The latest government statistics on growth confirmed that, contrary to the claims of many economists, the new Administration has not inherited a “strong” economy. The 1.6 percent GDP for 2016 hardly ranks among our better growth periods and the last eight years have not been much better.
Coming out of the recession, small business owners were greeted with a large tax bill, Obamacare, and a fizzled stimulus package that mostly preserved the jobs of government workers, rather than stimulating economic growth. An avalanche of regulations followed, all through the recovery period. The growth we experienced was definitely in spite of government policy, not because of it. The private sector is stubbornly persistent when it comes to growth, regardless of obstacles.
Source: MARCH 2017 REPORT: SMALL BUSINESS OPTIMISM INDEX – SMALL
BUSINESS OPTIMISM REMAINS NEAR RECORD HIGH [LINK]
Pity that the mainstream media and even economics journalists have no time to understand the psychological damage that ultra-low interest rates (persistently so) and over-regulation can cause or did cause in the United States.