Debating Trump’s Economic Boom
Share
[aggregation-styles]
CNN: Fareed’s Global Briefing Subscription
With his impeachment acquittal on the horizon, Peter Baker writes for The New York Times, President Trump used his State of the Union address to stump for reelection—and his case rests on an economic boom. Three years into Trump’s presidency, US unemployment at its lowest point since 1969.
Is the success sustainable? The Washington Post asks that question in an editorial, pointing out that productivity growth is “sluggish” despite Trump’s tax cuts, while his anti-immigration policies work against overall improvements in labor participation. The critique echoes one leveled by Rana Foroohar in a recent Financial Times column: Trump’s boom story has some holes in it, she wrote, given that investment started dropping last year, deficit spending looks risky, and an economy overheated by tax cuts (which mostly funded corporate stock buybacks) looks shakier on close inspection.
The Post also asks a larger question: What are the Trump years costing us? Trump has “not only changed economic policy since 2017; he has tried to change the presidency—from a focal point of national unity to a bully pulpit for partisan and personal rancor,” the paper writes. “This is as false as it is Faustian; trust and consensus are essential ingredients of a modern, efficient economy, not to mention indispensable to a thriving, durable Union.”
Read More →
CNN: Fareed’s Global Briefing Subscription
With his impeachment acquittal on the horizon, Peter Baker writes for The New York Times, President Trump used his State of the Union address to stump for reelection—and his case rests on an economic boom. Three years into Trump’s presidency, US unemployment at its lowest point since 1969.
Is the success sustainable? The Washington Post asks that question in an editorial, pointing out that productivity growth is “sluggish” despite Trump’s tax cuts, while his anti-immigration policies work against overall improvements in labor participation. The critique echoes one leveled by Rana Foroohar in a recent Financial Times column: Trump’s boom story has some holes in it, she wrote, given that investment started dropping last year, deficit spending looks risky, and an economy overheated by tax cuts (which mostly funded corporate stock buybacks) looks shakier on close inspection.
The Post also asks a larger question: What are the Trump years costing us? Trump has “not only changed economic policy since 2017; he has tried to change the presidency—from a focal point of national unity to a bully pulpit for partisan and personal rancor,” the paper writes. “This is as false as it is Faustian; trust and consensus are essential ingredients of a modern, efficient economy, not to mention indispensable to a thriving, durable Union.”
Read More →
By Fareed Zakaria | 5 Feb 2020
RELATED TOPICS:
The Many Names of GOP Vice Presidential Nominee JD Vance
Latest /
1 hour ago
‘Fed Up’ Dyer, Councilmembers Unveil Plan to Crack Down on Street Campers
Politics /
1 hour ago
Companies Cut Prices to Boost Sales, Consumers Respond
Business /
2 hours ago
Warner Bros. Discovery Sues NBA for Not Accepting Its Matching Offer
Sports /
3 hours ago
Will Bonta Election Lawsuit Reverse the Will of Fresno County Voters?
Politics /
3 hours ago
Opening Ceremony Floats Down Seine as Paris Investigates Rail Sabotage
Sports /
3 hours ago
Bulldogs’ Two-Position Standout Tommy Hopfe Signs With Rockies
Fresno State baseball standout and two-way player Tommy Hopfe has signed a one-year, $100,000 guaranteed contract with the Colorado Rockies....
Sports /
2 mins ago
Categories
Latest
Videos
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26161707/Tommy-Hopfe-with-the-Colorado-Rockies_1280X720-1024x576.jpg)
Sports /
2 mins ago
Bulldogs’ Two-Position Standout Tommy Hopfe Signs With Rockies
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26145457/image-2024-07-26T145350.189-1024x576.jpeg)
Sports /
1 hour ago
Former Bulldog QB Jake Haener: I Have a ‘Rare Form of Skin Cancer’
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26154603/Republican-vice-presidential-candidate-Sen.-JD-Vance-R-Ohio-speaks-at-a-campaign-rally-July-22-2024-in-Radford-Va.-Vance-introduced-himself-to-the-world-in-2016-when-he-published-his-bestse-1024x538.jpg)
Latest /
1 hour ago
The Many Names of GOP Vice Presidential Nominee JD Vance
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26141048/Jerry-Dyer-Homeless-newser_1280X720-1024x576.jpg)
Politics /
1 hour ago
‘Fed Up’ Dyer, Councilmembers Unveil Plan to Crack Down on Street Campers
![](https://gvwire.s3.us-west-1.amazonaws.com/wp-content/uploads/2024/07/26144020/shutterstock_2167128821-1024x576.jpg)
Business /
2 hours ago