Is Trumponomics Reaganomics 2.0?
While not exactly alike, Trumponomics has enough in common with Reaganomics that pundits are drawing comparisons between the two.
That has raised hopes that Trumponomics – a shorthand term for Donald Trump’s economic proposals – could bring about a 1980s-style boom that would boost the U. S. economy and create jobs.
So let’s see if this comparison has any merit.
Putting Reaganomics and Trumponomics Side by Side
President Ronald Reagan’s goal was to restore economic growth in the wake of the stagnant 1970s. Reaganomics was supposed to consist of four pillars:
Cutting taxes, both for individuals and businesses Reducing government regulation Tightening the money supply (higher Federal Reserve interest rates) Reducing the growth of government spending Reagan mostly succeeded in achieving the first three. However, Reagan ran big budget deficits throughout his two terms – more than triple those of his predecessor, Democrat Jimmy Carter. The national debt grew from $997 billion to $2.85 trillion.
This post was published at Examiner by David Zeiler ‘ November 29, 2016.