President Trump is likely to pursue broad changes in economic policy, as well he should. Since the start of the economic recovery in mid 2009, the U.S. economy has been growing at a tepid average annual rate of 2.1 percent. By contrast, at a similar point in the expansions following the recessions of 1981–82 and 1990–91, the economy had grown at average annual rates of 4.5 and 3.6 percent.
The primary focus of President Trump’s efforts — at least the ones likely to generate the most added growth — are a steep cut in the corporate tax rate, the replacement of Obamacare, and the permission of faster building of energy infrastructure.
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