Originally Posted by James Brown
I am only saying that I would much prefer Biden of the D candidates, because, if a D were to win, I am hoping for a President who won't tank the economy on purpose.
Jim
Hi Jim,
This statement is a bit confusing since why would any President tank the economy on purpose? Not to mention that the overarching theme of the economy and political parties in modern times is that the Republicans drive it into the ditch, and Democrats then spend eight years digging us back out. Precisely this scenario is what happened with Clinton after Reagan and Bush Sr. and it's what happened with Obama after Bush Jr. On top of that, Trump did not save the economy. Instead, he inherited one of the most prosperous economies in modern times. The economy was already on a steep growth curve when he took it over. Granted, deregulation, roll-backs of environmental protections, and a surge in company and consumer confidence have helped, but are these policies sustainable in the long run? I guess we will see, but most economists don't think so, especially given that sooner or later, those trillions of dollars in tax cuts to corporations and the wealthy are going to come due. And who has this Trump economy helped? Real wage growth is still flat or falling as it has been for decades. No doubt this economy has been good for those who were already doing well and have plenty of income investments, but the average American worker is not benefitting that much.
It's incredible to me that the persistent myth that the Democrats are the ones who "ruin" the economy will never die, given that all available evidence in modern times the truth is the opposite. I think it's time to consider that policies like industry-specific stimulus packages, moderate tax increases on the wealthy, healthcare reform, banking regulations, and reducing income inequality are not necessarily bad policy. After all, without them, Trump would not have had an excellent economy to inherit.