Election day is behind us as we went to vote without any idea of what Trump’s or Biden’s Economic Plans are. Both presidential candidates assured us they would take the United State through the path of Economic recovery.
Trump said he would take the country to the best Economic position that it had ever had. Biden assured that in controlling the Covid-19 Pandemic, he would drive the country to a favorable position to recover the Economy.
In the past 4 years, Trump did a tax cut and some business deregulation in accordance with the Republican Principles. But later, he engaged in a trade war against the world that has had disastrous results.
Glenn Hubbard, Professor at Columbia University and a GOP advisor for many years, confirmed that the election winner has several opportunities already identified in the path to recovery such as:
- Fixing problems with the health-care system.
- Promoting international trade in a way that engages our allies.
- Fiscal reform to control the deficit.
- And many other areas of opportunity for improvement.
Without Economic Planning, the citizens are full of hope, assuming that the elected president will follow the party lines. But it is clear that Republicans and Democrats do not have a strong political economic ideology but instead erratic behavior in order to secure and maintain their power and jobs.
Eventually the new president will submit an Economy Recovery plan that help businesses and people to take their decisions that will be the beginning of the US Economic Recovery.