President Trump’s campaign manager Brad Parscale joins CBS Margaret Brennan for an interview taped April 9, 2019, which was broadcast today.

President Donald Trump hosts Japanese Prime Minister Shinzo Abe for a round of golf today, while First Lady Melania Trump hosts Madame Akie Abe in DC.

The relationship between the Trump’s and the Abe’s goes back quite a while and is rooted in a genuine friendship.  The president and prime minister are strong competitors on trade and economic policy; however, the competition is founded on respect.

Prime Minister Abe’s economic policies are rooted in the growth process taught by Edwards Demming.  If you follow their professional business ideology, it is easy to see how President Trump and Prime Minister Abe would face-off around a standard of excellence.

When combined the economies of the United States and Japan account for approximately 30 percent of all global gross domestic product.

This is really old-school business stuff.  Each leader, is essentially an economic policy coach for his country; creating strategies and championing growth in a challenge to see who can succeed the most.  They respect each-other, but this is old school. PM Abe isn’t about to concede to a deal where Japanese growth is ceded; however, he will not cheat to achieve success (unlike Xi).  So friendly adversarial negotiations continue.  Good stuff.

Meanwhile First-Lady Melania Trump and Madame Akie Abe toured some of the historic sites in the capital, including the Washington Monument and US National Arboretum.

Tonight President Donald Trump is holding a massive ‘Make America Great Again’ rally in Green Bay, Wisconsin at the Resch Center. President Trump is expected to highlight the U.S. economic growth, jobs and continued success following a first quarter GDP result that exceeded all expectations.

The President will speak at approximately 7:00pm CDT / 8:00pm EDT with ongoing event festivities and speakers earlier.  UPDATE: Video Added

RSBN Livestream Link – Fox News Livestream Link – GST Livestream Link

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In 2015 CTH outlined candidate Trump’s economic positions and how they would impact the economy.  We anticipated that MAGAnomics would be reversing three decades of federal reserve monetary policy. After about a year of analysis, in 2016 CTH presented a theory: “A new Dimension in Modern Economics“.

The theory was based on a likelihood of what would happen if MAGA economic Policy was shifted to favor Main St over Wall St.  One aspect we presented was how Federal Reserve monetary policy would be oddly disconnected from its ability to influence inflation.

Today National Economic Council Director Larry Kudlow appears on CNBC to discuss the latest first quarter GDP growth rate of 3.2% and the status of the U.S. economy.   Kudlow notes the rate of inflation is disconnected from the GDP growth.

CTH 2016[…]  Understanding the distance between the real Main Street economic engine and the false Wall Street economic engine will help all of us to understand the scope of an upcoming economic lag; which, rather remarkably I would add, is a very interesting dynamic.

Think about these engines doing a turn about and beginning a rapid reverse.  GDP can, and in my opinion, will, expand quickly.  However, any interest rate hikes (fiscal policy) intended to cool down that expansion -fearful of inflation- will take a long time to traverse the divide.

Additionally, inflation on durable goods will be insignificant – even as international trade agreements are renegotiated.  Why?  Simply because the originating nations of those products are going to go through the same type of economic detachment described above.  [What the USA previously went through]

Those global manufacturing economies will first respond to any increases in export costs (tariffs etc.), by driving their own productivity higher as an initial offset, in the same manner American workers went through in the past two decades.  The manufacturing enterprise and the financial sector remain focused on the pricing.

♦ Inflation on imported durable goods sold in America, while necessary, will ultimately be minimal during this initial period; and expand more significantly as time progresses and off-shored manufacturing finds less and less ways to be productive.   Over time, durable good prices will increase – but it will come much later. [By that time, U.S. manufacturing will have reestablished position and offset any import pressure.]

♦ Inflation on domestic consumable goods ‘may‘ indeed rise at a faster pace. However, it can be expected that U.S. wage rates will respond faster, naturally faster, than any fiscal policy influence because inflation on fast-turn consumable goods becomes re-coupled to the ability of wage rates to afford them.

The fiscal policy impact lag, caused by the distance between federal fiscal action and the domestic Main Street economy, will now work in our favor.  That is, in favor of the middle-class. (full outline)

The MAGAnomic Tri-fecta: Jobs growing; wages growing; inflation stable.

Low inflation; expanding employment opportunity; low unemployment; and rising wages.

These measures all have a cumulative impact on paycheck-to-paycheck Americans.  Prices for durable goods are stable and wage growth is exceeding inflation.  That means more disposable income in the middle-class…. which, when combined with the increased pay from lower middle-class tax rates, is exactly the intended outcome of MAGAnomics.

This creates a situation where the U.S. consumer can fuel the the U.S. economy while President Trump, Secretary Ross, Secretary Mnuchin and Ambassador Robert Lighthizer utilize the leverage of tariffs, to negotiate better America-First trade deals.

President Trump’s economic policy cabinet is the most effective group of individuals every assembled in modern U.S. history; arguably in all of U.S. history.   The economic policy plans are working exactly as projected; and, in combination with the domestic economic strength, this empowers President Trump’s international engagements with a stunning amount of influence and leverage.

Economic Security is National Security.  We are seeing this multidimensional truth being carried out for the first time in our lifetimes, thanks to a blue-collar billionaire.

Part of the push-back against President Trump is due to the success within this doctrine for domestic and international success.  Politicians and the political apparatus of the administrative state are apoplectic that a long-held economic curtain has been dropped by President Trump and his policy team.

It is this easy.

It is common sense.

We have not had the benefit of this economic success in the past 40 years because corrupt multinational interests were paying and bribing -via lobbyists- politicians and public officials within the administrative state to block independent U.S. wealth.

Wilbur Ross, keepin’ it simple.

♦The Modern Third Dimension in American Economics – HERE

♦The “Fed” Can’t Figure out the New Economics – HERE

♦Proof “America-First” has disconnected Main Street from Wall Street – HERE

♦Treasury Secretary Mnuchin begins creating a Parallel Banking System – HERE

♦How Trump Economic Policy is Interacting With The Stock Market – HERE

♦How Multinationals have Exported U.S. Wealth – HERE

Japanese Prime Minister Shinzo Abe and Madam Akie Abe will be having dinner tonight with President Donald Trump and First Lady to celebrate Melania’s birthday.  The prime minister and the president are close personal friends and will likely play golf tomorrow.

The Trump-Abe relationship existed for many years prior to becoming U.S. President. Their respect for each-other is genuine.  Abe and Trump are competitors on trade and economics and their strategies within that competition are actually fun to watch. The long-standing friendship underpins a very genuine alliance of U.S-Japanese interests.

In advance of the dinner tonight PM Abe and President Trump meet in the Oval Office ahead of a bilateral delegation meeting to discuss trade and regional matters. They also take questions from the media [Video and Transcript Below]

[Transcript] 4:35 P.M. EDT – PRESIDENT TRUMP: Thank you very much. It’s an honor to have my friend, Prime Minister Abe — Japan. We have many things to discuss, including trade, including some of the numbers that just came out this morning. We had a very big number at 3.2 GDP for the first quarter — usually the worst quarter. That also included the little bit of a dispute we had during the quarter. So 3.2 is far above expectation. I guess many people were thinking it would be in the ones, maybe between one and two. And 3.2 is great.

Knowing that first quarter seems to always be the lowest, we’re off to a very good start for the year. If we had the previous administration’s low interest rates and quantitative easing, meaning pouring money into the system, that 3.2 could have been 5. Could have been a lot higher, but it could have been five. So it’s really quite a — I wouldn’t like to say “surprise,” but for a lot of people, it was a big surprise. Very big number.

