President Trump is Responsible for Strong US Economy
- The liberal smart set was and is wrong Mr. Hussein Obama gets no credit for this economy, his policies were abandoned and shredded by President Trump.
Economists Stephen Moore and Arthur Laffer wrote in The Wall Street Journal Friday that President Donald Trump deserves credit for the economy’s improvement, not former President Barack Hussein Obama.
Mr. Moore, a senior fellow at the Heritage Foundation, and Mr. Laffer, the Chairman of Laffer Associates, wrote that “Mr. Obama might be justified in taking credit for today’s economy if his successor had adopted and carried on his policies. Instead, Mr. Trump has reversed nearly every Obama rule, edict and law that he can legally overturn. At its core, the Trump economic strategy wasn’t complicated: systematically repeal Mr. Obama’s ‘accomplishments’—the tax increases, the regulatory blitz on business, the welfare expansions, the war on American fossil fuels, and so on. As a result, the economy would pop like a cork pulled from a shaken champagne bottle.”
They noted the predictions made by former Hussein Obama advisers and prominent Democrats before President Trump assumed office, which claimed that Presient Trump winning would lead almost immediately to another deep recession.
“The smart set argued that getting economic growth to 3% was virtually impossible. Yet 18 months into Mr. Trump’s tenure, the economy is already nearing that mark, with no recession in sight. It turns out that 3% growth seemed impossible to the left only because Mr. Obama’s Keynesian policy prescriptions failed to do the trick,” they wrote.
Messrs Moore and Laffer, who have a new book coming out called “Trumponomics: Inside the America First Plan to Get Our Economy Back on Track,” conclude that “Mr. Obama’s approaches to taxes, energy and regulation were wrongheaded. In that sense, they really did set up President Trump for this big economic rally—by giving him bad policies to repeal.”
Have a terrific weekend.
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