US Economy Grows at Fastest Back-to-Back Pace in 4 Years

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Saturday, October 27, 2018

US Economy Grows at Fastest Back-to-Back Pace in 4 Years

“The US economy grew at a faster rate than expected in the July-September quarter, according to the Commerce Department’s advance report released on Friday,” Akin Oyedele reports for Business Insider. With 3.5 percent GDP growth for the third quarter, it marks “the economy’s best back-to-back quarters in four years.”
Under President Donald J. Trump, “a healthy job market — with the lowest unemployment rate in 49 years — coupled with strong consumer confidence to support consumer spending, the biggest driver of the US economy.”
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“President Donald Trump outlined a plan Thursday he said would allow Medicare to lower drug prices for its Part B coverage and end this ‘rigged system’ that allows other countries to pay less than the U.S. for the same drugs,” Berkeley Lovelace Jr. reports for CNBC. “For decades, other countries have rigged the system so that American patients are charged much more . . . for the exact same drug,” President Trump said from the Department of Health and Human Services in Washington.

White House Counselor Kellyanne Conway writes that “drug overdoses now claim nearly 200 lives each day . . . Yet in the year since President Donald J. Trump issued a nationwide call to action, and his administration declared a national public health emergency, our results and resolve offer some hope that the worst drug crisis in US history can be slowed, and eventually solved.”

In the Hattiesburg American,, Lici Beveridge writes that during a visit to Mississippi yesterday, Ivanka Trump praised the state’s efforts to improve access to child care. “While there are still issues with access to affordable child care, Mississippi has one of the best records of any other state in the country in terms of infant and early childhood day care,” Ms. Trump said.

“President Trump’s deregulatory agenda has reduced spending on pharmaceuticals by $26 billion since his inauguration,” Kimberly Leonard writes in the  Washington Examiner. According to a new report by the White House Council of Economic Advisers, “government regulations were overly burdensome in getting generic drug applications reviewed for safety and brought to market. They say that having more drugs in the market, especially if they are cheaper generics, can help drive down prices,” Leonard reports.

“First lady Melania Trump marked ‘National Bullying Prevention Month’ on Tuesday by inviting nearly 30 sixth-grade students from the Washington area to attend a screening of the film ‘Wonder’ at the White House,” Ginny Montalbano writes in The Daily Signal. . The film “Wonder” features a young boy who has Treacher Collins syndrome, a condition that causes facial deformities..

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