American prosperity of Trump era marks real turning point in history

[Wehrwolfen]

American prosperity of Trump era marks real turning point in history

By Arthur Laffer
July 27, 2018

Gross domestic product, or GDP, is the measure of choice when assessing the health of any economy, especially in the United States. GDP, which is measured at annual rates, includes the value of production of all goods and services produced in a country. In the one year since President Trump took office, the first quarter of 2017 through the first quarter of 2018, real GDP grew at a 2.55 percent annual rate. This is higher than the growth for six of the eight years former President Obama was in office, or even five of the eight years when former President George W. Bush was in office.

Source: http://thehill.com/opinion/white-hou...-story-socials
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IMO, the problem is our current growth is being driven by tax cuts without corresponding cuts to spending, just more deficit spending of which both Bush and Obama were the worst culprits, Trump is correct that entitlements have to be cut back, or in many cases completely ended. To begin with, a cutback of 10% on all entitlements by Congress would significantly help. If not, eventually our chickens will come home to roost, then we will face the choices of cutting spending and raising taxes or printing money as Obama had the Federal treasury do during his administration..Neither will be pretty and the odds of anyone giving up entitlements are pretty slim but are necessary for full recovery. Progressive Marxist Socialist Democrats encourage and want people to suck on the teat of the government hoping for votes in return from the disenfranchised. They have no “Plan” for fiscal responsibility. And these people praising democrats don’t give a rat's arse about the health of the country, just their false moral/altruistic fantasies... Whoever can “Champion” the most gets more liberal brownie points ala Sanders and Ocasio-Cortez.

Can PMS-Democrats please make up their minds? Do they support spending trillions on social entitlement programs (and the deficits that come with them) or not?

[countryboy]

American prosperity of Trump era marks real turning point in history

By Arthur Laffer
July 27, 2018

Gross domestic product, or GDP, is the measure of choice when assessing the health of any economy, especially in the United States. GDP, which is measured at annual rates, includes the value of production of all goods and services produced in a country. In the one year since President Trump took office, the first quarter of 2017 through the first quarter of 2018, real GDP grew at a 2.55 percent annual rate. This is higher than the growth for six of the eight years former President Obama was in office, or even five of the eight years when former President George W. Bush was in office.

Source: http://thehill.com/opinion/white-hou...-story-socials
~~~~~~
IMO, the problem is our current growth is being driven by tax cuts without corresponding cuts to spending, just more deficit spending of which both Bush and Obama were the worst culprits, Trump is correct that entitlements have to be cut back, or in many cases completely ended. To begin with, a cutback of 10% on all entitlements by Congress would significantly help. If not, eventually our chickens will come home to roost, then we will face the choices of cutting spending and raising taxes or printing money as Obama had the Federal treasury do during his administration..Neither will be pretty and the odds of anyone giving up entitlements are pretty slim but are necessary for full recovery. Progressive Marxist Socialist Democrats encourage and want people to suck on the teat of the government hoping for votes in return from the disenfranchised. They have no “Plan” for fiscal responsibility. And these people praising democrats don’t give a rat's arse about the health of the country, just their false moral/altruistic fantasies... Whoever can “Champion” the most gets more liberal brownie points ala Sanders and Ocasio-Cortez.

Can PMS-Democrats please make up their minds? Do they support spending trillions on social entitlement programs (and the deficits that come with them) or not?

If we don't get the debt under control, there will be no "era of prosperity". This house of cards will collapse eventually.