The Prime Minister just, two moments ago, said to me that “congratulations on your number.” The 3.2 number was even a surprise to Japan.

I just returned from Indiana, the big NRA conference, which was really terrific. And the weather was very rough. They said we might have to circle for an hour. And I said, “I hope you don’t have to do that, because we can’t keep this great gentleman waiting.” And we have the greatest pilots in the world, and we have awfully good equipment in Air Force One, so he landed it beautifully. No problem.

And tonight, the Prime Minister and the great First Lady of Japan will be having dinner with us. We’re celebrating our First Lady’s birthday. It’s her birthday. So I said to Melania, “Would you like to have Mr. and Mrs. Prime Minister and Mrs. Abe join us for your birthday? And she said, “I can’t think of anybody I’d rather have.”

So we’ll be having dinner tonight at the White House. And we’ll be actually, right after this meeting, having our representatives with us in the Oval and then a larger group of representatives in the Cabinet Room. And I think a lot will be accomplished.

We’re talking about a lot on trade. It’s gotten very complex with what’s happened to Brexit and what’s happened with various other trade deals throughout the world. We’re doing very well in our negotiations with China. Some of our people are leaving for China on Monday. And we’re getting there. It could be very interesting. We’ll see. I don’t like to talk about things, and I won’t talk about things because who knows what happens. Lots of strange things can happen for better or worse.

But we are doing very well in those trade negotiations. And actually, we have a very big trade negotiation going on right now with Japan, which is, I would imagine, the primary reason that the Prime Minister is here.

And the other thing we’ll be discussing is trade, as it relates to our two countries. Japan is buying a tremendous amount of military equipment and other equipment from the United States. We make the greatest jet fighters in the world, and missiles and rockets and everything else. We make the best in the world, by far.

And we’ll be discussing that. We’ll be discussing, very strongly, agriculture. Because, as the Prime Minister knows, Japan puts very massive tariffs on agriculture — our agriculture — going for many years, going into Japan. And we want to get rid of those tariffs. Because we don’t tariff their cars, so I think that that will — something we’ll work out. But this should have been done by previous administrations. Many previous administrations. It’s been a long time, but I’m sure we’ll be able to work that out.

And, ultimately, we have a chance to make a very good and long-term trade deal with Japan.

And tomorrow we’ll be very early leaving for a quick round of golf on a beautiful place on the Potomac River. I won’t name the place, but it’s beautiful. And so we’re going to play a quick round of golf.

And then I’m going to Wisconsin tomorrow. And we have a tremendous crowd tomorrow night for a speech and rally, and whatever you want to call it. It’s very big. A lot of people. We had 69,000 people sign up. And I think the arena holds about 10 [thousand]. So it’ll be interesting. But it’s always that way.

And there’s a lot of great spirit in our country. Again, we had some great numbers released this morning. And our country is doing very, very well economically. Doing very well with the military. Our military is being rebuilt — all being built from within. All jobs within the United States. And our country is — they’re very proud right now, what’s happening.

So, thank you very much for being here. And we’re going to have a lot of fun. Thank you.

Please.

PRIME MINISTER ABE: (As interpreted.) So, at the outset, I’d like to express my deep appreciation for the great hospitality that you extended to me, again, here at the White House.

And also, as you mentioned, we are going to celebrate Madam First Lady’s birthday today, together with my wife, Akie. And I do look forward to celebrating this special day with you.

PRESIDENT TRUMP: Thank you.

PRIME MINISTER ABE: (As interpreted.) On the first of May, his Imperial Highness, the Crown Prince, accedes to the Imperial Throne. And Japan will enter a new era named “Reiwa,” under the new emperor.

Under the new era of Reiwa, President Trump and Madam First Lady will be the very first state guests that we will invite. And it is a great pleasure and honor for us to welcome you and Madam First Lady.

And also, this state visit will show, both inside and outside, that still under the new era of Reiwa, the bond between Japan and the United States, under our alliance, will remain unwavering. And also, we will demonstrate our strong commitment to addressing various challenges that we see in the international community.

And also, as you touched on earlier, I would like to congratulate you for your great performance, as well as achievements, namely the 3.2 percent of the GDP growth in the first quarter of this year, as well as the quite — the excellent condition that you see in the job status in the United States.

Since President Trump took office, Japanese business community has additionally announced a total of 23 billion U.S. dollar investment to the United States, which will create 43,000 jobs in the United States.

Japan is ranked number one for its investment to the United States, as well as the number of jobs it creates in the United States.

So in order for us to see further development of the economies of both Japan and the United States, and also realize how those economies, which will become mutually beneficial for both of the nations. I look forward to having a discussion with you also on the trade deal that we’re now negotiating with each other.

With regard to the tariffs on autos, Japan has put no tariffs on American autos. But, in contrast, the United States has put on the 2.5 percent tariff on the Japanese autos. But, in any case, we would like to proceed with the further negotiation that we are now having for that. We’ll see a mutually beneficial outcome for both of our countries.

And also, I’m going to host the G20 Osaka Summit in the month of June this year. And in order for us to bring this summit to a successful conclusion, I would like to reaffirm our close collaboration, as well as partnership, at today’s meeting.

PRESIDENT TRUMP: Good.

PRIME MINISTER ABE: (As interpreted.) And I cannot wait to play another round of golf with you tomorrow.

PRESIDENT TRUMP: Good.

PRIME MINISTER ABE: (As interpreted.) And I hope that certainly tomorrow will be a sunny day.

PRESIDENT TRUMP: And it will be. It will be beautiful. It’s always beautiful.

Well, I want to thank you. The fact is that Japanese car companies are coming in at a level that we haven’t seen in many decades. Toyota is investing $14 billion over a short period of time, and others too. They’re going to Michigan. They’re going to Ohio, Pennsylvania, North Carolina, South Carolina, Kentucky.

We’re going — we’re really getting a lot of business from Japan. I appreciate that. We’re trying to bring some balance to the surplus that they have with the United States for many, many years. But it’ll all work out. It’s all working out. But they’re making the biggest investments they’ve ever made in the United States and, in particular, car companies. They’re really coming in. A lot of that has to do with our new agreements that we’ve been making, and some will have to do with the trade agreement that we’re in the process of making. That should even increase that number. So I very much look forward to discussing that today.

As far as your very big event — and that’s a very big event — and when we were in Japan together, we were talking about it and the invitation was made. And I said, “Gee, I don’t know if I can make it. Let me ask you a question: How big is that event compared to the Superbowl for the Japanese?” And the Prime Minister said, “It’s about 100 times bigger.” (Laughter.) I said, “I’ll be there. If that’s the case, I’ll be there.”

So it really is. It’s many years. Isn’t it 130 some-odd years that it’s happened? It’s a very unusual — it’s a very unusual thing. And you’re talking about reigning through blood for over 3,000 years — the longest in the world. So it’s a very, very big event. And maybe you could explain the event because it’s very exciting, actually.

PRIME MINISTER ABE: (As interpreted.) So, for Japan and the entire Japanese people, having the new Emperor itself means a lot. And this will be a historic event and also a tremendous event for everyone in Japan.

What I would like to underscore here is that we will have the abdication of the living Emperor leading to the succession of the Crown Prince to the Emperor. And this will happen for the first time in approximately 200 years.

