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Trump Domestic Policy - Budgets, etc


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  • 2 weeks later...

Ooof. Kind of sucks some (hot) air out of the balloon, doesn't it?

 

 

Tonight I listened to this Intelligence Squared debate about the state of the economy. They had an interesting mix of voices.

 

Anyway, I found myself rolling my eyes every time the Trump economic advisor took his turn. Granted, he had a major hand in writing the tax cut bill, as a bigwig at the Heritage Foundation, so he's quite impartial on the subject. But to me it just seemed like he was spitting out talking point after talking point trying to make conservatives feel good about what they've done with really no basis in economic reality.

 

The consensus was pretty clear: The tax cuts aren't going to do anything for long-term growth. They're not going to raise wages. They're not going to lead to long-term job gains. It's going to be a good short-term burst and stock buybacks are great for people who own stock but we're going to have a hell of a hangover once the jolt is over as interest rates continue to rise and the debt mounts. 

 

At some point reality is going to topple GOP rhetoric on the economy and it's going to be a very tough morning in America.

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7 minutes ago, Clifford Franklin said:

Ooof. Kind of sucks some (hot) air out of the balloon, doesn't it?

 

 

Tonight I listened to this Intelligence Squared debate about the state of the economy. They had an interesting mix of voices.

 

Anyway, I found myself rolling my eyes every time the Trump economic advisor took his turn. Granted, he had a major hand in writing the tax cut bill, as a bigwig at the Heritage Foundation, so he's quite impartial on the subject. But to me it just seemed like he was spitting out talking point after talking point trying to make conservatives feel good about what they've done with really no basis in economic reality.

 

The consensus was pretty clear: The tax cuts aren't going to do anything for long-term growth. They're not going to raise wages. They're not going to lead to long-term job gains. It's going to be a good short-term burst and stock buybacks are great for people who own stock but we're going to have a hell of a hangover once the jolt is over as interest rates continue to rise and the debt mounts. 

 

At some point reality is going to topple GOP rhetoric on the economy and it's going to be a very tough morning in America.

 

 

Do you really believe the bolded? They fairly successfully blamed the Democrats for what happened in 2008. Successfully enough that enough people thought Trump and tax cuts would be good for the economy.

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1 hour ago, Moiraine said:

 

 

Do you really believe the bolded? They fairly successfully blamed the Democrats for what happened in 2008. Successfully enough that enough people thought Trump and tax cuts would be good for the economy.

 

My point was that at some point reality is going to smack all of us upside the head and the joyride is going to be over. The economy is going to do what it's going to do; no amount of Republicans good feelings and spin is going to change that. 

 

They're predictably going to blame everyone else. They'll probably say we weren't conservative enough. That's what Brownback did when Kansas fell apart. But that's not really that important. The segment of the country that's predisposed to buying their crap on the matter will continue to do so. I don't know that they convinced anybody else 2008 was the Dems' fault.

 

It's going to be up to the rest of us to find constructive economic solutions at that point.

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