There is a “clear contrast” between President Trump’s economic goals if he’s elected to a 2nd term in office and those that Democratic nominee Joe Biden has planned, National Economic Council Director Larry Kudlow said.
“We have published that plan in 1 of the campaign documents and the President has been out there talking about a middle-class tax cut, a new middle-class tax cut,” Mr. Kudlow said on TV.
President Trump has also talked about retaining business tax cuts and making them permanent and an infrastructure package he said.
Democrats, led by Joe Biden, want to raise taxes and regulations while ending oil and natural gas, and that will mean loss of 10 million jobs, “economic decline, recession, stagnation, and pessimism,” Mr. Kudlow added.
But President Trump’s plans mean an “optimistic pro-growth prosperity message,” and the difference could not be more clear.
The nation remains in a “strong V-shaped recovery” from the virus induced shutdowns, and forecast there will be a “big GDP number” released this wk.
“We have a lot of momentum not only from the 3rd quarter but spilling into the 4th quarter and if we stick with pro-growth incentive-oriented policies we will have a bang-up 2021,” said Mr. Kudlow.
He added that while many consider the economy the main issue for the election, it would be a “fair assessment” to rank it with COVID-19.
“What I learned from President Reagan years ago when I was here the 1st time, President Trump has said the same thing, you have got to be strong at home in order to be strong abroad,” said Mr. Kudlow
Tuesday, the benchmark US stock market indexes finished at: DJIA -222.19 to 27463.13, NAS Comp +72.41 at 11431.28, S&P 500 -10.29 to 3390.68
Volume: Trade on the NYSE came in light at 796-M/shares exchanged.
HeffX-LTN’s overall technical outlook for the US major stock market indexes is Bullish with a Very Bullish bias.
- NAS Comp +27.4% YTD
- S&P 500 +5.0% YTD
- DJIA -3.8% YTD
- Russell 2000 -4.7% YTD
Looking Ahead: Investors will receive the weekly MBA Mortgage Applications Index Wednesday.
Have a healthy day, Keep the Faith!