And under such a historic situation, and also under the new Emperor, President Trump and Madam First Lady will be the very first state guests. And that is why I do look forward welcoming you to Japan.

PRESIDENT TRUMP: That’s really nice. Well, that’s really nice. And that’s an honor on behalf of our country, not just the First Lady and myself. So we really do look forward to that.

And I think, on a little bit lighter note, we will also be going, perhaps, to a sumo wrestling match. I’ve always found that fascinating. So, in fact, we’re having a trophy made in this country. We’re going to give the trophy to the winner of the championship. So that should be good. And I’m sure the media will like that. But I think something I’ll enjoy very much. So we may very well be doing that. We’ll see what the time is.

But again, Mr. Prime Minister, you’re my friend and I really very much appreciate the visit. And I think we will accomplish a lot. We’ll also be talking about, by the way, North Korea, where we’re working together very closely with others. And I think it’s going pretty well.

Thank you all very much. Thank you.

Q What’s your timeframe for a new Japan trade deal? Is it possible to get it done by May?

PRESIDENT TRUMP: I think it can go quickly. Yeah. I think it can go fairly quickly. Maybe by the time I’m over there. Maybe we sign it over there. But it’s moving along very nicely, and we’ll see what happens.

Q Mr. President, is there a situation where you could see where Don McGahn is charged with perjury? You seem to be contradicting what he is saying.

PRESIDENT TRUMP: Well, I don’t want to talk about that now. We have other things that we’re talking about. But I’ll respond to that question at a later date, okay? Thank you.

Q And just to follow up on your comments early today and last night about — you said there was an attempted coup to topple your presidency.

PRESIDENT TRUMP: Oh, I think absolutely. If you look at — yeah, if you look at —

Q What do you mean by a “coup”? Is it — was there actually a coup?

PRESIDENT TRUMP: If you look at what’s been happening and all of the things you’ve been seeing with the insurance policy statement from two agents that are now gone; if you look at many of the elements of intrigue — and, frankly, we’re going to be seeing a lot over the next couple of weeks, things that a lot of people haven’t seen.

What took place here was a very, very terrible situation. How this whole ridiculous 35-million-dollar unlimited personnel — how this all started, I think you will find of great interest. Most of you know the answer to it anyway. The fair press, the good press, the — really, the people that know what they’re doing or the people that are indeed fair, they know the answer to it.

So we’re going to see. It’s going to be very interesting. But what took place over the last period of almost two years — and really, before that; it was really much before that. In all fairness to Robert Mueller, things happened long before he even started. And what took place is a disgrace to our country and it hurt our country. And a lot of people have been let go. And I don’t mean by mean by me. They’ve been dismissed. They’ve been fired. They’ve left in disgrace. And it really is a sad moment for the country. But I think ultimately it’s going to be very good. It’s going to be a healing factor.

Thank you all very much.

[End Transcript]

 

Earlier today President Trump delivered exceptional remarks during the National Rifle Association 148th Convention, Indiana Convention Center. One very important aspect to point out in this speech is the remarks about the “coup” and “overthrow” were not off-the-cuff additions they were written into the teleprompter:

…”They tried for a coup; didn’t work out so well.” (Applause.) “And I didn’t need a gun for that one, did I? (Laughter.)”  “All was taking place at the highest levels in Washington, D.C. You’ve been watching, you’ve been seeing. You’ve been looking at things that you wouldn’t have believed possible in our country. Corruption at the highest level — a disgrace. Spying, surveillance, trying for an overthrow. And we caught them. We caught them. (Applause.) Who would have thought in our country?”

[Full Transcript] 12:18pm EDT – THE PRESIDENT: Thank you. Thank you. (Applause.) Well, I want to thank Chris and Wayne. I’m thrilled to be here in Indiana with the men and women of the NRA. You are great American patriots. (Applause.)

Chris Cox, Wayne LaPierre, Oliver North — I’ve been following Oliver for a long time. Great guy. Three extraordinary champions for the Second Amendment. And I’m a champion for the Second Amendment and so are you. It’s not going anywhere. (Applause.) It’s under assault. It’s under assault but not when we’re here. Not even close.

I also want to thank our tremendous Vice President and Indiana’s native son. Mike Pence has done a fantastic job. (Applause.)

And we’re grateful to be joined by a number of terrific leaders from the Hoosier State: Governor Eric Holcomb. Where is Eric? You can’t miss Eric. He’s so big. (Applause.) Thank you, Eric. Senator Todd Young, terrific guy. (Applause.) Thank you, Todd. Senator Mike Braun. What a job he’s doing. (Applause.) And Representative Greg Pence — familiar name. Thank you, Greg. (Applause.) Jackie Walorski. Jackie, thank you. (Applause.) Jim Baird and Jim Banks — great representatives. Thank you all very much. (Applause.) Tremendous help. Tremendous.

I also want to recognize Secretary of the Interior David Bernhardt. What a job he’s been doing. David, thank you. Thank you. (Applause.)

A great friend of mine, Kentucky Governor, Matt Bevin. (Applause.) Thank you, Matt.

And the House GOP Whip — a man with more courage than most of us here today. He took some very, very severe shots — you know that — by a madman. And he’s stronger and better. I actually told him backstage, I said, “You’re much more handsome than you were two years ago.” I don’t know what’s going on. And he is. Steve Scalise. A lot of courage. Thank you. (Applause.) Thank you, Steve.

Most importantly, I want to thank all of you, the proud, card-carrying members of the NRA. (Applause.) Every day, you stand up for our God-given rights without exception, without fail, and without apology.

Together, we are fighting for the timeless values that have built and sustained our nation. And our nation is greater today than it has ever been. Stronger, richer. We’re doing better than ever before. We are great Americans. You’re doing a great job. (Applause.) Thank you. Thank you.

We believe in the rule of law. And we will always protect and defend the Constitution of the United States. (Applause.) And there are some people that are running right now; I don’t think they have that number one on their list.

We believe that children should be taught to love our country, honor our history, and always respect our great American flag. (Applause.)

And we believe in the right to self-defense and the right to protect your family, your community, and your loved ones. We believe in the wisdom of our Founders. And we believe in freedom and liberty and the right to keep and bear arms. (Applause.)

We know that faith and family, not government and bureaucracy, are the center of American life. And above all else, we know this: In America, we don’t worship government; we worship God. (Applause.)

Every day of my administration, we are taking power out of Washington, D.C. and returning it to the American people, where it belongs. (Applause.) And you see it now better than ever, with all of the resignations of all of the bad apples. They’re bad apples. They tried for a coup; didn’t work out so well. (Applause.) And I didn’t need a gun for that one, did I? (Laughter.)

All was taking place at the highest levels in Washington, D.C. You’ve been watching, you’ve been seeing. You’ve been looking at things that you wouldn’t have believed possible in our country. Corruption at the highest level — a disgrace. Spying, surveillance, trying for an overthrow. And we caught them. We caught them. (Applause.) Who would have thought in our country?

But it’s called what we all together have done — started two and a half years ago on that great November 8th. That was a great day. Remember that day? (Applause.) Great day. And in a year and a half, we have one called “November 3rd.” It’s November 3rd this time. Get ready to vote. You better. You better get ready to vote. But it’s all called “draining the swamp,” and we are doing it faster than anyone ever thought possible. Very proud of that. (Applause.)

And around the world, America is respected again because we are finally putting America first. Been a long time.

