4 ms·
The crime was Trump's deficit-fueling tax cuts during boom times. If he had stayed on Obama's track we would have had decent surplusses leaving us more prepared
by guelo 3y ago
The crime was Trump's deficit-fueling tax cuts during boom times. If he had stayed on Obama's track we would have had decent surplusses leaving us more prepared for the covid recession. Most economic theories say to counterbalance recessions by cutting back during boom times and spending more during down times. Biden is bringing us back faster post-pandemic than Obama post '08 financial crisis. Which indicates that the pandemic spending was appropriate, even if it fueled temporary inflation we're now growing way faster than most other economies.