May 4, 2017
How is the Economy Doing So Far Under President Trump?
There have been many different opinions about the economy so far under President Donald Trump. According to CNN money, there is reason to be mostly positive about the current state of the economy. In the first three months of the year, there was growth, though it was slow. However, it is also known that Trump cannot take responsibility for the first three months of the year as far as the U.S. economy is concerned. His policies haven’t had time to work through the economy.
Others are more skeptical. Washington Post criticized the first three months of the year, stating that after the government reported that the American economy expanded in the first quarter of this year at its slowest pace in three years, Trump got a glimpse at how far he needs to go to bring growth to the economy.
On Monday, Warren Buffett said that President Donald Trump has not yet contributed much to the economy of America. On CNBC’s “Squawk Box,” the billionaire investor stated, “I don’t think he’s had that much of an effect on the economy yet.” He went on to say, “I do not make investment or business decisions based on who is president or who I think is going to be president. I have never called a president in my life. Never.”
Donald Trump said that his tax cut would pay for itself. However, most economists don’t agree. While Trump’s main platform in the election was “making America great again,” which largely focused around economic improvement, that has not been the case, and top investors like Warren Buffett have been there to point this out.
It is not clear at this point whether President Trump will be a good force for the U.S. economy. Some economists are arguing that Trump will be a good thing in terms of perpetuating economic growth while others state that he will not. All we can do as economists is jwatch carefully.