Our economy is now the hottest anywhere on the planet Earth. Just this morning, we learned that the GDP smashed expectations, with the economy growing at an annual rate of 3.2 percent in the first quarter — always the worst quarter for whatever reason. 3.2. (Applause.)

And if we kept the same interest rates and the same quantitative easing that the previous administration had, that 3.2 would have been much higher than that. But they hadn’t hit these numbers in 16 years.

We had a tremendous increase in inventory investment. You know what that means. And — listen to this — a very big increase in net exports. Isn’t it about time? Isn’t that nice? (Applause.)

We’ve added almost 6 million jobs since my election. And if I would have said that during the campaign, all of those people back there — we call them the “fake news” — they wouldn’t have believed it. They’re fake.

AUDIENCE: Booo —

THE PRESIDENT: They’re fake.

Blue-collar jobs recently grew at the fastest rate in more than three decades. Nearly 5 million Americans have been lifted off of food stamps since our election. (Applause.)

Wages are rising fast, and the lowest-paid workers are making the biggest percentage gains of all. And that’s nice to hear. It’s about time. (Applause.) Unemployment recently achieved its lowest rate in 51 years, and very shortly, it should be its lowest rate in the history of our country. (Applause.)
African American, Asian American, Hispanic American — have reached the lowest levels of unemployment in our history. (Applause.)

America’s future has never been brighter, and yet Democrats have never been angrier, especially now that their “collusion delusion” has been exposed to the world as a complete and total fraud. (Applause.) It’s been the greatest political hoax ever in our country.

Instead of working with us to rebuild our infrastructure, lower drug prices — which, by the way, this year, for the first time in 50 years, drug prices went down. (Applause.) They’re going to go down a lot lower. And instead of working with us to fix our trade deals — which I’m doing without them — and continue creating millions and millions of new jobs, which we’re doing at a level that people have not seen before, that people don’t even believe, Democrats are obsessed with hoaxes, delusions, and witch hunts. It’s what they’re obsessed with. That’s what they want to do. And we can play the game just as well or better than they do. (Applause.)

Far-left radicals in Congress want to take away your voice, your jobs, your rights, and they especially want to take away your guns. You know that. They want to take away your guns. You better get out there and vote. You better get out there and vote. It seems like it’s a long ways away. It’s not.

I was saying to Melania, our great First Lady, whose birthday it is today. Happy birthday, Melania! (Applause.) I remember standing, two and a half years ago, in the same hallway where Abraham Lincoln and so many others have stood. My first night in the White House and I said to Melania — I said, “This is incredible.” And four years seemed so long away.

And now here we are. We’re getting ready to start up the campaign again. Start up the campaign again. (Applause.) I never want to do anything with MAGA because MAGA country and MAGA — “Make America Great Again” has been great, but we’ve really made it great. We’ve made it great. We’ve brought it back.

And we’re thinking about — slogan: “Keep America Great.” Because you have socialists and far-left Democrats that want to destroy everything that we’ve done. Your 401(k)s are going through the roof. Your stock market, since the election, has hit a record high. Almost a hundred different records I’ve broken. Record high.

But everyone is like a genius now. They buy stock and they’re all up. Everybody is benefitting and jobs are benefitting. But it can all be taken away when you start putting the wrong people in office. We’ve cut regulations more than any President in the history our country. And that’s in two years.

In two years, we did more to regulation — (applause) — think of that — than any President in the history of our country. It’s one of the reasons our jobs are booming; one of the reasons the economy is booming. We gave you the largest tax cut in the history of our country. The biggest, ever. (Applause.) And we got ANWR approved. And we got the individual mandate, the absolute worst part of Obamacare, eliminated. Now we’re going for the rest. (Applause.) And we had it done except for one vote. You know what I’m talking about. One vote.

In recent days, leading Democrats have proposed banning new guns and confiscating existing guns from law-abiding citizens. What they don’t tell you is the bad guys aren’t giving up their guns. And you’re not going to be giving up your guns either. (Applause.)

At the same time, House Democrats recently voted against notifying ICE — these brave, great, talented, brilliant patriots — when an illegal alien attempts to buy a gun, which is a felony. Democrats also support sanctuary cities that release thousands of dangerous criminal aliens onto our streets.

In fact, they like the criminal aliens and aliens so much that when we’re forced to release them into our country because of the horrible immigration laws that the Democrats refuse to give us the votes — we need some of their votes to change — we give them as many as they can handle. (Applause.) And they’re not too happy about it, folks. They’re not too happy. They said, “Who came up with that idea?” (Laughter.) They said, “Only Trump could come up with that idea.” (Laughter and applause.) We give them as many as they can handle.

In other words, Democrats want to disarm law-abiding Americans while allowing criminal aliens to operate with impunity. But that will never happen as long as I’m your President. Not even close. (Applause.) I promise to defend the Second Amendment rights of every American, and I always will. I’ll never let you down. (Applause.) Never let you down. I haven’t so far, and I won’t. Because as the famous saying goes, when guns are outlawed, only outlaws will have guns. Very simple. (Applause.)

The Democrats are also working hard to block the wall, but we are building the wall. They’re not happy about it. And we will have over 400 miles of wall built by the end of next year. (Applause.) We’re building a lot of wall, and I want to thank Border Patrol. I want to thank our great military. And I want to thank the Army Corps of Engineers. They’ve been incredible.

And we are doing something that I could do very quickly, and we’re doing it very quickly. But dealing with these people is very, very difficult, if you haven’t noticed, okay? Any politician would’ve given up a long time ago. So we’ll have over 400 miles of wall built by the end of next year. It’s going up rapidly. Rapidly. (Applause.)

We’re also renovating tremendous stretches of wall. We have wall that’s in bad shape but it’s structurally sound. And rather than building new, we renovate it. We make it as good as new, save a lot of money, and we gain a lot of territory. So we have a lot of great things going. A lot of great things going. (Applause.)

Most importantly, Democrats must change our immigration laws right now. Right now. We can do it in — I used to say 45 minutes. We can do it in 15 minutes. It’s very simple. You know the programs; they’re horrible. The asylum — where rough, tough MS-13 gang members come in. You don’t want to meet with these people, but ICE doesn’t mind because ICE is throwing them out of our country by the thousands. And the Democrats want to eliminate ICE. Can you believe that? (Applause.) Boy, oh, boy.

But it’s incredible what they’ve done. It’s incredible what we’ve done. But they stand there — asylum — and they read a statement, “I am afraid for my life. I am afraid to go back to my country. I want to be an American!” And you look and you see a toughness that you don’t see. And you just see what happens with the mayor of Tijuana and others.

They say, “These people, we try and help them, and they start hitting us. They start punching us.” We don’t want them in our country, and they’re not getting into our country. And when they have in the past — a lot of them have come in — we’re throwing them the hell out. They’re out. We’re getting them out. (Applause.)

But we can fix the problem so easy. And when we fix the problem — the wall is one thing. And that will have an incredible impact. But they won’t even be coming up if we change our old, broken, ridiculous, weak immigration laws. They won’t even be coming up. They won’t make the journey. The wall is still good to have. We need the wall.

But all of those people you see coming up — thousands and thousands of people — they won’t be coming because they’re going to say, “There’s no way we can get into the United States anymore, except by going through legal channels.” And what we want is we want people. We need them for all of the great companies that are coming in. But people have to come into our country legally and through merit. Through merit. (Applause.)

