Trump Administration Week 5 Journal Assessment

Week 5 Journal Assessment

Bria’na Jade Warnock

Georgia Military College

Chuck DeVore’s main point of his article was to show how the Trump Administration has increased economic growth, employment rates, and business affairs. The author showed his point by presenting statistics, and by comparing and contrasting throughout his article. According to Forbes, the United States economy grew at an annual rate of 3.2% within the first quarter of President Trump’s presidency (2019.) Throughout the “Make America’s Economy Great Again: Q1 GDP UP 3.2%” article, the author shows how the Trump Administration has beaten his predecessor statistically by increasing the employment rates, economic growth, and revenue for the economy. President Trump’s tax reforms have increased consumer spending, number of jobs, and the increase of the production of businesses. The tax reform called the Tax Cuts and Jobs Act, has benefitted 33 low-tax states more than it has benefitted the 17 high-tax states, but this reform is just the beginning because President Trump is still fighting for reforms.

The Keynesian Theory of Macroeconomics states that the government should play a positive role in the stabilization of the economy. I personally feel like President Trump’s tax reforms are playing a positive role because he is creating jobs. In the past ten years, the unemployment rate of the economy has decreased by about 6%, but it has decreased more in the past four years due to Trump’s reforms. Since this president has been in office, he has ended up creating about 4.2 million jobs (White House, 2018.) Therefore, I believe that this article depicts the Keynesian Theory in a way. Low-tax are mostly affected by the situation in this article because the tax reform limited state and local tax deductions (Forbes, 2019.) This article shows what we have been learning the past two weeks by showing how the economy fluctuates and how something as simple as tax reforms can affect consumer spending, which in return can change the curvature of aggregate demand and aggregate supply. I personally agree with the author because the Trump Administration has helped the economy in the long run. I like how the author used comparison with the president’s predecessor and statistics to prove his point.