LAWRENCE KUDLOW: The Boom They Never Saw Coming.

Secretary [Bessent] pointed out that President Biden’s big government socialism has been restructured since Mr. Trump took office, nearly 400,000 government jobs have been eliminated, while more than 900,000 private jobs have been added. This is part of the economic boom story.

What’s more, we tried big government socialism under Biden, and it produced a 21 percent cumulative inflation rate. And to a large extent, we are still suffering the hangover from that inflation even today.

I asked Mr. Bessent about how “we’re seeing free enterprise move through this hemisphere. Very interesting. A lot of overturning of the left and socialism moving back towards free market economics.”

The headline employments figures haven’t looked great, largely because under Trump, we’re shedding government jobs at almost half the rate we’re gaining private-sector jobs.

But the latter are productive while the former… not so much.

Daniel McCarthy had related thoughts yesterday.