Make no mistake, it will take place and play out. The successful economic policies of the previous administration have been reversed, regulations are no more and the banks are once again free to set their own rules. The tax cuts will allow corporate America to increase their wealth and that of their stock holders but will not create the necessary jobs nor sustain the economy.
Trump's newly appointed economic adviser Larry Kudlow is a trickle down economic guy who was wrong about the tax cuts and economic policy of the Reagan, Bush 41 and Bush 43 years. He especially went off the deep end during the Bush 43 administration and predicted a record economy and all the good stuff that goes with it. He was dead wrong again and brings the same failed ideology to the Trump administration. He and the trumpet man are good friends and think alike. They also share the belief in fake news and Kudlow has already had to apologize to Nikki Haley, the U.S. Ambassador to the U.N. over a remark he made and he has only been on the jobs a short time.
Trump has not been able to renegotiate NAFTA after 15 months in office and Mexico and Canada are not rolling over and playing dead like Trump thought. Our two trading partners are proving difficult for the trumpet man to work his charm. Those two countries share a border with the U.S. so their partnership is important and valuable.
The U.S. trade deficits do not cause recessions. There were no recessions on President Clinton or President Obama's watch because they had an economic policy that worked, created jobs, balanced the budget and reduced deficit spending. Those two Presidents also created more new jobs in the 16 years they served than were created in the 28 years of Nixon-Ford, Reagan, Bush 41 and Bush 43. Trade deficits are actually a measure of the U.S.'s strong economy. The problem with the economy mainly takes place on the republican watch because of a lack of policy and their belief in trickle down economics and a false ideology.
Yes, Trump's economic recession is coming, and when it does, remember you read it here first in PolitiDose, your daily dose of political commentary.
This commentary written by Joe Lorio
