It’s worth considering: Does the Trump administration’s policy approach deserve credit for the massive economic successes during the president’s pre-pandemic first term?
It’s true that some poor policy management on issues prevented the economy from hitting even higher heights during this period, such as the weight of an increasing national debt and the fallout from Trump’s harmful trade restrictions.
And, of course, no president of any party is entirely responsible for the country’s economic outcomes, even if that is, unfortunately, how the economy is often portrayed by the press and political class. There are, quite literally, millions of factors in play that determine the state of the economy.
But there’s no denying the fact that the laissez-faire approach of deregulation the Trump administration implemented during its first three years contributed to the economic growth and rise in the stock market that fueled surges in household net worth. The 2017 tax reform lowered punitive corporate taxes, which fueled growth by making the US more internationally competitive. Thus, the Trump administration does deserve major credit for the positive economic trends we’ve experienced.
In sharp contrast: Biden’s Green New Deal Will End Fracking And Make America Beholden To China.