This is the Obama economy. Give the tax cuts time to settle in, then the government time to make cut backs due to the tax cuts from Trump and the GOP and the economy will tank. As it is, Trump already generated fewer jobs in his first term than previous years. The economy is slowing under him. It will continue to do so. Everything is on a lag. The economy needs time to react to the social policies a government sets. Generally, we are experiencing the effects of the tax/social welfare/banking/labor policies of of an administration a year after they are implemented though some policies have faster or slower effects. Unfortunately, Americans aren’t always smart enough to figure that out. What has Trump done policy-wise to slow job growth already? He has cut social programs such that 3 million more people are uninsured. While the poverty rate is down, the extreme poverty rate is up.

A slight, and I mean slight down tick in poverty because of the lower unemployment rate is great. Meanwhile, because of getting rid of social programs, the people who are not helped by a job are in more dire straits. That means this group of people in extreme poverty is getting hookworm and generating reports about our Third World conditions for the United Nations. From the Wall Street Journal:

By the third quarter of 2017, total household debt had exceeded its pre-financial crisis peak by $280 billion, according to a report by the Federal Reserve Bank of New York, which also warned of rising delinquencies on credit cards and auto loans. For much of last year these concerns weighed on the shares of listed credit-card and auto lenders.

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