Here’s hoping President Donald Trump will deliver a rousing speech tonight showing how he intends to unleash prosperity in America.
I’m hoping for a growthier speech, with plenty of tax cuts.
The President is riding high in popularity, with nearly 80-percent favorable ratings on things like the border, deportations, eliminating waste, fraud, and corruption, disempowering the entrenched bureaucracy, rolling back onerous regulations, unlocking new energy production, and reciprocal fair trade.
Put the whole package together, and you have a major booster shot to economic growth, while inflationary pressures and costs come down.
Right now, the Biden legacy is showing up in weaker and weaker numbers. Housing is soft, business investment is down, manufacturing is slumping, even consumer spending coming in weak. The Bidens have not only left Mr. Trump with a slump in the economy, but $2 trillion deficits as far as the eye can see, and a massive expansion of federal debt.
But every time the stock market hiccups, liberals try to blame tariffs.
Well, the fact remains that Mr. Trump is trying to break through an unfair trading system that has penalized American companies, with his brand of reciprocal and fair trade reform.
The idea that tariffs are inflationary is poorly thought out.
Vast government spending and money-printing cause sustained inflation. Mr. Trump is working against that.
In the short run, trade actions might cause one-time temporary, minor price increases, but not long-run inflation.
President Trump is doing his best to reform the broken world trading system and defend American interests.
Over time, by the way, reciprocal trade could bring tariffs down, not up. And his reciprocal trading policy could bring large-scale supply-side benefits to the American economy.
I think most importantly for this evening’s speech, though, I’d like to see President Trump forcefully ask Congress to pass his tax cuts and deregulation budget reconciliation bill, and make the tax cuts permanent — including Trump 2.0 cuts like tax-free tips and overtime and relief for seniors.
Use the appropriate baseline scorecard, accurately reflecting that the 2017 Trump tax cuts produced huge revenues.
And hopefully Mr. Trump will forcefully point out that people who vote against his tax cut plan will be voting in favor of an at least $4 trillion tax hike that will absolutely decimate whatever is left of the economy he inherited from Joe Biden.
Let’s pass one, big beautiful bill by Memorial Day, so we can have one, big, beautiful blue-collar boom that will fatten wallets and unleash prosperity for all Americans.
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