When Donald Trump was running for President, he promised to reduce government red tape that was stifling growth and job creation by cutting two government regulations for every new regulation. Well, CNN and MSNBC can now accuse him of breaking that promise. According to a new study by the American Action Forum, he’s actually cut 3.75 regulations for every new one. They estimate that this represents a net savings to the economy of $686.6 million.
It’s been amusing to hear so many Democrats and media figures (but I repeat myself) trying to give credit for the recent robust economic growth to Obama. They insist that it was his policies that pulled us out of the recession (at the slowest rate in post-war history) and started growth and job creation again (anemic growth that we were assured we couldn’t exceed because slow growth was the “new normal” and it was foolish to think manufacturing jobs were ever coming back to America.)
What actually happened is that many businesses were sitting on capital but were afraid to use it for fear it would be taxed away if they brought it back from foreign markets or that they’d need it in the future to survive whatever new anti-business regulatory curveball would be hurled at them next. With Trump’s election and his keeping his promise to cut taxes and regulations, the businesses that drive the economy finally felt free to shift out of Park.
I’ve actually heard some people recently trying to make the same argument for Jimmy Carter: that he really set up the foundation for the ‘80s boom and Reagan merely inherited it and got credit for it. Which is absurd to anyone who lived through those times and remembers the disaster Reagan inherited and the complete economic overhaul that he put into place, to much fury and ridicule from the left.
Still, you have to feel sorry for these poor Democratic Presidents. No matter how long they’re in office or how many brilliant new government programs to goose the economy they create, it never seems to show any life until after they leave and then the Republican who replaces them gets the credit. It’s so unfair! For some reason, economic growth just never kicks in until after the liberals who really deserve the credit for it are kicked out.
LEAVE ME A COMMENT BY CLICKING HERE. I READ THEM!