LETTER: The Trump boom or the Obama boom?
Ask any partisan who deserves credit for the booming economy. Democrats thank Barack Obama and Republicans credit Donald Trump. It’s a little of both.
When I was a promoter, the boss never gave me credit for a record-setting engagement. After one successful event, I was hoping for an “atta-boy.” Instead, I got, “Of course … it’s a great show.” Was it really just the show? Not totally.
Whether it’s a show’s ticket sales or the economy, results are cyclical. If it’s destined to be up or down, a president’s policies or a promoter’s efforts determine only the degree of success or failure. If the economy is in an up-cycle, policies will determine only if the upside is great or small.
Mr. Obama rode an up-cycle, but his policies of higher taxation and burdensome regulations limited positive results and led to the worst economic recovery in our history. Mr. Trump also inherited an up-cycle. But his policies lowered taxes and cut regulations, resulting in record-setting low unemployment and higher wages impacting all demographics.
That’s the difference between an OK promoter and a great promoter.