MSNBC Calls Trump Tax Cuts-Spurred Economic Growth a ‘Sugar High’
RUHLE: "All right. Now time for money, power, politics. Today we're looking at the Trump economy and new questions about the sugar high we’ve seen from corporate tax cuts could be wearing off. Politico’s chief economic correspondent Ben White laid it all out in a brand new article that I encourage you to read this morning. He’s also the author of Politico’s Morning Money Newsletter. He joins me now. Okie doke."
RUHLE: "Lay out the sugar high for me."
WHITE: "Sure. Well we had $2 trillion last year in tax cuts and government spending. That helped boost growth. This year it's going to start to fade next year. The White House hopes that the corporate tax cuts continue to bear fruit going forward and there's more capex, capital expenditure, all the rest of it. But most economists say that's not likely to happen. So you lose $2 trillion in stimulus, interest rates are going up. The market is having a lot of problems particularly with trade war fears. So, a lot of things adding up that could make Trump's economy not look quite so hot in 2019 and going into 2020."