A recession in the United States is inevitable. In truth, it’s overdue.
It’s a fact of the economic cycle that periods of boom are followed by periods of bust. It’s remarkable that the current expansion has lasted more than 10 years. Though it may not feel like it in rural Mississippi, we are living in the longest economic expansion in American history.
President Donald Trump understandably wants to avoid a recession at all costs until after the 2020 election. How he might try to do so — pushing through another tax cut — is unlikely, though, to work, says Bruce Bartlett, an economist who served during the Reagan administration.
Instead, argues Bartlett, Congress should enact a big public works program to not only shore up roads, bridges and schools but also to provide sea walls and other public works projects to deal with global warming.
Bartlett’s suggestion makes sense. Congress has already cut taxes while infrastructure upgrades have lagged for years. The longer we wait, the more these improvements will cost.
Tim Kalich, Greenwood Commonwealth