Trump’s Economic Plan: This Isn’t Going to Work
Will Donald Trump be good for the US economy?
The American people seem to think so. According to a recent survey taken by Gallup “Americans have relatively high expectations (of) the president-elect… Substantial majorities (upward of 60%) believe the Trump administration will improve the economy and create jobs. A slim majority (52%) say he’ll improve the healthcare system.”
Even more impressive, the University of Michigan Consumer Sentiment Index spiked to a 93.8 -high in November, signaling a significant improvement in overall consumer attitudes about the economy.
Analysts attribute this change in outlook to the recent presidential election which showed a marked-uptick in optimism “across all income and age subgroups across the country.”
“The initial reaction of consumers to Trump’s victory was to express greater optimism about their personal finances as well as improved prospects for the national economy,” said Richard Curtin, the survey’s chief economist.
So, people are not just giving Trump the benefit of the doubt, they genuinely think their economic situation is going to get better under the new president.
The results are particularly significant when we realize that the economy not only topped the list of important issues going into the November elections, but that also (according to a survey conducted by Edison Research) “Three in five voters said the country was seriously on the wrong track and about the same number said the economy was either not good or poor. Two-thirds said their personal financial situation was either worse or the same as it was four years ago. About one in three voters said they expected life to be worse for the next generation.”
In other words, the election was a referendum on Obama’s handling of the economy, in which 60 percent of those surveyed, think was a failure. These results also suggest that, had Obama made any attempt to address wage stagnation, shrinking incomes, student debt, or widespread economic insecurity, Hillary Clinton would probably be president today. As it happens, the victory went to the anti-establishment outsider who promised a fundamental change in direction, Donald Trump.
This is particularly worth thinking about now that protests have broken out in cities across the country and liberals are accusing Trump supporters of voting for a racist. No, the majority of Trump supporters did not vote for a racist (surveys also show that a majority of these people support a way for undocumented immigrants to attain US citizenship) nor do the approve of the white nationalist movement. They voted for someone who they thought would change the economic policies that have been destructive to their interests. Trump won the election because he addressed the issues that matter to ordinary working people and refrained from such foolishness as running around with his hair on fire blaming the Russians for everything under the sky. Hillary Clinton got exactly what she deserved.
Now the question is: Can Trump deliver?