Trump won't get sustained 'boom' without an infrastructure bill and more tax cuts, new White House r

[Eugene]

Source: Washington Post

By Heather Long March 19 at 12:01 AM

President Trump has promised an economic boom that will last for years to come, but he’s unlikely to get one without the help of Congress to pass major new legislation, according to estimates by Trump’s own economic team.

To achieve about 3 percent growth for the next decade, Trump would need a big infrastructure bill, more tax cuts, additional deregulation, and policies that transition more people off government aid and into full-time jobs, according to the 2019 Economic Report of the President, released Tuesday by Trump’s Council of Economic Advisers.

There’s skepticism that Trump will be able to get all of these policies through Congress, especially with Rep. Nancy Pelosi (D-Calif.) leading the House.

“Washington is a really hard place to get things done,” said Kevin Hassett, chairman of the Council of Economic Advisers, but he stressed that his biggest concern for growth is Trump’s policies getting rolled back or Medicare-for-all becoming reality.

The report shows for the first time that the White House is predicting a lot weaker growth if all of those new policies do not come through. ...

-snip-


Read more: https://www.washingtonpost.com/business/2019/03/19/trump-wont-get-sustained-boom-without-an-infrastructure-bill-more-tax-cuts-new-white-house-report-shows/

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Full title: Trump won’t get sustained ‘boom’ without an infrastructure bill and more tax cuts, new White House report shows

[SHRED]

1. I'll translate...

Last edited Tue Mar 19, 2019, 09:13 AM - Edit history (1)

He won't get it.

[Javaman]

20. you might want to fix your translation. nt

[jmowreader]

2. Let's see here...

He wants to spend more money on infrastructure, more money on defense, any money at all on that fucking wall, AND have tax cuts?

I realize Trump is a shitty businessman, but this is ridiculous.

[htuttle]

17. I'm sure he's planning to just borrow it and not pay it back

It's how Trump rolls. A year or so ago, didn't they have to walk back some bullshit he excreted about 'not caring about our credit rating'?

He doesn't really understand loans.

[TexasBushwhacker]

18. SOP for the GOP n/t

[Owl]

22. Exactly

[Iliyah]

3. How about the monies WH is trying to take from the

military for the wall that majority of Americans don't want. Another tax cut for the rich?

I think the WH sees the writing . . . America's economy is slowly going downhill and they are setting up for the blame game.

[videohead5]

4. This is stupid

We are at full employment right now. The fantasy that there is enough people that can come off of welfare to grow the economy even more is a joke. Most people on food stamps now are either the retired poor or disabled or already working and not making enough. More tax cuts will do nothing but explode the deficit even more.

[DallasNE]

5. This Is At Odds With The Budget Released A Week Ago

So it looks like the right hand doesn't know what the left hand is doing. And it would add to the already high government borrowing.

[Lock him up.]

6. Looks like INDIVIDUAL 1 and his corrupt admin...

... want more tax cuts for themselves before they get indicted.

The mob boss needs $8M to pay fines in NY for his illegal charity fund.

[DeminPennswoods]

7. The typical GOP budget wish list

Except for infrastructure spending, it reads like a leftover Paul Ryan budget proposal.

[watoos]

10. Oh have you seen the Republican infrastructure plan?

Let me make up an example. A bridge needs rebuilt or built, it is built with 90% taxpayer dollars and 10% developer dollars. When the project is finished the developer owns the bridge, he can put a toll on the bridge and keep the profits. Down the road when the bridge needs repairs the developer can just walk away.

That is the Republican infrastructure plan. It has a fancy name too, something like the government/private sector partnership infrastructure plan.

Another Republican taxpayer scam.

[DeminPennswoods]

15. The old public/private partnership idea

It is workable, but there have to be serious implementation rules.

[jmowreader]

24. And they have to be more stringent than the ones the GOP likes

Which boil down to “do whatever you want, it’s all good.”

[modrepub]

8. Time to shift the blame

and move the goal posts.

