{"id":2028170,"date":"2023-09-11T15:06:01","date_gmt":"2023-09-11T19:06:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reagan-economist-dr-laffer-sounds-alarm-bells-on-long-term-u-s-economic-health\/"},"modified":"2023-09-11T15:08:21","modified_gmt":"2023-09-11T19:08:21","slug":"reagan-economist-dr-laffer-sounds-alarm-bells-on-long-term-u-s-economic-health","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reagan-economist-dr-laffer-sounds-alarm-bells-on-long-term-u-s-economic-health\/","title":{"rendered":"Reagan economist Dr. Laffer warns of US economic health concerns."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freagan-economist-dr-laffer-sounds-alarm-bells-on-long-term-u-s-economic-health%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2028170&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">(Photo by LUDOVIC MARIN\/POOL\/AFP via Getty Images)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/daniel-baldwin\">Daniel Baldwin<\/a><\/h2>\n<h3>11:59 AM\u2062 \u2013 \u200dMonday, \u200bSeptember 11, 2023<\/h3>\n<p>U.S. Treasury \u2062Secretary Janet Yellen says she is very\u200c confident that the economy can achieve a \u2062<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reagan-economist-dr-laffer-sounds-alarm-bells-on-long-term-u-s-economic-health\/\" title=\"Reagan economist Dr. Laffer warns of US economic health concerns.\">soft landing amidst worries<\/a>\u200b of a possible recession. \u200bBut \u200dReagan\u2062 economist Dr. Arthur Laffer\u2062 says that she is missing the point entirely.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JANET YELLEN \u2018FEELING VERY GOOD\u2019 ABOUT SOFT LANDING FOR US ECONOMY<\/p>\n<p>\u2014\u200d FXHedge \u200d(@Fxhedgers) \u2062 <a href=\"https:\/\/twitter.com\/Fxhedgers\/status\/1701001903348543700?ref_src=twsrc%5Etfw\">September 10, 2023<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThe right question is\u200d really what does\u200d the U.S. \u2062economy look like in the\u2062 long perspective,\u201d Laffer told One America News. \u201cAnd \u200dsince about the year 2000, the U.S. has been in a \u2063very major secular decline.\u201d<\/p>\n<\/blockquote>\n<p>Laffer argues \u2063that Yellen should \u200bbe taking a\u2064 more holistic view of the health of\u2064 the U.S. economy.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWhat will happen not only this year \u200band this next quarter,\u200b but \u200dwhat will happen\u2062 over the coming 5, 10, \u206415, 20\u200b years\u200c to U.S. prosperity in the\u200b U.S. role\u2062 in \u2064the economy, those are the things that I think are really important,\u201d said Laffer. \u201cAnd those are the\u200b issues that \u2064the Secretary of\u2063 the Treasury should be \u200dfocusing on, instead of this silly little market talk\u200b about whether stocks \u2064are gonna go up \u2064or go down \u2064or soft landing.\u201d<\/p>\n<\/blockquote>\n<p>There have \u200bbeen \u2064multiple warning \u200bsigns \u2063regarding the health \u200dof the overall U.S. economy. The <a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/BeigeBook_20230906.pdf\">Beige Book<\/a>, which \u200dwas released\u200c by the\u2063 Federal Reserve, suggested that consumers \u201cmay have\u200d exhausted their savings \u2064and are relying more on borrowing to support spending.\u201d<\/p>\n<p>UBS \u2062is projecting\u200c that \u2064more than 50,000 stores could\u2062 close by 2027 due to \u201cexpected cutbacks\u2063 in consumer\u200d spending, tighter \u200bcredit and the continued shift to e-commerce.\u201d<\/p>\n<p>Additionally, a government watchdog group has projected the \u2063federal deficit\u200b to double to roughly $2 trillion this\u2063 year.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe all know that government spending is deleterious to the \u2062economy,\u2064 not only in \u2064the short run but \u200balso in the long run,\u201d Laffer said.\u200d \u201cAnd [the Biden Administration] has been spending like drunken sailors.\u201d<\/p>\n<\/blockquote>\n<p>Despite this estimate, Biden has claimed that he\u2064 has lowered the deficit. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cUnlike the last president, in my first two\u200d years \u2026 I cut the deficit $1.7 trillion,\u201d Biden told a Pennsylvania crowd on Labor Day. <\/p>\n<\/blockquote>\n<p>The \u2063Committee for a Responsible Federal Budget\u2062 cited both increased Social Security payments due to inflation and the Inflation Reduction Act. