Peter St Onge Podcast Ep 113 Weekly Roundup: Dems Kneel on Govt Shutdown
Mar 24, 2025
This week covers the shifting tides of U.S. politics and its impact on the economy. Discussions reveal proposed tax reforms that could eliminate income tax for many, sparking debates on small business growth. Europe's military spending dynamics are shifting under U.S. pressure, raising questions about defense and welfare. Inflation takes center stage, with studies showing a notable decrease. Tensions with China are explored, highlighting their economic weaknesses amid fears of a Trump resurgence.
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Democrats' Shutdown Strategy Shift
- Democrats abandoned government shutdowns, fearing Trump would lay off federal workers.
- This clears the way for Trump's agenda, including raising the debt ceiling.
Tax Cut Proposal
- Consider eliminating income tax for those earning under $150,000 to stimulate growth.
- Address potential downsides like increased taxes on small businesses and the wealthy.
European Defense Spending Surge
- The EU plans to increase defense spending substantially, potentially reaching US levels.
- This shift is partly due to Trump's pressure on Europe to take on more defense responsibility.