A Modest Trump Bump

Economic growth in the first quarter was great, but only if you compare it to the Obama years.

Friday's initial government estimate of first-quarter economic growth is bound to prolong the debate over Trumponomics. The 2.3% expansion during the period from January through March was better than expected and better than the standards of the Obama years, but worse than we might have hoped after the growth acceleration of the previous nine months.

The good news is that with new incentives in the tax code, businesses are willing to bet on expansion. The Journal reports:

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