BERKELEY HEIGHTS, N.J. — President Donald Trump said Sunday the economy is "doing very well" and dismissed concerns of recession, offering an optimistic outlook after last week's steep drop in the financial markets.
"I don't think we're having a recession," Trump told reporters as he returned to Washington from his New Jersey golf club. "We're doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they're loaded up with money."
Larry Kudlow, Trump's top economic adviser, also played down fears of a looming recession and predicted the economy will perform well in the second half of 2019. In Sunday television interviews, he said that consumers are seeing higher wages and are able to spend and save more.
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Yeah, Delmarva is “rich”!, “Loaded up with money”!
ReplyDeleteThose tax cuts gave the wealthy more money... it did nothing for the average American... in fact many of us payed more. Consumers being rich is hogwash. The rich got richer.
ReplyDelete1017, I, like almost every working American, paid less in taxes last year. I'm sure if you compared your tax records, you would see the same, assuming you did in fact work.
ReplyDelete1042 you are right. Vast majority did see a lower tax bill. The problem is most saw pennies in tax savings relative to the rich. This blew a huge hole in the budget and for what? Trump's job numbers 29 months into his presidency were weaker than Obama's last 29 months without a tax cut. Basically you should all see now that the tax cut was another sham that did not/will not pay for itself. That promise was as empty as "Mexico will pay for the wall". Even bigger, you should see that its a fallacy to say "cutting taxes on the rich creates jobs". As always, the rich are out to make money. Consumer demand is what creates jobs.
ReplyDeleteRecession is coming. NOTE not because of anything Trump or Obama did. Just a natural part of the business cycle. I'm just waiting on conservative to come out and spin the recession as being caused by Dems (even Obama). LOL
ReplyDelete10:42am
ReplyDeleteNo, I heard of many people who ended up having to pay much more in taxes than they normally do. People who used to get refunds and had to pay more this year. These were all "working" people and we're not "loaded up with money".
That's because they paid less throughout the year. Overall tax burden was reduced.
DeleteThat's true, I know em' first hand. The gov't whoever is President is a corrupt, wheel and deal place.
DeleteThe whole idea of having more in your pay check is not to go out and spend it. It's to put it to work for YOU earning before you have to pay the fed.
ReplyDeleteThe Fed no longer allows recessions.
ReplyDeleteMoney printing (debt to bankers) solves all ills.
The US Dollar does not suffer, because the US Military defends it (forces others to accept it in exchange for commodities and labor).