US companies continue to see an increase in profits despite a grid locked Republican controlled Congress.
Earnings for S&P 500 companies year over year show an 11% increase in the second quarter, adding to the 15% increase reported in the first quarter.
From the Wall Street Journal:
Corporate America’s strong earnings performance comes as several policy initiatives that were expected to help boost companies’ bottom line—corporate-tax cuts and increased government spending on infrastructure—have been sidetracked amid political infighting in Washington, D.C., which culminated with the recent failure of the health-law bill.
It seems that the promises of Republican’s to deliver government reform helped fuel the current profit expansion. Imagine what can happen if they actually DO the reform as promised.