The CBO says “hi” to the economic brain trust in the Cove
https://twitter.com/steventdennis/status/1222236699146752004?s=21
The tax cut that the Trump Admin said would pay for itself?
Yeah .... not so much.
This tax cut, mostly for wealthy and corporations, was passed with FULL KNOWLEDGE that there were no corresponding spending cuts. That’s why it was sold as “growth will pay for it.”
If you have children or grandchildren, by supporting a tax cut now, you’ve reduced their quality of life later, right?
Btw, the Fed actually had to pump funds - and continues to do so - because the deficit financing crushed the liquidity in the overnight market.
Think about that for a second. That’s sound fiscal and monetary policy in the throes of an eight year bull market?
Chickens. They do come home to roost.