David McWilliams: Under the bonnet of Trump’s purring economic engine

The US economy seems to be ticking over nicely, but it’s fuelled by a near-$1tn deficit

US president Donald Trump: The Trump economy is outperforming the Obama administration’s forecasts of growth of 2.4 per cent and 2.3 per cent in 2017 and 2018, respectively. Photograph: Yuri Gripas/Reuters

US president Donald Trump: The Trump economy is outperforming the Obama administration’s forecasts of growth of 2.4 per cent and 2.3 per cent in 2017 and 2018, respectively. Photograph: Yuri Gripas/Reuters

Mystic, Connecticut is one of those beautiful New England fishing villages, all wooden clapboards and two-storey homes. US flags fly from at least half of them. Cars slow down 10 yards from zebra crossings, as young mothers push outsized strollers to organised playdates.

The Mystic river flows into the Atlantic here, and most riverside homes have their own boats, tied up to family piers. People here are ridiculously helpful. Mystic doesn’t do surly. Pumpkins are everywhere, and the colours are gorgeous, but it’s getting cold.

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