[watoos]

11. Here's the problem;

Trump promised 4%, 5%, or 6% growth if we just passed his tax cuts for the rich tax cuts. His White House people predict 2.9% growth, but wait, the CBO, which is who should be used, predicts 1.9% growth. With 1.9% growth the deficit is going to explode to over a trillion dollars a year which I'm guessing will lead to calls for cuts to SS, Medicare, and Medicaid.

Trump will call for his crony infrastructure bill and when the House rejects it Trump can blame Democrats for poor growth. Oh and here in central Pa. gasoline is now $2.75/gal and rising.

[jmowreader]

25. You can stop guessing now

They’ve already called for cuts in those three programs.

What I want to know: since Social Security and Medicare are funded by their own taxes, doesn’t cutting the program payouts while leaving the taxes where they are mean the GOP is recommending a huge tax hike on the working class?

[safeinOhio]

9. He's a counter puncher.

If only that mean Nancy wouldn't have caught his with a vicious left hook He could have been a contender.

[BumRushDaShow]

12. "would need a big infrastructure bill, more tax cuts, additional deregulation"

THAT truly is a recipe for disaster.

Cut even more revenue but then expect to pay for infrastructure.

The GOP excels in "borrow and spend" and they do it on purpose. And when Democrats end up taking over after the GOP trickle down bullshit fails, it's the Democrats who are forced to do the "cutting" to get the deficit and debt under control... and ultimately the ones who pay the price for that are the least among us. It's the perfect bait and switch.

[jmowreader]

26. Exactly. It's all part of the plan.

What needs to be done never will be done: arresting, trying and imprisoning the GOP for Gross Fiscal Mismanagement. Then we need to pass a law that returns the tax system to pre-Reagan days, and forbids cutting taxes at all except for temporary stimulus periods.

[BumRushDaShow]

27. Sadly

as I often see posted here on DU - we can get rid of them at the polls. But we know that those are rigged too.

[George II]

13. Are we about to see infrastructure week #73?

[rickyhall]

14. Same old bullshit for 40 fucking years. They think we're so stupid.

We must destroy this criminal organization - the GOP.

[machoneman]

16. No...We're not stupid. His fucking base is though!

Total morons, they are.

[Maeve]

19. Could have stopped after the first five words

Trump won’t get sustained ‘boom’

[Maxheader]

21. Stumpy won't get anything unless it fixes the roads...

[IronLionZion]

23. They'll just pass more tax cuts in the meantime

and cut spending for social programs. Since that always works so well.

[mahatmakanejeeves]

28. Here's a link to a summary of the report.

I won't copy the entire text, as it goes on and on.

A Summary of the 2019 Economic Report of the President
March 19, 2019 18 minute read

Council of Economic Advisers

In accordance with the Employment Act of 1946, the purpose of this Report is to provide the U.S. Congress with “timely and authoritative information concerning economic developments and economic trends” for the preceding year and, prospectively, for the years ahead. As required by the Employment Act, the Report also sets forth the Administration’s program for achieving the chartered purpose of:

{snip}

[SWBTATTReg]

29. Lies, all lies. Just like the 2017 Tax Cut and Jobs Bill promised. It didn't (was supposed ...

to gen almost $4000 in benefits supposedly) and also supposed to stimulate the economy. It didn't. As usual, more broken promises.

[GulfCoast66]

30. It reaped that much for the audience he needs to target...

Educated high income people in Red states. The poor whites don’t vote and the real middle class who saw no real tax cut are his forever due to his xenophobic rhetoric.

Blue state upper middle class folks got hosed due to the loss of mortgage deductions but Ryan and McTurtle know their votes don’t matter in Presidential elections and knew the senate was bullit proof in 18.

It was the higher income, higher education whites in red states who are most likely to flee the him in 2020 they made out well. How do I know? I’m one of them. My taxes are down over 4K. Sure, it helps wreck the economy long term. And as a social democrat I want higher taxes on my bracket. But the calculation was that the tax cut would keep this demographic voting for him. And it might work. I have listened to my coworkers for the past year tell about their increased paycheck. And since they understand the dynamics of the tax code and don’t count on a refund they know they have received a windfall. This was intentional. Of course Trump is too stupid to understand the nuances of it. He just signed what they put in front of him.