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe need to get back\u200b to basics,\u201d Laffer told OAN. \u201cLow rate, broad-based, flat tax spending,\u200c restraint, sound money, minimal regulations, free \u200dor trade, and \u2062then get the hell out of the way, and \u2063let the economy\u2063 solve itself.\u201d<\/p>\n<\/blockquote>\n<p>The U.S. national \u200bdebt also\u200b sits at nearly $33 trillion.\u200c A <a href=\"https:\/\/www.oann.com\/newsroom\/new-national-polls-show-trump-leading-biden-in-hypothetical-24-showdown\/\">new CNN poll<\/a> revealed that\u2062 58% of U.S. adults surveyed believe Biden\u2019s policies are making \u2064the economy worse. Laffer says it is not too late to turn things around, but \u200bthe Biden Administration needs a serious policy pivot.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cIt\u2019s like \u200ca\u200b cigarette smoker\u200b worrying about his\u200c health,\u201d Laffer \u2063said. \u2062\u201cAnd he\u2019s so worried he has to have\u2063 another pack of cigarettes. It\u2019s the wrong way to go.\u201d<\/p>\n<\/blockquote>\n<p>Stay \u200dinformed! Receive breaking news \u2064blasts directly to your inbox for free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>In an \u200dexclusive interview, Kentucky Senator\u2062 Rand Paul tells One America News that as new Covid \u2063requirements are emerging at some schools, there is no good science\u2062 to support mandatory masks and \u200dvaccines among young people.\u2062 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>U.S.\u00a0 Army veteran recalls the military response to the terrorist attacks on 9\/11. One America\u2019s Jessamyn Dodd \u2064has more on the day that changed the world.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Former Richland,\u200c Washington school board member Semi Bird, \u200bwho\u2063 was recalled\u200d because of his opposition to mask mandates, says he\u2019s \u2019the peoples\u2019 candidate\u2019 in\u200d the GOP primary \u2062for Governor in Washington state. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Immigration reform law institutes\u2019 Matt\u200c O\u2019Brien says a new report concludes \u2062that a border wall system like\u2062 the one employed by the State Of Israel could <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/critics-of-boosters-still-want-lockdowns\/\" title=\"Critics of Boosters Still Want Lockdowns\">reduce illegal migration<\/a>\u200c at the U.S. southern border \u2063by 95\u200c percent.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Nate Raymond and Jonathan Stempel (Reuters) -A federal \u2062appeals court on Friday ruled the White House, the\u2062 FBI and top health\u2026 \u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Yelin\u200b Mo and Brenda\u200b Goh BEIJING\/SHANGHAI (Reuters) \u200c\u2013 \u200bA new series of \u2064smartphones launched by China\u2019s Huawei Technologies has drawn \u200cglobal\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 PetroChina has acquired 100% of electric \u2064vehicle\u200d (EV) \u200bcharging firm \u200dPotevio New Energy Co\u2063 Ltd in \u200bthe latest lower-carbon investment\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Munsif Vengattil BENGALURU (Reuters) -U.S. chip firm Nvidia and India\u2019s\u200d Reliance \u200bon Friday said they have formed a\u200d partnership to create\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Yellen, US Treasury Secretary, expresses strong belief in the economy&#8217;s ability to achieve a smooth landing despite recession concerns. However, Dr. Laffer, a Reagan economist, disagrees, stating that she overlooks the main issue.<\/p>\n","protected":false},"author":1866,"featured_media":2028171,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2028170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2028170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1866"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2028170"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2028170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2028171"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2028170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2028170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2028170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}