Quote (Black XistenZ @ 18 Jul 2018 23:54)
I dont deny that Trump broke this promise and that the GOP's handling of the deficit is super hypocritical.
he expanded spending. but with a roaring economy, tax revenue will automatically go up as well. I dont think we'll be able to assess his fiscal legacy until several years after he's out of office.
and for the record: I didnt agree with the very corporate-heavy prioritization of the GOP tax bill, and I strongly suspect that it will increase the deficit in the long run. but trying to jump to this conclusion right now is way too early.
i totally agree with you that we can say only say for sure how EXACTLY his policies affected debt after he left office - but those aren't just wild, politically motivated speculations, those are projections based on policy as they have been made for every president - i'm sure with your more than basic economic knowledge you're very well aware of that and see how that's not unreasonable, even just based on common sense...
btw, what's also not included yet is the possible impact of the trade wars he started - at this point ofc the range would be massive as no one can know how bad he will escalate them, and what america's trading partners will end up doing.
i just thought i'd mention it since at some point a somewhat closed off american market could result in the debt that's currently being sold internationally to offset trade deficits, having to be sold domestically - which would further stunt the (already overestimated) growth that was expected to offset the additional debt made by taxbreaks...
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