ADF

Jerry Bowyer: Economic Growth and American Greatness


It appears that the economy is slowing down and that markets are signaling even further weakening. I’ve been an economic optimist since the Trump election—especially when he made broad-based tax cuts a priority. But I did warn that the effects of the tax cuts would be short-term unless he continued to push in a pro-growth direction.

But after the cuts, the president instead pivoted towards increasing taxes on international trade. Make no mistake: tariffs are taxes. And as such, they choke growth.

And that’s exactly what has been happening.

Economic growth has gone from a sizzling summer of over 4 percent to an average fall at under 3 1/2 percent and the winter looks like it might be cooling down to under 3 percent.

If—in the president’s language—we want to make America great again—and we really want to beat China, growth is the way to do it.