RUSH: During the Obama Regime, liberals came up with all kinds of creative ways to explain away the pathetic economy.
They told us the traditional business cycle was over, and that anemic growth was “the new normal.” They celebrated the supposed joys of “funemployment.” Obama himself declared that certain jobs were never coming back.
That’s wrong. Today, consumer confidence is at a 17-year high. Unemployment is low, the markets are soaring, and economic growth is beating all expectations.
But not everybody is happy about it. In Sunday’s Washington Post, columnist Robert Samuelson warns us to “beware” an economic boom. “We don’t need an economic boom, but that’s what we may be getting,” he writes. He says since the election of Donald Trump, the stock market is up almost 24 percent, and the 4.1 percent unemployment rate is the lowest in 17 years. We have back-to-back quarters of 3 percent economic growth. All of that is not good.
Samuelson argues that long stretches of good times can become self-destructive. People – consumers, business owners, managers, bankers, investors, entrepreneurs – become sloppy, overconfident and complacent. He predicts the bigger the economic boom, the bigger the bust will be that follows.
We have an entire generation of Americans who don’t even know what it’s like to live in a boom economy. We finally have one. They deserve to find out. And the left is telling us we don’t deserve it because it’s only going to mean bad times ahead. What a bunch of punks.