Trump Cabinet members actions and issues: on Budget & Economy


Larry Kudlow: $6.2 trillion in aid; we think we can get through this

We've got a $6.2 trillion assistance package. We're trying to keep folks working. And we're also protecting payrolls. It may not be perfect but I think it's going to give tremendous amount of resources to get us through what we still believe is going to be a question of weeks and months--hopefully weeks--maybe I should say prayerfully weeks. But we think we can get through this period. It's the largest mainstream financial assistance package in the history of the United States.
Source: ABC This Week 2020 interview of Trump Cabinet Mar 29, 2020

Larry Kudlow: We're going to stay with Trump pro-growth program

First of all, I don't see a recession at all. Second of all, the Trump pro-growth program, which I believe has been succeeding. Lower tax rates, big rollback of regulations, energy opening, trade reform, we're going to stay with that. We believe that's the heart of the free enterprise. We want an incentive-oriented supply-side economy, providing opportunities for everybody across the board.
Source: Fox News Sunday interview for 2019 Trump Cabinet Aug 18, 2019

Larry Kudlow: FactCheck: No, deficit is increasing with Trump tax cuts

In June 2018, Kudlow asserted that the tax cut was generating such growth that "it's throwing off enormous amount[s] of new tax revenues", and "the deficit, which was one of the other criticisms, is coming down--and it's coming down rapidly". Both assertions were incorrect. Since the tax cut was enacted, federal tax receipts increased 1.9% on a year-on-year basis, while they increased 4.0% during the comparable period in 2017. By the same method, the federal budget deficit increased 37.8% while it increased 16.4% during the comparable period in 2017. Kudlow later asserted he was referring to future deficits, although every credible budget forecast indicates increasing deficits in coming years, made worse by the Trump tax cut if not offset by major spending cuts. Barring such spending cuts, the CBO projected the tax cut would add $1.27 trillion in deficits over the next decade.
Source: Wikipedia.com Fact-Check on 2018 Trump Cabinet members Dec 31, 2018

Linda McMahon: Reduce financial regulations so small businesses get capital

McMahon praised Trump for signing a bill that rolled back some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which was enacted in the wake of the financial crisis that precipitated the Great Recession. The legislation relieves small and community financial institutions from what she called "overly burdensome regulations" and from annual oversight measures that include stress tests and other compliance measures.

"This will make it easier for community banks and credit unions to lend money and give access to capital," she said. "Access to capital is key. It is a key factor in whether small businesses can succeed or fail."

As a result of the growth spurred by reduced regulation and the tax cuts, many businesses are having trouble finding workers with the skills they need, particularly people who work with their hands. That's why President Trump has made workforce development a priority, McMahon said.

Source: Business Journal Daily on 2018 Trump Cabinet Aug 31, 2018

Wilbur Ross: SEC investigating insider trading "short sale" of oil stock

Commerce Secretary Wilbur Ross bet against the stock of a shipping firm just days after The New York Times contacted him about the company's links to the Kremlin, Forbes reported.

In October 2017, the Times emailed Ross questions about his investments in Navigator Holdings, a mover of liquefied gases whose major clients included a Russian energy company. Three days later, Ross made the so-called short sale. Ross' short sale was worth between $100,000 and $250,000, the Times reported.

The Securities and Exchange Commission considers insider trading as any transaction on public markets that's based on nonpublic information that can influence prices once it's revealed. "I did not receive any nonpublic information due to my government position, nor did I receive any nonpublic information from a government employee," Ross said in a statement. "Securities laws presume that information known to or provided by a news organization is by definition public information."

Source: Business Insider (e-zine) on 2018 Trump Cabinet Jun 20, 2018

Elaine Chao: Reckless tax and spend strategy is hazardous for economy

President George W. Bush's labor secretary, Elaine Chao had tough words for the incoming Obama administration's massive stimulus package, which included tens of billions of dollars for transportation. "Beneath the warm and fuzzy bipartisan rhetoric is the same old tax-and-spend crowd that has now taken control of our government and is implementing policies that will turn our country into Europe," Chao told activists at the annual Conservative Political Action Conference in 2009.
Source: Washington Post on 2017 Trump Cabinet Jan 11, 2017

  • The above quotations are from Trump Cabinet members actions and issues.
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2020 Presidential contenders on Budget & Economy:
  Democrats running for President:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Gov.Lincoln Chafee (L-RI)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 Third Party Candidates:
Rep.Justin Amash (L-MI)
CEO Don Blankenship (C-WV)
Gov.Lincoln Chafee (L-RI)
Howie Hawkins (G-NY)
Gov.Gary Johnson(L-NM)
Howard Schultz(I-WA)
Gov.Jesse Ventura (I-MN) 		Republicans running for President:
Sen.Ted Cruz(R-TX)
Gov.Larry Hogan (R-MD)
Gov.John Kasich(R-OH)
V.P.Mike Pence(R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump(R-NY)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld(R-MA & L-NY)

2020 Withdrawn Democratic Candidates:
Sen.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)
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Page last updated: Dec 03, 2021