President Trump’s Economic Policy—
Thursday, March 02, 2017 11:55 AM
With respect to Mr. Trump’s economic policy and conservative ideology, I would offer that there is nothing conservative about billionaires and their bankers running the government. There is nothing conservative about Republican investors pushing the stock market above 20,500.
Speculation is not conservative.
U.S. company earnings for 2016 were higher than expected. These higher earnings have little or nothing to do
with Mr. Trump’s election and his so-called conservative economic program. These improved company results were due to President Obama’s policies, and are based on the extraordinarily effective monetary and financial policies
put in place by Obama at a time of crisis. They include
his bailout of Wall Street and the U.S. auto industry. President Obama’s economic policies were truly conservative. These policies conserved our way of life. The proof is
that these policies protected our economic system, saved
us from economic collapse, lowered unemployment to 4.5 percent and created the climate for the stock market to reach 20,000 before Trump took office. In fact, growth of the
economy was not constrained by Dodd-Frank or the Volcker Rule, but by the intransigence of the Republican
Senate under Mitch McConnell and the Tea Party in
Congress. Their efforts to undermine the Obama administration helped convince bankers to keep lending to a minimum.
There is nothing conservative about Republican investors jumping into the market because they assume that Mr. Trump will be successful in pushing through a tax cut
for the rich and banking and financial deregulation by eliminating of Dodd-Frank. Mr. Trump is not a conservative
and never was, even when he was an undisciplined Democrat. His greedy and undisciplined friends are salivating
at the possibility of making more money off the destruc-
tion of the American economy. We must beware of so-called conservative ideology that is basically avarice and cupidity.
Andrew Stancioff, Spruce Head