17/7/17

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[personal profile] fridi
It seems the Trump plan for US economic growth relies almost exclusively on corporate tax cuts and tax cuts for the wealthy. A "let's put all our growth eggs in one basket and hope for the best" sort of approach. During his presidential campaign, Trump promised to create 25 million new jobs and generate an economy that trots along at a 4-6% annual growth rate. Apparently, neither Trump promise is going to happen any time soon*:

Forecast of weak economic growth raises big questions about Trump’s populist agenda

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Or it could be more about the fact that the third wave of recovery following the Carter bubble is taking a little long to come, hmm? Picking up international growth numbers might save us, but the rates were not corrected and there is a lot of money sloshing around. To prevent a recession might be rather difficult given the parameters and optimism that seems to be rather misplaced.

* That, and the fact that Trump's plan assumed that the RINO congress led by McConnell and Paul Ryan would be able to pass legislation, which it so far has been unable or unwilling to do.

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