Now comes a report from the Commercial Real Estate Firm, "CoStar Group" the staggering retail store closures the past two years that is expected to continue in 2019. According to the report retailers closed a record breaking 102 million square feet of store space in 2017, then smashed that record in 2018 by closing another 155 million square feet store space.
More of the same is predicted for this year and an analysis by Business Insider reports retailers have already announced more than 6,200 store closures so far this year. Did the Trump-GOP tax cuts help those stores stay alive, turn things around for another day or stop the bleeding? It's always been obvious for those who follow politics that trickle down economics practiced by republicans never achieve its goal of being an economic stimulus of any long range value.
The $800 billion stimulus plan passed by the Obama administration after the 2008 great recession had a greater positive long term impact on the economy, job creation and the federal government's fiscal house than the $1.5 trillion Trump-GOP tax cuts because the stimulus was targeted to the needs of the economy. In other words, there was a plan behind the stimulus, where as trickle down economics is simply a product of ideology.
There are some economic truths that never change and some that are still around supported by lies. And yes my fellow Americans, understanding the past is still the key to a better future.
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