Nothing. The CBO generally performs linear, projections, they are expected to be wrong.
Trump's projections were horse manure, we all knew that at the time.
Trump was about cutting taxes for cutting taxes sake. Of course he lied, he lied in the same way the Obama lied about the expected cost of ACA.
What does a lying politician have to do with economics? Well, I suppose there is a herding effect, as seen in the market ups and downs on trade statements. But the reality is that politicians lie, it is a requirement of the job. Trump is great at it, Obama not so good.
The politically theory is that one regime lies quite a bit and eventually gets caught. So if economists want a theory about why Trump got elected they might start by asking how often do republicans and democrats trade the office? They alternate every eight years, with one exception since 1980. Trump got elected because Obama lied about the premium costs of Obamacare, plain and simple. A Dem will be elected in four years because Trump caused rates to rise or caused a monetary Nixon Shock.
No comments:
Post a Comment