One of the gravest threats to the Second Amendment, and to American freedom itself, are activist judges. You see it every day. Every day. They almost always file in a certain little jurisdiction; I won’t tell you what it is, but you all know. Every time we get sued on the ban, which we ended up winning — you know, we have the ban. We lost in the Ninth Circuit; we shouldn’t have. We lost in the Ninth Circuit Court of Appeals, which we shouldn’t have. And we won at the United States Supreme Court. So we have the ban. Travel ban.

But the reporters — the other day, some reporter said, “Donald Trump, who lost the travel ban…” I didn’t lose it. Well, what he meant: I lost it in the Ninth Circuit. But he didn’t say we won at the United States Supreme Court. So everybody said, “Oh, that’s too bad. He lost the…” No, no. We won the travel ban in the United States Supreme Court. (Applause.) But they don’t say that.

So when we confronted them, they said, “No, we were referring to the lower courts.” I said, “What about the upper court? They ruled. It’s done.” “Well, we weren’t talking about the Supreme Court. We were saying you lost…” These are very, very dishonest people, okay? (Applause.)

AUDIENCE: Booo —

THE PRESIDENT: Nobody gets it. Why? They’re opposed to strong military. They’re opposed to all of the things we’ve done, including making our nation wealthy, including high GDPs, including all of the security and all of the law enforcement, all of the things we’re doing. It’s incredible. Nobody understands it.

Someday, we’re going to figure it out, and I’ll feel much better about it. But why are they opposed to things that truly make our country great? Why? Nobody gets it. I don’t get it. The level of dishonesty and corruption in the media is unbelievable. (Applause.)

But we’re stuck with activist judges who seek to rewrite our Constitution to force their own radical views onto our country.  That is why my administration has led a historic effort to confirm fair and impartial and mostly conservative judges who will interpret the Constitution as written. (Applause.) And I’m very proud to announce that we will soon have 145 federal judges confirmed — a record number — including two great Supreme Court judges — (applause) — Justice Gorsuch, Justice Kavanaugh. (Applause.) Two fantastic justices.

In fact, next week, we will confirm our 100th federal judge. Nobody knows what that means. The percentage is incredible. Nobody knows what that means. And in the end, I expect to have the second-highest percentage of judges confirmed in the history of the United States — more than any other President, except one — I’ll never beat this one — percentage of judges approved. You know who the one is? Take a guess. George Washington. He gets 100 percent. (Applause.) No, he had 100 percent. He named every one of them. But you know what? We’ll have more of them. George Washington.

But we’re also defending free speech on our college campuses. (Applause.) Last month, I signed an executive order requiring public colleges and universities to respect the First Amendment rights of their students, or risk losing tens of billions of dollars in federal funding. If you don’t want to hear another voice, you don’t get all of this tremendous amount — in some cases, ridiculous amounts of dollars. (Applause.)

And we have shut down the previous administration’s massive abuse of power known as Operation Choke Point. (Applause.) Under this ill-advised program, government bureaucrats discouraged banks from making loans to gun retailers — a backdoor attack on private gun ownership that will never be allowed to happen on my watch. That’s step one, folks. (Applause.) Step one. You know what step two, three, and four is. Step four is: You don’t have guns. You don’t have any way to protect yourself.

Today, I’m proud to announce another historic step to protect your Second Amendment rights. And I didn’t tell Chris and Wayne and Oliver; I didn’t even tell them about it. So they’re listening in this big room someplace, and they’re saying, “I wonder what he’s going to do.” The good thing with me: You never know. (Laughter and applause.) Never know. That’s why we’re making trade deals that are so good for our country.

So, in the last administration, President Obama signed the U.N. Arms Trade Treaty. And in his waning days in office, he sent the treaty to the Senate to begin the ratification process.

This treaty threatened your subjugate — and you know exactly what’s going on here — your rights and your constitutional and international rules and restrictions and regulations.

Under my administration, we will never surrender American sovereignty to anyone. (Applause.) We will never allow foreign bureaucrats to trample on your Second Amendment freedom. And that is why my administration will never ratify the U.N. Arms Trade Treaty. I hope you’re happy. (Applause.)

I’m impressed; I didn’t think too many of you would really know what it is. You what it is? A big, big factor. But I see a couple of very happy faces from the NRA over there.

And I am officially announcing today that the United States will be revoking the effect of America’s signature from this badly misguided agreement. We’re taking our signature back. (Applause.) The United Nations will soon receive a formal notice that America is rejecting this treaty. (Applause.)

As part of this decision, I will sign right now, in front of a lot of witnesses — a lot — (applause) — it’s a lot of witnesses — a message asking the Senate to discontinue the treaty ratification process and to return the now-rejected treaty right back to me, in the Oval Office, where I will dispose of it. (Applause.)

By taking these actions, we are reaffirming that American liberty is sacred and that American citizens live by American laws, not the laws of foreign countries. Thank you. (Applause.)

[The President holds up document.]

They all want the pen. Can you believe these people? (Laughter.) Should I give it to them?

AUDIENCE: Yeah!

THE PRESIDENT: Famous pen.

As we protect gun rights for law-abiding citizens, we are also getting guns out of the hands of violent criminals.

When I took office two years ago, one of my highest priorities was to reduce violent crime. In the two years before my inauguration, the murder rate had increased by more than 20 percent, and the United States had experienced the largest increase in violent crime in over 25 years.

For this reason, my administration resurrected Project Safe Neighborhoods, bringing together prosecutors, police, sheriffs, and citizens groups to put the most dangerous offenders behind bars.

We funded 200 new violent crime prosecutors. We charged a record number of criminal offenders. And last year, we prosecuted the most violent criminals ever in our history.

And now, violent crime is way down. Murders in America’s largest cities dropped by 6 percent between 2017 and 2018. But I do have to ask you: What the hell is going on in Chicago? What is going on? (Applause.) We could solve that problem. We would’ve been down even a lot more. And it’s not a tough problem to solve. You got to let law enforcement do what they have to do. They’ll solve the problem very quickly. Very quickly. (Applause.)

We don’t think enough about the victims. They’re too worried about the people that cause the crime. It’s got to stop. That thought process is no good.

The number of police officers shot and killed in the line of duty last year, I’m so happy to report, is down 21 percent compared to the year before. (Applause.) And that was the year before I took office.

One of the reasons is that we are supplying police with surplus military equipment, supplies, and gears that the previous administration refused to give up. This is surplus. This is extra. We don’t need it. Great equipment. Sitting in warehouses all over the country. Billions of dollars of equipment that the military no longer needs or wants or uses, but the top of the line.

Some of it has never been used — brand new — from vehicles to, essentially, supplies of all kind, including bulletproof vests. And rather than having it sit and draw dust, I had it distributed all over the country to our police departments. (Applause.) And that’s why you see these numbers. It’s a great thing.

You know, a lot of being President is common sense, right? Don’t you think? Right? Common sense. (Applause.) Have a good heart, but it’s common sense.

In this administration, we will always stand with the heroes of law enforcement. They’re heroes. (Applause.) They’re brave. They’re great. And they will tell you they haven’t felt so proud of themselves for many years, because they were abandoned by Washington. They were abandoned by our politicians. And not just the Obama administration — before that. They felt abandoned. Well, they know that I love them, and we’re going to protect them just like they protect us. (Applause.) Incredible people. Great people.

