Day: February 11, 2018

 

Sizing Up the Trumponomics Gamble on Deficit Spending and Inflation

Two of the biggest legislative deals in Donald Trump’s presidency—a $1.5 trillion tax cut and a $300 billion spending package—illustrate an emerging feature of Trumponomics: a willingness to tolerate larger budget deficits deep into an economic expansion. Deficits normally swell during downturns, when tax receipts fall and spending rises on unemployment insurance and other safety […]