Here’s what Trump’s economic agenda might end up looking like.
Which raises the possibility of a nightmare scenario for economic progressivism. It goes like this: Increased spending helps boost the economy, which is already accelerating, even as Republicans give the credit for it to tax cuts (especially at the top) and deregulation, validating their narrative that Big Government under Obama is what held the economy back from its full potential until President Trump unshackled it.
It’s possible that Republicans run large deficits on tax cuts for the rich, military spending, perhaps some infrastructure, while also deregulating finance, energy, and other industries and running a massive deportation project of undocumented workers.
A nightmare scenario would be the spending from the first leading to a strong economic rebound from the Great Recession — what John Galbraith would call Reactionary Keynesianism — and the GOP and voters crediting that rebound to deregulation and immigration.
If you were at any of my #kilkenomics sessions over the last four days, you heard exactly this argument from me. https://t.co/EjvI6w6Kzz
— Stephanie Kelton (@StephanieKelton) November 13, 2016
Source: A nightmare scenario for progressives under a Trump presidency – The Washington Post