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What Lifted Trump Could Sink Biden—Project Syndicate

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J. Bradford DeLong: What Lifted Trump Could Sink Biden https://www.project-syndicate.org/commentary/austerity-will-kill-the-income-growth-that-helped-trump-by-j-bradford-delong-2020-12?referral=8420da: ‘Donald Trump managed to receive 74 million votes despite countless failures for the simple reason that he presided over three years of a high-pressure economy in which wages grew rapidly. If the Democrats ignore this lesson or listen to fiscal hawks already pushing for austerity, they will face a painful reckoning in 2024. Very few of the people who voted for US President Donald Trump in the 2020 election are plutocrats who benefited from his and congressional Republicans’ tax cut, or even wannabe plutocrats who can hope to benefit from it in the future. Some Trump voters doubtless are

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J. Bradford DeLong: What Lifted Trump Could Sink Biden https://www.project-syndicate.org/commentary/austerity-will-kill-the-income-growth-that-helped-trump-by-j-bradford-delong-2020-12?referral=8420da: ‘Donald Trump managed to receive 74 million votes despite countless failures for the simple reason that he presided over three years of a high-pressure economy in which wages grew rapidly. If the Democrats ignore this lesson or listen to fiscal hawks already pushing for austerity, they will face a painful reckoning in 2024. Very few of the people who voted for US President Donald Trump in the 2020 election are plutocrats who benefited from his and congressional Republicans’ tax cut, or even wannabe plutocrats who can hope to benefit from it in the future. Some Trump voters doubtless are very focused on the installation of right-wing judges on the federal bench. But many among the 74 million who voted for Trump did so for other reasons…


.#highlighted #macro #orangehairedbaboons #politicaleconomy #2020-12-24
Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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