Tag Archives: economic growth

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.

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David Davenport: Previewing Trump’s First State of the Union Speech

Compromise

A president’s first state of the union message is an important occasion. But in our era of political theater, there is some danger that this year the sideshow will overshadow the main attraction.

Several Democratic members of Congress say they will boycott the event.  One Congresswoman is encouraging females who do attend to dress in black.

Despite the political challenges, “it’s the economy, stupid.”  If Trump makes this primarily an economic address, he can succeed.  Think about it:  unemployment is down, jobs are up and the stock market is on fire. His big piece of legislation, the tax bill, is projected to lead to even more economic growth. The president has problems elsewhere, but so far so good on the economy and that should be his message.

The Constitution does not actually require this kind of televised state of the union address, though tradition does.  It’s always possible that a nontraditional president like Trump might surprise us and do something completely different.

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Michael Medved: “Zero Sum Game” Distorts Thinking on Tax Cuts, Foreign Affairs

Opioid

As Congress debates immediate, substantial cuts in federal tax rates, liberal opponents invoke the discredited concept of a “zero sum game”—the idea that if one citizen gains, then another must lose, because they believe that one individual’s good fortune must always mean someone else’s misfortune.

This thinking ignores the way economic growth can benefit everyone; creation of wealth means more opportunities, not fewer, for everyone in the vicinity of the wealth creator.

Unfortunately, some conservative nationalists make similar mistakes regarding foreign affairs: believing that one nation’s progress, brings suffering for others. Instead, today’s global economy makes prosperity is contagious.

The United States has everything to gain from the economic advancement around the world: that means more markets for our producers, and more products for our consumers.

We should favor, not fear, the advancement of our neighbors down the block, as well as prosperity for peaceful nations on the other side of the world.

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