In his State of the Union address five years ago, President Barack Obama talked at length about what he called "Middle-class economics." After years of economic stagnation, he promised that the only thing needed to revive the economy was more middle-class benefits.
The middle class has made substantial gains since then, but only because President Donald Trump ignored everything Obama said.
Instead, Trump delivered tax cuts derided by the left as a giveaway to the rich, and deregulated measures that Democrats had claimed were pro-growth.
When Trump addressed Congress last week, he rattled off a long list of economic gains that resulted from his break from Obama's "Middle-class economics." It turns out that cutting taxes and regulations, not more government spending, is what the middle class needs.
When Trump took office, the consensus forecast for growth was bleak.
While Trump has yet to hit 3% GDP growth, the results have been far above what the CBO and other conventional economists had predicted.
In his speech, Trump said, "If we hadn't reversed the failed economic policies of the previous administration, the world would not now be witnessing this great economic success."
https://issuesinsights.com/2020/02/11/obama-promised-a-middle-class-economy-trump-delivered-it/
The middle class has made substantial gains since then, but only because President Donald Trump ignored everything Obama said.
Instead, Trump delivered tax cuts derided by the left as a giveaway to the rich, and deregulated measures that Democrats had claimed were pro-growth.
When Trump addressed Congress last week, he rattled off a long list of economic gains that resulted from his break from Obama's "Middle-class economics." It turns out that cutting taxes and regulations, not more government spending, is what the middle class needs.
When Trump took office, the consensus forecast for growth was bleak.
While Trump has yet to hit 3% GDP growth, the results have been far above what the CBO and other conventional economists had predicted.
In his speech, Trump said, "If we hadn't reversed the failed economic policies of the previous administration, the world would not now be witnessing this great economic success."
https://issuesinsights.com/2020/02/11/obama-promised-a-middle-class-economy-trump-delivered-it/
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