As much as some of my fellow conservatives might not want to admit it, President Obama does in fact deserve some of the credit--perhaps 25%, all things considered--for the economy's encouraging performance over the last year or so. Why? Because of the 2-year compromise budget that Obama signed in 2016, because he made most of the Bush tax cuts permanent in 2013, and because he agreed to cap the capital gains tax rate at 20%. The 2016 budget deal protected $700 billion in tax breaks and lifted the ban on oil exports. All of these actions definitely helped the economy.
But these actions were partially and significantly offset by Obama's healthcare legislation, his increase in federal regulations, and his reckless spending. Obama's pro-growth actions outweighed his anti-growth actions, but his pro-growth actions would have done much more for the economy if there had been no Obamacare, no huge jump in regulations, and no reckless spending.
Trump deserves great credit--not all the credit, but the majority of it--for the improving economy. Why? Because of his significant reduction in federal regulations, his clear signals to the business community that he does not view them as the enemy, his ending of the war on coal, his approval of the Keystone XL pipeline, his successful and ongoing efforts to attract foreign investment, and his very public push for tax cuts and America-first trade policies. Trump has done a great deal to improve business confidence and consumer confidence, and this morale boost alone has been very important.
Many of Trump's policies are just starting to have effect or to take effect, such as his tax cuts. When his tax cuts have a chance to have their impact, when billions of dollars in overseas money continues to come back to America because of the tax cuts, when the infrastructure money that he has obtained starts to have its effect, etc., etc., I think we're going to see 3%-plus GDP growth and 200K-plus job growth by the end of this year or early next year, and possibly even better GDP and job growth in 2020 (assuming that his policies remain in effect).
Analysis: Right now, the Trump economy is blasting off
Trump's Deregulation Binge Is Lightening The Economy's Load | Stock News & Stock Market Analysis - IBD
President Donald J. Trump is Delivering on Deregulation
But these actions were partially and significantly offset by Obama's healthcare legislation, his increase in federal regulations, and his reckless spending. Obama's pro-growth actions outweighed his anti-growth actions, but his pro-growth actions would have done much more for the economy if there had been no Obamacare, no huge jump in regulations, and no reckless spending.
Trump deserves great credit--not all the credit, but the majority of it--for the improving economy. Why? Because of his significant reduction in federal regulations, his clear signals to the business community that he does not view them as the enemy, his ending of the war on coal, his approval of the Keystone XL pipeline, his successful and ongoing efforts to attract foreign investment, and his very public push for tax cuts and America-first trade policies. Trump has done a great deal to improve business confidence and consumer confidence, and this morale boost alone has been very important.
Many of Trump's policies are just starting to have effect or to take effect, such as his tax cuts. When his tax cuts have a chance to have their impact, when billions of dollars in overseas money continues to come back to America because of the tax cuts, when the infrastructure money that he has obtained starts to have its effect, etc., etc., I think we're going to see 3%-plus GDP growth and 200K-plus job growth by the end of this year or early next year, and possibly even better GDP and job growth in 2020 (assuming that his policies remain in effect).
Analysis: Right now, the Trump economy is blasting off
Trump's Deregulation Binge Is Lightening The Economy's Load | Stock News & Stock Market Analysis - IBD
President Donald J. Trump is Delivering on Deregulation
