Another republican economic recession is coming in 2019. In fact the outline of it has already begun but so much is glossed over by Trump and the republicans propaganda the real world comes crashing down when its too late. The Trump-GOP tax cuts have already proved to be ineffective (no surprise there to those who pay attention) because trickle down economics only works in the mind of political ideology. Job creation in the first 21 months of the Trump administration was less than the jobs created in the last 21 months of the Obama administration. GDP reached a higher quarterly level during the Obama administration than it has so far under the Trump administration.
The present stock market convulsion is a result of over price, reality and the usual manipulation that takes place. Large corporations used their 14% tax reductions to buy back their own stock and other non job creation ventures instead of investing in new plant and equipment like Trump and the republicans said they would. Trump's trade wars and tariffs are not friendly to economic progress nor are his isolation attitude with our allies helpful.
But there is hope for 2019 with the democrats control of the U.S. House if Trump and the republicans listen because the democrats will propose several initiatives that will improve the economic outlook and the economy. The democrats will also address the issues that the republican controlled congress have kicked down the road for the past two years. So the ball will be in Trumps and the GOP's court. Will they work with the democratic party or allow the economic gains and job creation started by the Obama administration fail once again and allow the country to end up in recession again on the republican watch?
This commentary written by Joe Lorio