We’ve also taken critical steps to improve school safety. More than 30 states now allow teachers that are highly trained — highly trained, talented people — to carry guns in the classroom to protect themselves and to protect their students, who they love. (Applause.) Who’s better? Who’s better? I’ve been calling for that for the last two years, and I think we had a big impact. Some legislation passed, and they don’t have the few paragraphs, and the legislators actually go back to governors and say, “We’re not passing it unless you allow that to happen.” So we’ve come a long way. But who’s better to protect our students than the teachers that love them?

Through STOP School Violence grants, we are helping local schools and police departments to hire more officers, train more teachers, and address early warning signs of mental illness. (Applause.)

Every day, citizens across America exercise their constitutional right to defend themselves, their families, and their communities. That’s a constitutional right. (Applause.) They want to take it away from you. They will take it away. You let these maniacs get into office, they will take that right away. I mean, you see what’s going on. “Let the Boston bomber vote. He should be voting.” Right? I don’t think so. “Let terrorists that are in prison vote.” I don’t think so. Can you believe it? But this is where some of these people are coming from. And they’re the most popular ones.

When Bernie Sanders made certain statements the other day, I said, “Well, that’s the end of his campaign.” Then, what happened is everybody agreed with him. (Laughter.) Or most of them.

We know that the only way to stop a bad guy with a gun is a good guy with a gun. (Applause.) Now, I wanted to be a little bit more original than to use a phrase that you probably heard a thousand times. But what’s a better phrase than that? We can’t do better. How simple is that?

Today, I want to give a few of these brave citizens the chance to share their stories directly with the American people. A lot of television back there. Of course, when I start going after them, you watch those red lights go off. They don’t want any part of it. They turn those lights. Then they come back. They need the ratings. (Laughter and applause.) They come back.

In fact, at a certain point, I think they’ll probably all endorse me, because would they be dead without me? Can you imagine? Can you imagine having some nice, boring person get up here? Well, they wouldn’t be up here. They would be as far away from you as possible. (Applause.)

April Evans joins us from Virginia. One night in 2015, she was home alone with her two-year-old daughter when an intruder broke into her home violently. April took care of it. April, please come up. Please, April. (Applause.)

MS. EVANS: My husband is a police officer and he works night shift. One night, he was at work, and my daughter and I were home alone. Someone started banging so hard on the door it broke in two places. He demanded that I let him in.

I called 911 and I went to my room to get the gun. I heard a loud crash, and when I came out to the hallway to see, he was running towards me with a look in his eyes that I’ll never forget. I shot him twice and I held him at gunpoint until the police arrived. (Applause.)

This event was something that changed my life. I’ve never been more afraid but I’ve been standing strong. And I’ve told my story again and again, because with each person I told, they stood a little taller knowing that if I could protect myself and my family, that they could too.

Protecting my family would not be possible without the right to bear arms. It’s an issue that’s obviously close to my heart. If these rights had been taken from us, I may not be standing here today and I may not have a healthy, now-six-year-old daughter.

I’d like to thank you, Mr. President, for your unapologetic stance on our right to bear arms. I truly believe those rights saved my life and the life of my daughter that night. (Applause.) Thank you.

THE PRESIDENT: Thank you, April. She was able to defend herself.

Also with us is Mark Vaughan, who owns a meat processing plant in Oklahoma. When an employee began attacking coworkers with a knife viciously and violently, Mark drew his gun and ended the assault immediately, saving countless innocent lives. Mark, please come up. (Applause.)

MR. VAUGHAN: Thank you, Mr. President. Welcome all.

I got a call late one Thursday afternoon while I sitting at my office. A frantic call from our customer service group said an attacker with a knife was victimizing people in our office. I ran to my vehicle, ran the 100 yards to the other end of our complex. It was a very chaotic scene: screaming, crying, blood everywhere. I immediately entered the building, ran down a hall — I immediately entered a building, ran down a hallway, and saw a man attacking a woman in the neck and head with a large knife.

I yelled. He stopped, paused for a moment, and ran at full speed toward me. At about 18 feet, I fired three rounds from my AR-15 Carbine — (applause) — immediately incapacitating the subject.

He was a determined attacker. Unbeknownst to me, moments before, he had decapitated a coworker and had targeted several others in our operation to be attacked that day. I was able to take that action because I had a gun and I was prepared to use it. These are central missions of the NRA. And I thank you, NRA, for that, and everyone here. (Applause.)

We have but one true thing — one true mission before us today, and that’s to come together like we never have before to preserve our foundational freedom to bear arms in the defense of ourselves, those we love, those we seek to protect, and most importantly, our liberty.

Lastly, I’d like to express gratitude. No other President in our lifetime has stood with us so strongly in defense of our Second Amendment rights. Thank you, Mr. President. (Applause.)

THE PRESIDENT: Thank you, Mark. I appreciate that. Thank you very much. Great job. Thank you.

Finally, Stephen Willeford joins us from Sutherland Springs, Texas — great state of Texas — (applause) — where a mass shooter opened fire at the First Baptist Church — you all read about it — in November 2017, taking many innocent lives. Wonderful, wonderful people. Stephen heroically risked his life to bring the horrible violence to an end.

Stephen, please come up and say a few words. (Applause.)

MR. WILLEFORD: I would like to thank, first, the NRA for this opportunity, and then I would like to thank our President for this opportunity.

On November 5th, 2017, I was home because I normally started — I was going to start my on-call at the hospital, where I work as an emergency plumber during on-call and could be called lot. So I stayed home from church that day because I wanted to get rest. It wasn’t to happen.

My daughter came into my bedroom and said, “Dad, doesn’t that sound like gunfire to you?” I ran to my window thinking it was someone tapping at the window. And she said, “No, come into the kitchen,” where I immediately said, “It is gunfire.” My daughter was an NRA distinguished expert when she was eight years old. (Applause.) All three of my children — my other daughter and my son — were NRA distinguished experts by the time they were eight years old. I was an NRA instructor.

I ran to my safe, and my daughter ran outside — ran out to her car, got in the car, and ran reconnaissance for me. She ran up to the corner and came back while I was getting a gun out of my safe and loading it.

And she said, “Dad, there’s a man in black tactical gear shooting up the church.” And I said, “Did you call 911?” And she said, “I did. They’re aware of it.” Right away, they told me police were coming but I couldn’t wait.

I couldn’t wait. Our police department in Wilson County has some of the best officers in this world and they were racing as fast as they could, but my community couldn’t wait for them.

I ran out the door and I told my daughter to load another magazine for me because I gave her busy work. I didn’t want her to be there if I failed. And I didn’t want her to be there for a target for him.

The Holy Spirit took over me at that moment. And as I ran across the street, I yelled out. The gunman heard me inside and so did some of the people from the church. So did my own daughter.

He came running out of the church and started shooting at me. I put two shots center mass. He stopped shooting at me and ran to his vehicle. The two shots center mass — he had class III body armor on — they made no difference. But when he ran and turned around his door to his vehicle, I put one in his side and one in his legs.

He got in his vehicle. He put two more shots through the side window. I put one where I perceived his head to be and shot through the window. He took off and ran away down the street, and I’m thinking, “Oh, my God, he’s getting away.” I ran out into the street and took one more shot that went through his back window, penetrated the driver’s side seat, and hit him just right of the left shoulder blade. He continued to run.

I met up with a man that was just parked and watched the whole thing. And everybody in this world would have just driven on. But this is Texas. We are known for our sanity. (Laughter and applause.) I found out later his name is Johnny. And I got in the truck with Johnny and we gave chase. And at the end, the gunman, being the coward that he was, took his own life.

