Page 165 - TrumpsEconEra_Flat

Trump’s Economic Era

Austrians support policies that encourage savings.
The more people save—the more banks can lend. When
banks inject money into the economy, the economy
grows as consumption and investments increase.
Because President Trump favors Austrian economics,
he believes that the market is a better allocator of
resources than the government—Trumponomics
supports the private sector over the public sector.

RENT-SEEKING
Washington, D.C. has about 18,000 lobbyists who
pander to members of Congress; they represent about
12,000 clients who spent $2.5 billion in a recent year.
An additional 10,000 unregistered lobbyists work
outside Washington, D.C. You can find who these
lobbyists are, who their clients are, and how much
money they spend seeking favors from Congress at
http://www.opensecrets.org/lobby/.

Solyndra was a solar panel manufacturer who took
more than $500 million from President Obama’s $800
billion stimulus package and then went bust, sticking
taxpayers with the loss. The Obama administration may
have cut corners in vetting the project because of
“political pressure” from top Democrats and Solyndra
itself. Some people believe that Solyndra and other
similar projects were never meant to succeed from the
beginning, but the intent was a ruse to extract money
from the federal government.

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