The United States’ gross domestic product increased at an annual rate of 3% in April, May, and June, a turnaround from the first quarter of the year, where GDP decreased at a rate of .5%, but Democrat Senate Leader Chuck Schumer (D-NY) claimed the new numbers are a bad sign.
A report from the Commerce Department finds that the numbers primarily reflect decreases in foreign imports and an increase in consumer spending.
Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick celebrated the news on Wednesday:
Bessent: Real GDP grew 3% in Q2, surpassing expectations.
Consumer spending is up, and inflation is cooling.
This is what an America First economy looks like, and the best is yet to come.
Real GDP grew 3% in Q2, surpassing expectations.
Consumer spending is up, and inflation is cooling.
This is what an America First economy looks like, and the best is yet to come. https://t.co/acV9qyehyO
— Treasury Secretary Scott Bessent (@SecScottBessent) July 30, 2025
Lutnick: GDP just surged to 3% and the Trump Economy has officially arrived. Biden’s first quarter is behind us, and growth is already accelerating. President Trump’s tariff policies have drawn historic investments and opened up global markets for U.S. businesses. Congratulations America: 3 percent today, and we’re just getting started.
GDP just surged to 3% and the Trump Economy has officially arrived. Biden’s first quarter is behind us, and growth is already accelerating. President Trump’s tariff policies have drawn historic investments and opened up global markets for U.S. businesses. Congratulations America:…
— Howard Lutnick (@howardlutnick) July 30, 2025
Schumer on Wednesday cast doom on the numbers, claiming that “ominous numbers lurk under the hood.”
“Donald Trump’s tariffs are weighing down the US economy, spiking costs for small businesses and families alike, and if Donald Trump keeps up the chaos, the dangers for the economy will continue to get worse,” he said.
However, his scripted remarks did not mention the massive success of Trump’s tariffs, which are bringing billions of dollars of new business investment and hundreds of billions of tariff revenues into the United States.
WATCH:
Schumer: And while the Trump administration will try to wave rosy headlines about the Q2 number, today’s GDP number is, in fact, a mirage because some ominous numbers lurk under the hood. Business investment plunged in the second quarter by 3.1%. The fact that business investment plunged so starkly is very troubling.
It shows that, already, businesses are worried about growing their operations, worried about hiring more workers, worried about trading with their international partners, and worried, in general, about the future. And this number is another data point in a larger pattern. Donald Trump’s tariffs are weighing down the US economy, spiking costs for small businesses and families alike, and if Donald Trump keeps up the chaos, the dangers for the economy will continue to get worse.
The post What? Chuck Schumer Calls Q2 GDP Numbers a “Mirage” – “Some Ominous Numbers Lurk Under the Hood” (VIDEO) appeared first on The Gateway Pundit.
