A few weeks ago, President Trump surpassed his 500th day in office. That's a good vantage point to appraise his economic policies to Make American Great Again.
Over at the Library of Economics and Liberty's Econlog, I offer my assessment. It's not good.
This may seem surprising, given current economic conditions. But economic policy isn't merely about the current moment, but predominantly about improving economic conditions long-term. Aside from a couple of provisions in the December 2017 tax law, President Trump has done precious little in that regard and much to harm the economy long-term, from borrow-and-spend fiscal policy, to disastrous trade and immigration policies, to disinterest in serious regulatory reform, to his refusal to face the country's dreary long-term fiscal challenges.
From my conclusion:
MAGAnomics appears to be little more than an impulsive dislike of free trade and immigration, a hazy desire for less regulation, disinterest in (or perhaps a lack courage to face) the nation’s long-term fiscal problems, and a desire to temporarily lower taxes without making the hard choices necessary to fiscally balance those cuts and make them enduring. In other words, MAGAnomics is a slogan supporting a few weak and many harmful initiatives, not a serious collection of policies thoughtfully designed to strengthen the nation’s economic health.
Take a look and see if you agree.