For the past 2 years, critics of President Donald Trump have predicted all kinds of gloom and doom including the compete destruction of America. These critics believe that instead of protecting and restoring freedoms to the American people that Trump will ultimately eliminate many of those freedoms (it’s no coincidence that they accuse Trump of doing exactly what they intend to do if given the chance).
Among the gloom and doom predictions are those involving the economy. Many liberals and socialists say that Trump’s tax cuts and spending will eventually cause the economy to decline. The bottom line is that they cannot stand the fact that the economy under Trump has been flourishing.
If you look at the history of American economics, you will find that it has many fluctuations. There have been times of good and bad economies. It reminds me of the spring weather here in northern Kentucky. It can be cold with frost one day, a couple days later it warms up into the 70s only to see a couple inches of snow a few days later, followed by more warm days. Two days ago, my weather station in the back yard hit 79 degrees and this morning it is 36 degrees with a windchill below 30 degrees. This is what the history of the American economy is like.
Generally, I ignore most of the economic predictions because they come from those who oppose Trump and will do almost anything to make Trump and Republicans look as bad and evil as possible.
However, when Alan Greenspan revealed his prediction, I had to pay attention because of who he is and the reason he gave for a decline in the economy.
Alan Greenspan was THE most powerful man in America from August 1987 to January 2006. Why do I say that Greenspan was THE most powerful man in America during that time? Because he served as Chair of the Federal Reserve. Ultimately, Greenspan had control of the American economy more than the President or Congress as he set the base interest rates charged to the prime borrowers which in turn established the interest rates charged by banks, credit card companies and everyone else.
Greenspan served as Chair of the Federal Reserve under Presidents Ronald Reagan, George H.W. Bush, Bill Clinton and George W. Bush. Before that, Greenspan served as Chair of the Council of Economic Advisers under President Gerald Ford.
Greenspan was probably the best and smartest Chair of the Federal Reserve. During that time, he developed an extremely good understanding of the American economy, which is why I tend to take his economic prediction more serious than most of the others.
During an interview with CNBC, Greenspan stated:
“I think the real problem is over the long run, we’ve got this significant continued drain coming from entitlements, which are basically draining capital investment dollar for dollar.”
“Without any major change in entitlements, entitlements are going to rise. Why? Because the population is aging. There’s no way to reverse that, and the politics of it are awful, as you well know.”
I believe this has been the plan of Democrats all along and listening to current Democrats, I believe that they are ramping up that plan in order to drive the final nail in America’s capitalistic coffin.
The bulk of entitlement programs have been the work of Democrats. Today’s Democrats are talking about even more entitlements, which are the most expensive of all and will have devastating effects on the American economy and every American. They want free healthcare for all and free college tuition for all, along with reparations to black Americans for the enslavement of their ancestors over a 160 years ago. The estimated price tags on just these three entitlements run somewhere between $6 trillion to more than $10 trillion. This isn’t the straw that breaks our economic back, but the log that shatters it!