At 100 days, Trump’s big talk on the economy lacks substance

When you look at what Donald Trump has actually accomplished in the first 100 days of his presidency when it comes to adding American jobs, stimulating the economy and fixing the tax system, a four-word phrase comes to mind: big hat, no cattle.

.. Meanwhile, several of Trump’s big economic promises — eliminating the Import-Export Bank because it supposedly promotes crony capitalism, labeling China a currency manipulator, quickly unveiling a trillion-dollar infrastructure program — have not been fulfilled. He excoriated the Federal Reserve’s low-interest-rate regimen during the campaign, but now he likes it.

.. As someone who’s written about Trump on and off since the 1980s, I am surprised by none of this. He’s always been great at talking but not so great at doing. He routinely boasted about his New Jersey casinos — but they ultimately went through five Chapter 11 bankruptcies under his leadership. He touted his purchase of New York City’s Plaza Hotel, which also went into bankruptcy. He routinely exaggerated the floor count in some of his high-rise buildings.
.. most, if not all, of U.S. hiring and expansion plans for which Trump has claimed credit were already in the works or had nothing to do with him.
.. Meanwhile, thousands of cashiers, the second-largest job category according to the Bureau of Labor Statistics, are disappearing without Trump doing or saying a thing about it that I can see.
.. Obamacare added millions of new patients to health-care rolls without expanding the supply of doctors and nurses to keep pace with an expanded patient population. That’s a problem, too.
.. I saw a proposed tax cut on high-income people who are paying tax surcharges to help lower-income people get Obamacare coverage. Those cuts and cuts in other Obamacare-related taxes would have been paid for by trimming subsidies and benefits to Obamacare recipients and, according to the Congressional Budget Office, leaving 24 million people without health insurance.
.. 89 percent of households pay more Social Security and Medicare tax than federal income tax