Trump Says to End All Government Electric Subsidies

from IBD:

Trump Is Right — Subsidies For Electric Cars, Renewable Energy Must End

President Trump’s economic adviser Larry Kudlow says subsidies for electric cars and other renewable energy programs might soon be eliminated. That would be a major victory on the road to energy freedom.

National Economic Council chief Kudlow, a well-known free marketeer and supply-sider, said subsidies might disappear as soon as 2020 — interestingly, the next presidential election year. The decision comes after General Motors — the beneficiary of $2,500-$7,000 tax credits for those who buy GM’s plug-in cars, not to mention two separate corporate tax cuts — decided to close five North American plants, leaving 14,700 workers without jobs. The move infuriated Trump.

“As a matter of our policy, we want to end all of those subsidies,” Kudlow said. “And by the way, other subsidies that were imposed during the Obama administration, we are ending, whether it’s for renewables and so forth.” read more

Government Still Spending Like Drunken Sailors

My apologies to drunken sailors!

from IBD:

No, Tax Cuts Are Not Driving Deficits — It’s The Spending, Stupid

Are President Trump’s massive tax cuts what’s driving federal deficits upward. Everyone says so. But, it’s not true. It’s just a way for lawmakers to distract the public while they crank up the spending machine. Just like the Senate did this week.

Earlier this week, Trump’s top economic advisor, Larry Kudlow, gave a talk at the Economic Club of New York in which he said that tax cuts aren’t to blame for deficits.

“People are quick to blame deficits on tax cuts, but I don’t buy that,” he said. “The gap is principally spending too much.” read more