Everyday Economics Economic Considerations as We Enter the First 100 Days
Jan 23, 2025
Delve into the economic priorities facing the newly inaugurated president, from federal cuts to tax collection changes. Discover the looming challenges of budget deficits and the complexity of entitlement spending. The conversation also highlights a strong labor market but raises concerns about potential economic overheating. Finally, regulatory constraints and local financial awareness take center stage, emphasizing the importance of monitoring consumer prices effectively.
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Economic Focus of the 2024 Election
- The 2024 election heavily focused on the economy and differing visions for the future.
- President Trump's first 100 days have a substantial economic punch list, including the "Doge" initiative, tariffs, and a new "external revenue service".
Skepticism about Proposed Economic Policies
- Dr. Divounguy expresses skepticism about the proposed $2 trillion in federal budget cuts and the effectiveness of tariffs.
- He believes deregulation is a positive step but expresses concern about a potential tax increase with the "external revenue service".
Focus on Domestic Growth and Infrastructure
- Chris Krug suggests focusing on growth and infrastructure within the United States.
- He advises pulling back on international spending and concentrating on domestic recovery post-COVID.