Once again, economic forecasters are embarrassed. The economy is not enjoying a temporary “sugar high” from Trump’s tax reform, but is just beginning to feel its impact.

The U.S. Treasury announced on Friday that the federal government has spent $1.8 trillion since October 1, while tax receipts were only $1.3 trillion. According to Modern Monetary Theory, this is just fine.

Newark Mayor Ras Baraka announced plans to create a commission to study the concept of a “universal” income plan to help the more than one quarter of the city’s population living in poverty.

Many CEOs are making millions per year, and socialist/progressives such as Alexandria Ocasio-Cortez and Bernie Sanders criticize that fact, despite their sparse, largely failing histories in the business world. 

Two measures of the U.S. economy were reported on Wednesday, both of which exceeded forecasters’ expectations.

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