Inside the church were more heroes than we can even talk about in our limited amount of time. But I’m here today to talk about the fact that I used my own AR-15 to confront a shooter that had dropped fifteen 30-round magazines in my church.

He murdered 26 people and injured 20 more. There were only seven people that walked out of that church without a gunshot wound. If it were not for our Second Amendment rights, and the right to carry an AR-15, the same style gun that he had, then I would have been outgunned myself. (Applause.) And if it were not for God covering me and protecting me, I would not have been successful that day.

I want to thank the NRA for being relentless in protecting our Second Amendment rights. And I would like to thank this President for defending the Second Amendment. And I would like to say today, he says, “Make America great again.” And he’s including you. You will make America great again with him. But he needs you. He needs your vote. And if you do not get out there and vote for this man, then it’s on you.

Thank you very much to the NRA and thank you for President Donald Trump. (Applause.)

THE PRESIDENT: Wow, what a job. Thank you. Thank you. Can’t say it better than that.

But I want to thank you all for your courage, because you’re really living proof that law-abiding gun owners make a tremendous, tremendous difference. Tremendous difference.

You know, Paris, France, they say, has the strongest gun laws in the world. And you remember those maniacs, when they went into the nightclub. I use this example. There are many examples. But they shot one person, another person, another person, another person. Hundreds of people dead and horribly wounded to this day. That was five years ago.

If there was one gun being carried by one person on the other side, it very well could have been a whole different result. The shooting went on so long and there wasn’t a thing you could do about it. “Get over here.” Boom. “Get over here.” Boom. And then they left. They were captured later. If there was only one gun. If there were two, three, four, it wouldn’t have happened. Tiny percentage, by comparison. But it probably wouldn’t have happened because the cowards would’ve known there are people in there having guns. Wouldn’t have happened.

So people don’t really understand the other side of the argument. I have the debate a lot, and I win the debate all the time. And the next day, you see the same person who was so badly defeated in the debate going out and saying the same thing, even though he or she, I really believe, know that you can’t justify their side of the argument.

So, gun owners make our communities safer and they make our nation stronger. Americans have always understood this truth, going back to the earliest days of our nation.

Two months before the American Revolution broke out, with the shot heard around the world, a group of patriots gathered along a bridge in Salem, Massachusetts. In the preceding months, British soldiers had confiscated muskets in Boston. You know the story well. Gunpowder was seized in Somerville. And the patriots in Salem knew that the Redcoats would soon come for the town’s cannons.

But the Americans were prepared — they already loved our country — and they were determined to defend their rights to the death. When hundreds of British soldiers arrived at the bridge, the Americans stood firm, blocking their path. When swords were drawn, they didn’t flinch. When the Redcoats tried to steal American boats, the patriots sank those boats and sank them very quickly. When a British soldier held the tip of his bayonet against a man’s chest, that man — Joseph Whicher — tore open his shirt and dared him to do his worst.

Soon, the crowd grew larger, as civilians came from miles around to stand side by side with their great countrymen against tyranny. In the face of such unbreakable resolve, the King’s soldiers had no choice but to admit defeat and failure and retreat.

In the courageous actions of those early Americans, we see the defiant and determined spirit of patriotism that has always willed America to its greatest victories. It is a spirit that is passed down from generation to generation, from fathers and mothers to sons and daughters. It is the spirit that lives in each and every one of you.

Our duty, our responsibility, our sacred charge, is to preserve the freedoms that our ancestors gave their very lives to secure. Because no matter how many centuries go by, no matter how much the world changes, the central drama of human history remains the same.

On one side are those who seek power, control, and domination. And on the other side are patriots like those in this hall who stand upright and plant their feet in eternal defense of our liberty.

And with God as our witness, we swear today that we will defend our rights, we will safeguard our freedoms, we will uphold our heritage, we will protect our Constitution, and we will make America stronger, prouder, safer, and greater than ever, ever, ever before! (Applause.)

To all of our incredible friends at the NRA: Thank you for fighting the good fight. It is an honor to fight by your side, and it’s an honor to be with everyone in this giant hall today. I am with you. I will never, ever let you down.

Thank you. God bless you. And God bless the United States of America. Thank you. Thank you. (Applause.)

[End Transcript]

 

President Donald Trump: “The GDP numbers were just announced and they were far higher than even the high expectation. There were many people who thought it would less than 2, and they were at 3.2.”

“Inflation numbers are very low. The gasoline prices are coming down. I called up OPEC. I said, “You got to bring them down. You got to bring them down.” And gasoline is coming down. We’re doing great.”

“GDP is an incredible number. But remember this: Not only that, we have a great growth — which is growth. We have great growth and also very, very low inflation. Our economy is doing great. Number one in the world. We’re number-one economy right now in the world and it’s not even close.  So thank you very much.”

Kevin Hassett: As discussed in the 2019 Economic Report of the President, the Council of Economic Advisers demonstrated that the strong economic performance in 2017 and 2018 was not merely a continuation of trends already under way during the preceding post-recession expansion, but rather constituted a distinct break from trend and positive surprise relative to expectations. We see in today’s advance estimate of real GDP growth in the first quarter of 2019 that the economy continues to outperform expectations.

As shown in the figure below, in their final longer-term forecasts before the November 2016 election, the Congressional Budget Office and the Federal Open Market Committee on average projected four-quarter real GDP growth in 2017, 2018, and 2019 of 2.2, 2.0, and 1.7 percent, respectively.

In actuality, real GDP grew 2.5 percent in 2017, 3.0 percent in 2018, and in the first quarter of 2019 grew at an annualized rate of 3.2 percent.

Moreover, we consider the 2019:Q1 advance estimate likely underestimates the current pace of economic growth in the United States for two reasons. First, as shown in the following table, in recent years estimates of real GDP growth in the first quarter of a calendar year have on average been below growth during the subsequent three quarters.

Indeed, over the past 25 years, the Q1 estimate has, on average, been 0.9 percentage point lower than the average of Q2, Q3, and Q4 estimates. This suggests there may be some lingering seasonality in the official estimates of first-quarter real GDP growth.

Second, the Bureau of Economic Analysis (BEA) now estimates that the partial government shutdown in 2019:Q1 lowered the overall growth rate of real GDP by 0.3 percentage point at an annual rate.

In their technical note, the BEA states that “the full effects of the partial federal government shutdown on the first quarter estimates cannot be quantified because they are embedded in the regular source data that underlie the estimates and cannot be separately identified.”

In the absence of residual seasonality and the government shutdown, real GDP growth in the first quarter of this year might have been up to 1.2 percentage points higher, implying an annualized growth rates of 4.4 percent.

Chopper pressers are the best pressers.  President Donald Trump delivers impromptu remarks to the media as he departs the White House. [Video and Transcript]

[Transcript] – 9:21am EDT – THE PRESIDENT: So, I’m not allowed to comment on the new GDP numbers until about 10 or 15 minutes from now. So, I will not comment on them.

The country is always doing very well in every respect. I mean, we’re just doing well. We’re knocking it out of the park, as they say. And we’re very happy about that.

We did not pay money for our great Otto. There was no money paid. That was a fake news report that money was paid. I haven’t paid money for any hostage. And I’ve gotten approximately — I think it’s 20 or 21 out. We don’t pay money for hostages. The Otto case was a very unusual case. But I just want to let you know no money was paid for Otto.

