Saturday, April 29, 2017

A Report Card on Trump’s 100 Days

April 28, 2017 by Dan Mitchell @ International Liberty

Back in March, I wrote a 50-day assessment on Trump’s presidency.

I listed six questions and mostly concluded that there wasn’t enough information to give accurate answers. In other words, if Trump was a student, he would have received an “I” for incomplete.
Now that we’re at the 100-day point, I’m tempted to say that his grade hasn’t changed.

We still don’t know what he’ll do on issues such as the entitlement crisis, the border-adjustable tax, infrastructure, and red tape.

But I feel compelled to issue another report card, so here’s my take on the Trump’s economic performance, based on the five big categories from Economic Freedom of the World.

  • Fiscal Policy – Trump has proposed a good tax cut, though I fear it won’t go anywhere because a sufficient number of squeamish Republicans will feign concern about deficits. That excuse wouldn’t exist if the White House and congressional GOPers were more serious about spending restraint, so there’s plenty of blame to go around. Though I’m nonetheless hopeful that the corporate tax rate will be reduced. Trump Grade: B
  • Trade – Trump has moved policy in the wrong direction, but I’m weirdly relieved that he’s being somewhat restrained. He decided China is not a currency manipulator and he decided that the U.S. should remain part of NAFTA. In other words, he been doing a lot of saber-rattling, but fortunately not drawing too much blood. That being said, he is imposing new burdens on consumers and taxpayers. Trump Grade: D
  • Regulation – This is Trump’s best issue area. He’s rolled back some Obama-era regulations, which is a good start. And he’s made some very sensible appointments, which means there’s hope of ameliorating the statist orientation of bureaucracies such as the FDA and the FCC. Trump Grade: B
  • Monetary Policy – I have no idea how to assign a grade. Trump hasn’t said anything, much less done anything, on monetary policy. Trump Grade: I
  • Rule of Law – Trump has been aggressive with executive orders, which worries me even if I happen to agree with the underlying policy. The White House hasn’t tried to flout court decisions, however, so that’s a good sign. The appointment and confirmation of Justice Gorsuch also bodes well (assuming he doesn’t “grow in office” like Justice Roberts). Trump Grade: B
Overall, Trump’s GPA is better than I would have predicted before the election, so I’m pleasantly surprised. But there’s still a long way to go before final exams.

P.S. Trump also has generated some first-rate political humor, which is always appreciated. In that sense, he’s no different than his predecessor.

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