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America's economy grew at its weakest pace since Trump took office
New York (CNN Business)The US economy in 2019 grew at its slowest pace in three years, according to preliminary data from the Commerce Department.
The economy expanded by 2.3% last year, its lowest level since 2016, when growth stood at 1.6%.
The economy under President Donald Trump has been consistently strong but not electric. In its best year, 2018, the economy expanded at a 2.9% clip. In 2017, it grew by 2.4%.
The dropoff in 2019 was because personal consumption and exports fell, according to the Commerce Department.
Critics of Obama said his economy was mediocre because he never had GDP growth at 3% or higher. Neither has Trump, with low unemployment and a trillion dollar deficit that's basically fiscal stimulus.
Trump promised on the campaign trail that he'd bring in 4, 5, and maybe 6% growth. Didn't happen. His tax-cuts were supposed to be the economic miracle to boost growth. It didn't happen. His tariffs were supposed to help exports. Exports fell.
Personally I think 2 - 3 percent is just about right. Too much and you beg for a recession.