Morning Wire Trump vs. Inflation: Can He Fix the US Economy? | 12.14.24
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Dec 14, 2024 E.J. Antoni, a Heritage Research Fellow and economics expert, delves into the feasibility of Trump's policies in addressing the US economy's challenges. He critiques Biden's administration amid rising inflation and job market concerns, particularly regarding the impact on American workers. Antoni suggests deregulation and tariffs as potential strategies to combat inflation, and he discusses Trump's proposal for expedited investment approvals to invigorate economic activity. The episode offers a provocative look at what lies ahead for the US economy.
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A Strong Economy?
- EJ Antoni questions Biden's claim of leaving Trump the "strongest economy ever."
- He points to higher inflation, fewer employed native-born Americans, and increased government spending as contradictory evidence.
Job Growth and Demographics
- Net job creation under the Biden administration has primarily benefited foreign-born workers.
- Government employment has grown significantly, while full-time job numbers have decreased.
Inflationary Concerns
- Inflation is re-accelerating, partly due to government spending and the Federal Reserve's interest rate cuts.
- Antoni believes this creates a "ticking time bomb" for the incoming Trump administration.