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Trump’s Economy Defies Expectations
The Trump economy grew at a stunning annual rate of 3.0 percent in the second quarter of 2025, surpassing expectations and delivering what the White House has called “an absolute blockbuster.”
What’s stunning is that the growth is NOT driven by new government jobs or spending. During the Biden years, the government bragged about economic growth but most of it was due to government expansion and spending.
On the contrary, in Q2, there were 104,000 new private sector jobs and government spending declined slightly.
Unemployment sits at 3.4%, near a historic low, while wage growth has begun to outpace inflation for the first time in nearly three years. Small business optimism is also up, according to the NFIB’s July survey.
Some analysts caution that the full effects of Trump’s tariffs haven’t yet hit, and a slowdown in imports could drag on future growth.
That may be—but for now, the Trump administration can take a victory lap on these encouraging numbers.
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