The Trump administration recently revealed its grand plan for turbocharging economic growth: Make Drinking Water Dirty Again.
The talking heads who get trotted out to defend President Trump frequently tout his supposedly stellar economic record. He’s unleashing gangbusters growth, they claim. You might not like the tweets, but you can’t deny that his tax cuts and deregulation have jump-started the economy.
But those tax cuts, so far, have been a bust, never delivering the sustained surge in business investment that Trump surrogates promised. In fact, business investment shrank last quarter, and recent indicators suggest it could weaken further. That’s partly because of Trump’s trade wars, of course.
Major independent forecasters predict that the economy will grow about 2.2 percent in 2019. As I noted in a recent column, that means we added $2 trillion to federal deficits to get us to . . . the average growth rate we saw during President Barack Obama’s second term.
Well done, Mr. President…