Good-bye Recession Fears. Less than two months ago, conventional wisdom thought the US economy was in real trouble. Oops! The US economy accelerated in the first quarter, with real GDP up at a 3.2% annual rate for the quarter and from a year ago.
Tag Archives: Economic Growth
One word that could describe Donald Trump’s unexpected ascendancy to the presidency is – “revolt.” Revolt against the “establishment.” Revolt against the “status quo”. Whether you agree with these developments or not, the U.S. hasn’t seen economic policy changes like this in a long time. The forces that support markets and entrepreneurship over government control are reasserting themselves.
Clearing a Path for Tax Reform. Washington D.C. used to complain that Ronald Reagan employed a strategy of “starving the beast” – cutting taxes so that new spending was tough to legislate. Now, D.C. seems to employ the strategy of “gorging the beast” – spending so much that tax cuts are hard to pass.