Even as you enjoy the serotonin high from your third dessert, you know you will face the scales of justice in the morning. Today the stock market is near record highs, as unemployment is near record lows, but tomorrow always comes.
Keynesian economics takes discipline. The easy part, notwithstanding GOP crocodile tears over federal debt, was the Obama cure for the Great Recession--deficit spending to juice the economy. The hard part, is to reduce, or at least, stabilize the deficit. During this economic expansion, that is precisely what our European allies are doing.
Trump is doing the opposite. Tax cuts are greasing an already well oiled economy, with a slight short term gain, but a greater long term cost. Similarly, deregulation is upping corporate profits, but at a social cost that will eventually come due.
President Trump seeks immediate gratification, knowing nothing of the past, and caring little for the nation's future.
No comments:
Post a Comment