America Trends Podcast

EP 849 What Has Donald Trump Done to the Biden Economy?
Years of low unemployment, record stock market gains and a slowing of the rate of inflation under President Jow Biden have given way to an economic muddle in the present under Donald Trump. Are we putting tariffs on allies or are we not? How long can this uncertainty go on without roiling markets and causing companies to hold back on investments? Will we try to extend the tax cuts and lead to an ever- increasing federal debt and will we really be able to bring manufacturing back to the U.S. with these policies–or should that even be our goal? And is much of what economists have seen to date leading to a period of stagflation, like we saw in the late 1970’s? Such are the questions that need to be sorted out in the coming months and years under this administration. Our guest, Michael Hicks, who self identifies as a conservative economist, is the director of the Center for Business and Economic Research and the George and Frances Ball distinguished professor of Economics at Ball State University. He posits that we would know the Administration has serious policy objectives if we saw a plan that includes broad tax increases, targeted spending cuts and a major reworking of entitlement programs. Has anyone seen that plan? Not to date.