The Trump budget just started. I mean it would be kind of unfair for him to take credit for obama's budget.
Hopefully, the market reverses course (it likely will). But that said, trump made a number of risky moves (replacing Yellen, tax cut, over promoting the market), and now owns responsibility. ‘The president clearly set himself up’: Trump’s stock market miscalculation https://www.politico.com/story/2018/02/05/trump-stock-market-down-324880
Keep in mind that it takes time to see the effects of a Presidents policy on the economy. Just like Bush inherited a shrinking economy, Trump inherited a growing economy. This economy is more of a result of the success of the Obama administration than the Trump administration. Let's look back at our fiscal health in another year-and-a-half and reassess.
I’m sure libs will eagerly use the stock market correction the last two days to attack Trump. Doing so really illustrates their economic naievte. This drop is not due to earnings, policies, or political news. This drop due to worries about potential interest rate hikes and inflation as a result of the blistering Q1 GDP growth forecasts and wage growth reported last week. In effect, the Trump economy is charging ahead more quickly than most expected. Investors seem to have gotten used to Obama’s zero percent interest rates and sub 3% growth. A rapidly growing economy seems to have spooked them.
Maybe I actually will have lower taxes in 2018. Not quite the route I wanted to take to get there though.
