Sunday, January 28, 2018
A Picture of Economic Growth In Global Economy
Donald Trump brags about economic growth in US which he claims is the result of his policies. Indeed economic growth has been good in the US but it has also been good across the globe with only a couple of exceptions. This article provides a global map of economic growth rates. It looks more like the consequence of global recovery from the Great Recession than it does to American exceptionalism. Trump's tax cuts will add a bit to the US growth rate at the expense of future budget deficits. Trump and the Republican Congress is happily engaged in Keynesian economic policies which they criticize when Democrats are in office. Budget deficits do pump money into the economy. The bad news is that nothing has been done to decrease the trend of rising income inequality.