Yesterday, Andy joined Varney & Co. to discuss President Trump touting the blue-collar boom during his 2020 State of the Union Address on Tuesday night. “You really have to be fooling yourself if you’re going to try and credit Obama for this [economic boom]. Obama raised taxes, Trump cuts them. Obama increased regulations, Trump reduces them. Obama didn’t want to focus on domestic energy production, Trump did. So he [Trump] reverses everything that Obama does and the economy just soars to new heights,” argued Andy. He went on to note that the economy is booming as it never has before and it is due to the complete reversal of Obama’s policies. “To try and credit Obama is ridiculous.”
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Next, Stuart discussed the January 2020 ADP Employment Report, which announced 291,000 new jobs in the private sector and asked Andy if this indicates that the economy is beginning to accelerate again. “We’ve got this new deal with China where they’re going to be buying $200 billion worth of our goods over the next two years. People have confidence in the economy – the uncertainty that was out there because of these trade relationships has gone away. We’re going to see more growth this year…We should see very accelerated GDP growth this year and the American people are the ones who are going to benefit,” said Andy.
In closing, Stuart asked about Chipotle’s change in management to which Andy said, “Chipotle is doing something right. They’re in a good sector and I wish them the best.”
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