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Trickle-down has long been discredited but that didn't stop Trump.
Quote:
...the data have pretty much confirmed what critics had been saying all along. Yes, the tax cut gave the economy a boost — a “sugar high.” Running trillion-dollar deficits will do that. But the boost was temporary. In particular, the promised boom in business investment never materialized. And now the economy has reverted, at best, to its pre-stimulus growth rate.
Our economy has been doing better since we elected a Republican Congress in 2010 but is now getting headwinds with a Democrat Congress with the same Speaker that precipitated the Global Financial Crisis.
One thing is certain, the current crop of Democrats would run the economy over the cliff and need to be bailed out by a Republican Congress again.
But really, what can you expect from a guy has ran countless businesses into the ground, and appears to be staying afloat via mysterious financial backers.
It's not like he has sound economic advisors guiding him here.
Trump's economic brain trust "consists of a guy who plays an economist on TV, a crank who has been disowned by the (real) economics profession and the producer of “The Lego Batman Movie.”
This dream team is anchored by National Economic Council Director Larry Kudlow, "an affable former CNBC personality." He seems able to communicate to financial markets, but alas, this is rendered moot by Trump’s inability to settle on any consistent message worthy of communicating.
Senior White House aide and trade adviser Peter Navarro, can "not name a single other economist who agreed with his views on trade. More recently, he suggested the Wall Street Journal editorial page sounded communist."
You don't say.
Last, but certainly not least, there’s Treasury Secretary Steven Mnuchin. Whatever the artistic merits of bankrolling movies such as “Suicide Squad” and “The Lego Batman Movie," and having earned "the coveted title of greatest sycophant in Cabinet history" one wonders what relevance this background brings to the field of economics.
Our economy has been doing better since we elected a Republican Congress in 2010 but is now getting headwinds with a Democrat Congress with the same Speaker that precipitated the Global Financial Crisis.
One thing is certain, the current crop of Democrats would run the economy over the cliff and need to be bailed out by a Republican Congress again.
BS
Bill Clinton (D) left office with a $127 billion surplus and was projected to pay off the national debt in 10 years.
Bush Jr. (R) turned that into a $1.4 trillion deficit.
Obama (D) got it down to $492 billion.
Trump (R) raised it back up to $833 billion.
This is not media spin. These are the facts.
The economy was cooking the during the Clinton administration.
Things took a turn for the worse during the Bush administration.
Got back on track during Obama's administration. Thins have stayed on basically the same trajectory until Trump started f'ing around with tariffs and that payday loan tax scam, which had nothing to do with Democrats.
The last Republican President to leave the nation in better economic shape than he found it was Eisenhower.
Bill Clinton (D) left office with a $127 billion surplus and was projected to pay off the national debt in 10 years.
Bush Jr. (R) turned that into a $1.4 trillion deficit.
Obama (D) got it down to $492 billion.
Trump (R) raised it back up to $833 billion.
This is not media spin. These are the facts.
The economy was cooking the during the Clinton administration.
Things took a turn for the worse during the Bush administration.
Got back on track during Obama's administration. Thins have stayed on basically the same trajectory until Trump started f'ing around with tariffs and that payday loan tax scam, which had nothing to do with Democrats.
The last Republican President to leave the nation in better economic shape than he found it was Eisenhower.
A bucket of dirt could have accomplished what Clinton did.
Clinton was in the right pkace at the right time for the 401k shift and the dot com boom.
Clinton and the GOP congress continued to increase spending year after year, but capitalism gave them record tax dollars.
Actually it’s not, the economy is in good shape. Wages rising and unemployment is very low. His trade policy isn’t traditional republican and actually mirrors more blue dog democrat policy, worker first. Schumer supports his toughness on China for example. I’d say Trumps economic policies are the best we’ve had in a long time.
Actually it’s not, the economy is in good shape. Wages rising and unemployment is very low. His trade policy isn’t traditional republican and actually mirrors more blue dog democrat policy, worker first. Schumer supports his toughness on China for example. I’d say Trumps economic policies are the best we’ve had in a long time.
Agreed.
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