by WorldTribune Staff, September 21, 2018
President Donald Trump’s policies of slashing regulations and cutting taxes have the economy booming at twice Obama-era levels, the U.S. Chamber of Commerce says.
“I really appreciate the major effort by government, and when I say government it was the White House, but yes the Congress and the Senate, doing some regulatory fixing,” said Chamber President Thomas Donohue.
Trump had promised to eliminate one regulation for every new one, but has actually cut some 16 regulations for each new one.
Donohue, said that prior administrations had piled on so many regulations that the business community looked like the leaning tower of Pisa.
“Everytime we had a new regulation we never took away the old one and that put lots of conflict in what people were facing,” he said at a Christian Science Monitor media breakfast earlier this week.
“There is no big mystery to progress, the results of the federal government getting off the backs business in a way that everybody understood was going to have to happen.”
Overall, Donohue said that the economy is humming. “There are a lot of positive stories to tell in our current economic environment. Ten years after the worst financial crisis since the Great Depression, our economy is finally firing on most all of its cylinders,” said Donohue.
The recent quarterly growth above 4 percent is a “100 percent increase from the 2 percent that we sort of had as a cap for almost 10 years,” Donohue noted, adding that “it’s the result of the addition of pro-growth policies, tax reform, and regulatory relief that got the economy going.”