On Friday, President Donald Trump touted what appeared, on its face, to be vast economic growth.
"Moments ago, the numbers for America’s economic growth -- or GDP -- were just released. And I am thrilled to announce that, in the second quarter of this year, the United States economy grew at the amazing rate of 4.1 percent," the President said this morning.
But on CNN Maya MacGuineas, President of the Committee for a Responsible Federal Budget, pointed out that the economic bump is temporary—and fueled by President Donald Trump's trade war, which may cause long-term damage.
"Just about everybody, possibly with the exception of those in the White House, think that this is a temporary blip," she said.
"It's more of a sugar high story more than the really important question which is 'Can you get sustainable growth?'" she said.
Soybean demand alone saw a jump of 9,400 percent—and the world has not suddenly acquired a taste for the legume.
"It's in anticipation of a trade war," MacGuineas said. "It's not that there's a great new demand for soybeans," she said.
While the President most likely hopes the numbers will give the GOP a boost in the midterms, MacGuineas points out that she doesn't think the positive indicators will last that long.