The world of economics can be a bit of a roller coaster, and Scott Besson, the Treasury Secretary, has been taking everybody on quite a ride. According to a lively discussion with Larry Cuddlo on Fox Business, Besson did a great job painting Donald Trump as the ultimate turnaround artist who swooped in just in time post-Obama and Biden. While they left the economy in a stall, Trump was the one to kick things into high gear. And with a little help from the American people, Besson seems confident that they can keep up the momentum.
A big part of this purported economic miracle comes from free enterprise triumphing over what Cuddlo not-so-affectionately calls “big government socialism.” Evidently, Besson’s speech outlined how cutting taxes, trimming regulations, and promoting trade reciprocity have cleared the path for what Cuddlo describes as a booming economy. Immigration also came into play, with a strong stance on deportations supposedly opening up a million new American jobs. Clearly, Besson is juggling quite a lot, from the Iran situation to domestic economic policies.
Meanwhile, factories are popping up like mushrooms after a rainy day. Foreign investment, flowing in from the Middle East, Europe, and Asia, contributes to this growth. Apparently, nobody knows the exact figures, but according to those at Fox, we’re talking trillions of dollars. Seems like Mr. Trump has a particular fondness for factories, and the manufacturing and construction sectors appear to be benefiting from that love. It makes one wonder if these pundits have any time to stop and smell the roses—or, in this case, listen for the hum of industry.
Now, if you listen to the mainstream media, you might not hear the same story. Cuddlo suggests that city-bound, degree-holding journalists are missing out on the economic renaissance happening right under their noses—or perhaps more accurately, just beyond their city limits. They apparently fail to observe the construction booms, ribbon-cutting ceremonies, and generous tax write-offs resulting from Trump’s tax bill. One might say they’re too busy sipping their latte macchiatos to see the 100% depreciation media expensing taking place.
The numbers Cuddlo offers from the Atlanta Federal Reserve are certainly impressive, with GDP growth figures for the quarter meeting sky-high expectations. Manufacturing and construction jobs supposedly haven’t seen these kinds of numbers in decades. But while Fox Business and News are trumpeting this triumphant turnaround, Cuddlo insists this story of economic resurgence is the “greatest story never told.” With President Trump expected to take the podium and spread the good word, it seems it’s up to him to keep echoing this narrative until everyone, including those latte sippers, hears it loud and clear.
