Richardcyoung.com

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin & Alfie Oakes
  • World Gold Mine Production
  • Fidelity & Wellington Since 1971
  • Hillsdale College
  • Babson College
  • Contact Us

Trumponomics: Getting Our Economy Back on Track

June 8, 2018 By Debbie Young

Debbie Young

In a new book by former Obama adviser Ben Rhodes, Mr. Rhodes quotes President Obama after President Trump’s victory: “I’ve got the economy set up well for him.” After last Friday’s blockbuster jobs reports, Obama’s self-congratulatory line was repeated countless times in the media, Stephen Moore and Arthur Laffer note in the WSJ.

In that it is hard to find a single economic indicator that is not pointed in a bullish direction, “the left is now forced to argue that Mr. Trump’s economic success is really the continuation of a trend that began under President Obama.” Messrs. Moore and Laffer ask and answer, “Is it true?”

Yes, but not in the way Mr. Obama and the Trump haters think. As advisers during the 2016 campaign, the two of us told Mr. Trump over and over that he could get America back on a path of 3% to 4% annual growth. After seven years of the weakest recovery since the Great Depression, we felt confident that simply turning the policy dials from antibusiness to pro-business would have an enormously stimulative effect. Mr. Trump agreed—and that’s precisely what he has done as president.

Mr. Obama might be justified in taking credit for today’s economy if his successor had adopted and carried on his policies. Instead, Mr. Trump has reversed nearly every Obama rule, edict and law that he can legally overturn. At its core, the Trump economic strategy wasn’t complicated: systematically repeal Mr. Obama’s “accomplishments”—the tax increases, the regulatory blitz on business, the welfare expansions, the war on American fossil fuels, and so on. As a result, the economy would pop like a cork pulled from a shaken champagne bottle.

Liberal economists were convinced that the economic sky would tumble should Donald Trump got into the White House.

  • Former Treasury Secretary Larry Summers: “if he (Trump) were elected, I would expect a protracted recession to begin within 18 months.”
  • From the Washington Post: “A President Trump Could Destroy the World Economy.”
  • Democratic financier Steve Rattner on MSNBC: “If the unlikely event happens and Trump wins, you will see a market crash of historic proportions.”
  • Paul Krugman, after election day: “We are very probably looking at a global recession, with no end in sight.”

It’s a little rich that liberals who warned the economy would melt down under Mr. Trump are now insisting that growth was in the cards all along. If the economy and the stock market had crashed, it’s obvious they’d be sanctimoniously denouncing Trumponomics as a tragic failure.

Moore and Laffer give a final reason to dismiss the idea that Mr. Obama deserves credit for the Trump boom: the economy was decelerating, not accelerating, during 2016.

The growth rate for Mr. Obama’s last year in office was an anemic 1.6%. But the economy turned on a dime the day after the election. Employers and investors realized that the Obama era was over, and they knew intuitively that good things were on the way. Consumer confidence, business confidence, and the stock market all soared. In June 2016 only 32% of Americans rated the economy as “good” or “excellent.” Today 62% do.

Mr. Moore and Mr. Laffer’s book, Trumponomics: Inside the America First Plan to Get Our Economy Back on Track, will be out this fall.

Read more here.

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • Record High Truck Sales Again as the Trump Economy Booms
  • VIDEO: Trump Owns 60 Minutes
  • The Trump Economy Going Strong
  • Author
  • Recent Posts
Debbie Young
Debbie Young
Debbie, our chief political writer of Richardcyoung.com, is also our chief domestic affairs writer, a contributing writer on Eastern Europe and Paris and Burgundy, France. She has been associate editor of Dick Young’s investment strategy reports for over five decades. Debbie lives in Key West, Florida, and Newport, Rhode Island, and travels extensively in Paris and Burgundy, France, cooking on her AGA Cooker, driving through Vermont and Maine, and practicing yoga. Debbie has completed the 200-hour Krama Yoga teacher training program taught by Master Instructor Ruslan Kleytman. Debbie is a strong supporting member of the NRA.
Debbie Young
Latest posts by Debbie Young (see all)
  • Just Don’t Call It “Obliterated” - July 1, 2025
  • The Ugliness of Political Warfare - June 30, 2025
  • Money for Nothing - June 27, 2025

Dick Young’s Must Reads

  • What to Do about China?
  • Conflict Between Democratic Sovereignty and Transnational Progressivism (Globalism)
  • Yes, Your Children Are Listening to You
  • Will Government Spending Spur Hyperinflation?
  • Protection While Traveling in France
  • I Meant to Tell You My Recent “Survival Guy” Story
  • Russian Black Sea Fleet Decimated
  • A Look at the Future of Main Street America
  • How Can You Maximize Natural Immunity to Viruses?
  • America’s Colleges Have Become Progressive Liberal Rat Holes

Our Most Popular Posts

  • Just Don’t Call It “Obliterated”
  • A True America First Foreign Policy
  • What Is Tim Walz's Connection to China?
  • "Surrounded by an Armed Country"
  • NYC's Mamdani: The More You Know, the Worse It Gets
  • China’s Silent Strike: Weapon Targets Electrical Infrastructure
  • The Ugliness of Political Warfare
  • Naturalized Criminals Set to Lose American Citizenship
  • Survive and Thrive June 2025: The Lay of the Land: Who Can You Trust?
  • Donald Trump’s “Faithful Execution of Law”

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • NYC, Crypto, ESG, the Haves and the Have-Yachts
  • Survive and Thrive June 2025: The Lay of the Land: Who Can You Trust?
  • Job Market Remains Strong
  • Chinese Goods Price Increases Outpace Core Inflation
  • From Scroll to Store: How Social Media Is Powering Retail Traffic in 2025
  • Work to Retirement #11: Whatcha Gonna Do?
  • Canada Rescinds Tech Tax, Resumes Trade Talks with U.S.
  • US Investment Gap Narrows in Q1
  • Why the ‘Big Beautiful Bill’ Could Fix America’s Broken Grid
  • Smartphone Satellite Communications Are Here

RSS Yoursurvivalguy.com

  • NYC, Crypto, ESG, the Haves and the Have-Yachts
  • Survive and Thrive June 2025: The Lay of the Land: Who Can You Trust?
  • Dividends: “Because It Works”
  • “Surrounded by an Armed Country”
  • Every Family Should Own at Least One Shotgun: Here Are Three
  • What’s the Best Gun for Home Defense?
  • Work to Retirement #11: Whatcha Gonna Do?
  • Smartphone Satellite Communications Are Here
  • What’s Your Backup Internet Plan?
  • How Does Internet from Space Work?

US Treasury Yield Curve: My Favorite Investor Tool

My Key West Garden Office

Your Retirement Life: Traveling the Efficient Frontier

Live a Long Life

Your Survival Guy’s Mt. Rushmore of Investing Legends

“Then One Day the Grandfather was Gone”

Copyright © 2025 | Terms & Conditions | About Us | Dick Young | Archives