The Economic Landscape: Challenges Ahead

This chapter explores the historical decline in American living standards since the 1973 recession and how tax policies have failed to address the needs of lower-income individuals. It discusses the anticipated financial implications of tax cuts under the new administration, including their effects on deficits, interest rates, and inflation concerns. Additionally, the chapter examines the political dynamics and challenges surrounding fiscal policy, particularly in relation to tariffs and Trump's economic plans.