Fox News is by far Trumps most important propaganda arm. It tweeted that Trump was working in the White House last week end. Apparently, the alert was to counter concerns that Trump was spending week ends at his resort in Florida playing golf. There are at least two problems with Fox tweet. In the first place, it is hardly the kind of information that would warrant an alert from any source of real news. Moreover, it was not entirely true. Trump played golf at a Trump course in Virginia over the weekend. He may have hoped to meet some of his populist supporters on the golf course.
The more important news about Trump is that unlike almost every Republican he is really a Keynesian at heart. His plan to cut taxes and increase investments in infrastructure and the military is a classical Keynesian method of stimulating the economy. Republicans obstructed Obama's efforts to stimulate the economy following the financial crisis. They only support Keynesian economic policies when a Republican is in the White House. Ronald Reagan used the same approach to stimulating the economy during the "Reagan Miracle".
The bad news is that Trump's failure to pass his healthcare bill may affect his plans to stimulate the economy with huge tax cuts and spending on infrastructure. The stock market had been expanding because investors anticipated a Keynesian stimulus to the economy. That expansion may be ending. from the highs that enjoyed while investors believed that Trump would be successful in his use of Keynesian economic stimuli.
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