Why Trump Should Be Blamed, Not Praised, for the High GDP Growth
Generally, voters give a President credit for an expanding economy. Much of the time, that’s like the old Chinese Emperors being praised or blamed for the occurrence or non-occurrence of earthquakes, droughts, etc. That’s because the role the President plays in how the economy is functioning, and where in the business cycle we find ourselves, is quite limited.
But in the case of Donald Trump, and the recent news that the economy grew by 4.1% last quarter, the situation may be different. The Trump administration has indeed acted in ways that helped elevate that number.
But here’s the thing: The expansionary steps that Trump and his administration have taken are reprehensible, and their costs far exceed their benefits. Not credit, but blame is what Trump deserves even here.
1) Trump signed a terrible tax bill. It was mostly the doing of the Republicans in Congress, but Trump signed on. It was terrible not only because it increased wealth inequality in America, but also because it was a stimulus at the most stupid and destructive of times in the business cycle.
Read more: https://bluevirginia.us/2018/07/why-trump-should-be-blamed-not-praised-for-the-high-gdp-growth
