According to Victor Davis Hanson, a senior contributor to The Daily Signal, the US economy has achieved a 3.4% growth rate in the third quarter, as reported by The Wall Street Journal. Hanson attributes this growth to President Donald Trump's economic policies, including deregulation and tax cuts.
He notes that despite high oil prices, the economy is expected to continue growing, with predictions of a 5% growth rate in the fourth quarter. Hanson also discusses Trump's work ethic and campaign strategy, stating that he outworked his opponents and had a strong team around him, including JD Vance, who was a good debater and helped articulate the Trump message.
Hanson believes that Vance's ability to go on talk shows and debate effectively helped Trump's campaign. The economy's growth is seen as a positive development, with Hanson expressing frustration that he was previously criticized for predicting economic growth under Trump's presidency.
He attributes the current high oil prices to a lack of refineries, rather than a lack of oil, and predicts that the price of oil will collapse once the current global conflicts are resolved. The expected outcome is a significant decrease in gas prices, potentially down to $2.50 per gallon.