one beautiful bill” of tax cuts and deregulation by July 4 to add a jolt to the economy and create the boom time the American people voted for last November.
