Democratic members of the Joint Economic Committee (JEC) issued a report this week, stating how they believe the certain Trump administration policies could hurt the nation’s economy.
The report, titled Risks Posed by Trump Administration to Economic Progress Made by Obama Administration – An Initial Response to the Economic Report of The President, outlines potential threats in six areas: recovery and reinvestment, reducing income inequality, reforming the health care system, higher education investment, regulating the financial system, and climate change.
“Too many people in Washington, D.C. think that if the stock market is going up, the economy is in good shape,” Sen. Martin Heinrich (D-NM), ranking member-designate on the JEC, said. “But that’s not the reality for working families. The way we should measure the success of the economy during the Trump administration is if wages go up, parents can afford to send their kids to college, entrepreneurs can start new businesses, fewer jobs are being outsourced and workers are able to retire with peace of mind.”
The report said Trumps trickle-down policies could slow economic growth and open the door for Wall Street recklessness.
“To evaluate the success of the Trump administration, it will be important to track the economic and other indicators the President-elect himself has highlighted as his top priorities,” the report said. “It will be critical to hold the new administration accountable to its promises – to document how they are meeting or falling short of their claims… The President-elect’s promises are bold. The efforts to match those promises to the actual record must be rigorous.”