Q Mr. President, what did you tell Don McGahn about Mueller?

THE PRESIDENT: I never told Don McGahn to fire Mueller. If I wanted to fire Mueller, I would have done it myself. It’s very simple. I had the right to. And frankly, whether I did or he did, we had the absolute right to fire Mueller.

In the meantime, I didn’t do it. I’m a student of history. I see what you get when you fire people, and it’s not good. But there would have been nothing wrong with firing him. Legally, I had absolute right to fire, but I never told Don McGahn to fire Mueller.

And, by the way — and Mueller finished out his report: no collusion and no obstruction.

Q Mr. President, how do you beat Joe Biden?

THE PRESIDENT: I think we beat him easily.

Q Mr. President, measles cases are increasing. What do you tell parents?

THE PRESIDENT: Speak. Up, up. You got a heli- —

Q What do you tell parents about getting their kids vaccinated?

Q Measles.

THE PRESIDENT: Oh. They have to get the shot. The vaccinations are so important. This is really going around now. They have to get their shot.

Q Mr. President, how old is too old to be President?

THE PRESIDENT: Well, I think that — I just feel like a young man. I’m so young. I can’t believe it. I’m the youngest person. I am a young, vibrant man.

I look at Joe — I don’t know about him. I don’t know.

Q Is he too old?

THE PRESIDENT: I would never say anyone is too old, but I know they’re all making me look very young, both in terms of age and I think in terms of energy. I think you people know that better than anybody.

Yeah.

Q Mr. President, do you still think there were “very fine people on both sides” in Charlottesville?

THE PRESIDENT: Oh, I’ve answered that question. And if you look at what I said, you will see that that question was answered perfectly.

And I was talking about people that went because they felt very strongly about the monument to Robert E. Lee, a great general. Whether you like it or not, he was one of the great generals.

I have spoken to many generals here, right at the White House, and many people thought — of the generals, they think that he was maybe their favorite general.

People were there protesting the taking down of the monument of Robert E. Lee. Everybody knows that.

Q On North Korea, Kim Jong Un has said that he wants Pompeo to not be part of negotiations and that a peace deal depends on the U.S. attitude. What do you think about that? And what’s the prospects for talks with North Korea?

THE PRESIDENT: I think we’re doing very well with North Korea. A lot of progress is being made. I appreciated President Putin’s statement yesterday. He wants to see it done, also.

I think there’s a lot of excitement toward getting a deal done with North Korea. In the meantime, when I came here, there were nuclear tests, missile tests, rocket tests. We got our hostages back. We got remains back, and continue to come back from the war. Our great heroes — the remains. There’s been no tests. There’s been no nothing. So, at some point, you’re going to report the facts.

I have a great relationship with Kim Jong Un. I appreciate that Russia and China is helping us. And China is helping us because I think they want to. They don’t need nuclear weapons right next to their country. But I also think they’re helping us because of the fact that we’re in a trade deal, which, by the way, is going very well.

Q Will you let Don McGahn testify?

THE PRESIDENT: What we’re doing is executive —

Q Did Don McGahn lie to Mueller?

THE PRESIDENT: So what we’re doing — in the history of our country, there has never been a President that’s been more transparent than me or the Trump administration. I let White House Counsel McGahn testify. I let everybody testify. I think McGahn —

Q (Inaudible.)

THE PRESIDENT: Excuse me. I think McGahn was in there for 30 hours. Who ever heard of such a thing? But I said I want everybody to testify. Obviously, McGahn thought he testified fine because he was with the administration for a long time after that. And I think he said he was just joining up with respect to the appointment of judges by the administration. But I let everybody testify. There has never, ever been transparency like this.

So, just so you understand — so we got a great —

Q (Inaudible.)

THE PRESIDENT: Excuse me.

We get the ruling, which I knew we were going to get because I have nothing to do with Russia and the campaign. So we get a ruling: no collusion. We essentially get a ruling — no obstruction — based on the fact our great Attorney General made an immediate decision there was no obstruction. So, we have no collusion, no obstruction. We had total transparency.

We gave 1.4 million documents, if you can believe such a ridiculous thing. Five hundred people testified. We had 18 people that were Trump haters; that includes Mr. Mueller. He was a Trump hater.

Q I’m talking about Congress, Mr. President. Congress.

THE PRESIDENT: And wait a minute. Wait, wait. Wait.

With all of this — with all of this transparency, we finished “no collusion, no obstruction.” Right? Then I get out, the first the day they’re saying, “Let’s do it again.” And I said, “That’s enough.” We got to — we have to run a country. We have a very great country to run.

And, frankly, when I go through it with the House and the Senate and we have no collusion, no collusion, no obstruction, no obstruction. Then we have — again we have to go through it? This is a pure political witch hunt.

We did nothing wrong. And the only thing I did is make our country stronger, give it the numbers like people haven’t seen before. What we’re doing in this country, financially, with the military, with our veterans — if you look at veterans, we now have Veterans Choice. Nobody has ever done what I’ve done in their first two years.

So, if I’m guilty of anything, it’s that I’ve been a great President and the Democrats don’t like it, which is a shame.

I’m going to Indianapolis. We’re going to the NRA, and we look forward to it.

Q How do you beat Biden? How do you do it?

THE PRESIDENT: I would say “easily.”

(End Transcript)

LOL…. By the time Marine One landed at Joint Base Andrews, the GDP numbers were released.  So President Trump did another quick presser on the tarmac. Too funny.

The Bureau of Economic Analysis (BEA) released the first quarter GDP numbers today and far exceeded all forecasts. The rate of growth in the first quarter was measured at 3.2% far above the anticipated 2.5% range; and the annual rate of inflation remains low at 1.7%.

The economy grew at a surprising rate of 3.2% in the first quarter, well above the consensus forecast of 2.5%. Also reported Friday was the latest PCE inflation data for the first quarter, showing core inflation at 1.7% year over year, down from 1.9% in the fourth quarter. (more)

A tale of two contrasting sets of economic priorities. The U.S. economy continues to outpace all economic forecasts.  Recently U.S. retail sales, wage growth and housing starts have exceeded all expectations.  Tomorrows announced U.S. GDP growth is positioned to exceed all previous doomsayer predictions from the professional financial back-bench.

However, the economic results in Canada are going in the opposite direction.  The Bank of Canada cut their GDP forecast from 1.7% to 1.2% today.  A forecast drop of half a percent is a massive drop considering the prior rate of growth was meager at best.

Two full years into the advancement of America-First priorities, the international community is now admitting they can only find growth and value in U.S. investments.

(Via Reuters) […] The [Canadian] central bank now expects economic growth in the first half of 2019 to be lower than anticipated in January, when it released its last monetary policy report, due to a slowdown in Canada’s oil sector, the negative impact of global trade policies and a weaker-than-expected housing sector.

It lowered its gross domestic product (GDP) growth forecast for the year to 1.2 percent from 1.7 percent in January, and said it was monitoring the impact of developments in household spending, oil markets and global trade. (read more)

With the slow-bleed continuing we can expect to see Canada quietly putting pressure on their U.S. liberal counterparts to support the USMCA.  Yes, the irony is delicious.  Ms. Freeland will try to stay under the radar while supporting Trump’s trade construct.

Meanwhile, U.S-China trade talks are due to resume next Tuesday, as negotiators USTR Lighthizer and Secretary Mnuchin head to Beijing with wind in their economic sails….

{{snicker}}