recession

The Federal Reserve isn’t the only Deep State institution that would like to affect the 2020 election in opposition to President Trump – Silicon Valley comes quickly to mind as an equally malign influence – however, as our friend Dr. Ron Paul observed in a recent  column, they are not a state within a state in the same way that the Federal Reserve is.

From our perspective we think Ainsley Earhardt of Fox and Friends had it right when she laid the blame for the growing talk of an economic recession on the media's attitude against Trump. “They do not want him to win again and they don’t like that the economy is doing well, apparently," said Ms. Earhardt.

The deregulation agenda under Trump is likely to accelerate in 2019 and 2020 as the one lever the Executive Branch has to clear roadblocks to growth. Wages are rising now for the lowest-income Americans, as The Wall Street Journal recently reported. That should keep consumer spending at a healthy clip. Trump chief economist Larry Kudlow says that "a recession is so far in the distance I can't see it." Nor can I. The only ones who can see it are the Trump haters who want it to happen.

The entire Clinton recovery agenda is to spend $1 trillion more on government public works programs, free day care and college education, and expanded entitlements. She would raise investment and personal income tax rates (paid by many small businesses) to finance all of this.

Not only did poor Americans give more in 2012 than they did before the Great Recession, but the bulk of donations in the U.S. came from states that voted for Romney. Meanwhile, the seven worst states for charitable donations voted to re-elect Obama.

House Repubs. next week will pass a legislative package aimed at making federal regulations more transparent and less costly to the economy. The legislation is the GOP's latest attempt to reduce the regulatory red tape that they say is stifling job creation.