Trump's own economic advisors are predicting less than 3% annual growth for the next decade. More from hiltzikm:
None of these is a political slam-dunk, especially with a Democratic House likely to devote greater scrutiny to Trump policies than they received from a Republican majority.
As for the deregulatory initiatives, the economic report underscores another issue of Trumponomics: Whose GDP are we talking about?They include eviscerating the National Labor Relations Board’s Obama-era effort to crack down on misclassifications of employees as “independent contractors,” which deprives those workers of protections against workplace abuses. The Trump NLRB has stopped that crackdown dead.
Trump also is trying to eviscerate environmental regulations that promote clean air and water free from contamination by industrial pollution. He’s trying to roll back regulations on auto emissions and fuel efficiency designed to reduce greenhouse gases and smoky exhaust. And he has emasculated the Consumer Financial Protection Bureau’s ability to regulate consumer lenders.
Lumped in with the deregulation initiatives are the efforts by Trump and his Republican enablers to undermine and effectively repeal the Affordable Care Act. The economic report asserts that eliminating the individual mandate’s penalty for failing to carry insurance, a change that went into effect this year, will create a “total net benefit” of $204 billion over 10 years.
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