Economy

Trump crony, Tea Party leader, OMB Director, former-interim director of Consumer Financial Protection Bureau, and Acting White House Chief of State.... Sounds like Mick Mulvaney is basically running our government and Trump's newest best friend.  Back in August 2018, before adding Chief of State to his resume, you likely missed what good ole Mick was up to: harming our military men and women and their families.

Per the Murdoch-owned, conservative Wall Street Journal, Trump is an idiot.

The U.S. trade deficit looks almost certain to expand in the year ahead, and that will have important consequences for the economy.

Trump has pledged to narrow the trade deficit, but in 2018 it has widened instead, coming to $503 billion in the year through October versus $451 billion over the same period in 2017.

Over the past two years, Trump and Republicans have pushed through a massively unpopular tax cut that drastically lowered taxes on the wealthiest people and corporations.  This caused a massive budget deficit. 

Their solutions to the unfathomable loss of revenue to fund our government is save money by hurting the lower and middle class any way they can.  In this case, Trump has canceled the 2019 pay raise for federal employees.  

Around $150 million in student loans will be cancelled in accordance with an Obama-era rule that is being implemented by the Department of Education after over a year of Betsy DeVos trying to block it.

The Department of Education said Thursday that it would wipe away student debt for 15,000 borrowers, implementing an Obama-era rule that Betsy DeVos has fought to block for more than a year.  The debt cancellations will total about $150 million.

Actions have consequences and the Republican leadership's xenophobic immigration policy is stopping the best and the brightest from coming to America.  Historically, students have come from across the globe to study at our universities and then contribute to our society, growing our economy and strengthening our nation'a future.  Not anymore.

The Republican tax scam in late 2017 was known by all intelligent people to be a massive giveaway to the wealthiest Americans and largest corporations.  Most everyone else besides them would eventually see their tax burden INCREASE.  If you're reading this web site, you know this already so instead let's share some new analysis from mid-November on the impacts after one year.

Nearly a year after the tax cut, economic growth has accelerated. Wage growth has not. Companies are buying back stock and business investment is a mixed bag.

During the Obama years, Walmart, Barclays, and RBS complained that the admin was being unreasonable about investigations. After Trump took office, they looked to the Trump admin for a more sympathetic ear — and got one

Trump has started a trade war with China at the behest of a couple almost entirely unknown advisors.  The impacts are negative to our economy, our business owners small and large, our consumers.... everyone.  

Almost half of all Chinese imports into the U.S. are now subject to a tariff, for a total of $250 billion. China has already retaliated with tit-for-tat tariffs on billions of dollars of imported U.S.-made goods, noting earlier this month that trade officials there would not be swayed by Trump's tactics.

Trump administration officials and many Republicans are so lost in their bubble they sometimes say out loud exactly the evil they plan to do.  It's as if their stupidity overtakes their evil for a moment and they give up their entire game plan to us.  Is anyone paying attention?

A top economic adviser to Trump said on Monday [9/17/18] he expects.... there would likely be an effort in 2019 to cut spending on entitlement programs.  Kudlow did not specify where future cuts would be made.

Nothing is more emblematic of the Trump doctrine than to spit in the face of a poor, homeless American.  Conservatives love to make it sound so simple.  Just pull yourself up by your bootstraps they say.  WHAT IF YOU HAVE NO BOOTS?  What if you literally have nothing?  These safety net programs are the last resort for millions of Americans.

Trump favors imposing stricter requirements on adult recipients of the Supplemental Nutrition Assistance Program, known as food stamps, and has disparagingly described beneficiaries as “welfare” recipients.