Debating Trump’s Economic Boom
By Opinion
Published 4 years ago on
February 6, 2020
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:
Fresno State’s Randa Jarrar Dragged Out of Event Featuring Big Bang Theory’s Mayim Bialik
Latest /
6 hours ago
Trump Calls Judge ‘Crooked’ After Facing a Warning of Jail Time if He Violates a Trial Gag Order
Politics /
6 hours ago
Federal Reserve Says Interest Rates Will Stay at Two-Decade High Until Inflation Further Cools
Economy /
7 hours ago
House Passes Bill Expanding Antisemitism Definition Amid Campus Protests Over Gaza War
Politics /
7 hours ago
Trump Awarded 36 Million More Trump Media Shares Worth $1.8 Billion
Business /
8 hours ago
New Battlegrounds Emerge in California’s Political Guerrilla War Over Housing
Housing /
10 hours ago
Fresno State Shows the Nation How a Peaceful Palestinian Protest is Done
A peaceful pro-Palestinian sit-in at Fresno State on Wednesday lived up to its billing.
“We want a cease-fire, and we just want a free...
Politics /
4 hours ago
Categories
Latest
Videos
Latest /
6 hours ago
Fresno State’s Randa Jarrar Dragged Out of Event Featuring Big Bang Theory’s Mayim Bialik
Politics /
6 hours ago
Trump Calls Judge ‘Crooked’ After Facing a Warning of Jail Time if He Violates a Trial Gag Order
Economy /
7 hours ago
Federal Reserve Says Interest Rates Will Stay at Two-Decade High Until Inflation Further Cools
Politics /
7 hours ago
House Passes Bill Expanding Antisemitism Definition Amid Campus Protests Over Gaza War
Latest /
1 day ago