Recovery is proof according to Adam Mill writing at The Federalist:
While Jesse Kelly is absolutely right that economic failure and socialism are inexorably related, he is not correct that the United States is on an unstoppable path to this oblivion.
Recently, Jesse Kelly wrote a worthy article forecasting the United States’ decline and eventual suffocation in the quicksand of socialism. He correctly notes that as government gets bigger, freedom must get smaller.
Kelly clearly fears a socialist America will follow the failures of Greece, Venezuela, and every other country that has followed a welfare state model to its logical conclusion. While he is absolutely right that economic failure and socialism are inexorably related, he is not correct that the United States is on an unstoppable path to this oblivion.
Take cheer, Kelly: we have reason to be optimistic as a result of President Trump’s brief but dazzling experiment with cutting taxes and regulation. While government is growing, it’s not growing fast enough to crowd-out all freedom. One byproduct of the Trump boom is that economic growth is actually outpacing growth in government spending. The government’s share of gross domestic product has fallen to 38 percent from nearly 44 percent during the dark days of the Great Recession, and is forecasted to continue to decline. This is in line with the Ronald Reagan presidency.
The improving economy has turned millions of welfare recipients into taxpayers. Food stamp participation has declined from 46,500,623 participants in 2014 to 41,513,029 participants today. That’s an astonishing decline in people looking to the federal government for their source of food. Meanwhile, the decline in labor participation has stabilized and even rebounded from 62.3 percent in 2015 to around 62.7 percent today. This is more good news when you consider that baby boomers are retiring en masse and we’re adding to the workforce through immigration and reproduction.
Most promising, however, is the raw GDP growth rate of 4.7 percent. As a basis for comparison, only two years in the vaunted 1980s beat that number. If it happens two or three years in a row, the compound effect will be astonishing.
Read more: The Federalist
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