In an insightful interview on "The Joe Pags Show," economist Peter St Onge dissected the economic differences between the Trump administration and the current Harris/Biden administration, shedding light on why the economy flourished under Trump and why it's struggling now.
St Onge began by comparing the economic conditions under Obama, Trump, and Harris/Biden. He explained that during Obama’s presidency, the economy was slow to recover from the housing recession, and as Trump took office, the nation was on the brink of slipping into another recession. However, Trump’s policies sparked a significant economic boom—until the COVID-19 pandemic hit.
St Onge criticized how Democrats have leveraged COVID-19 in their economic narrative, pretending the pandemic never happened while blaming Trump for the downturn during that period. He argued that while Trump isn’t perfect, the Obama/Biden administrations were far worse for the economy.
Looking ahead, St Onge warned that Kamala Harris’s potential future policies could be even more damaging, describing her as “Biden on steroids” and predicting that she won’t stop the excessive government spending. He highlighted concerns over her proposed 44.5% capital gains tax, explaining that such high taxes could hurt small businesses and large corporations alike, leading to economic stagnation.
The conversation also touched on class warfare, with St Onge explaining that overtaxing the American people leads them to seek loopholes, and billionaires will simply find ways to avoid paying more taxes. He also expressed skepticism about recent unemployment numbers, revealing that economists were suspicious of earlier job reports and that the latest revisions, which showed 818,000 fewer jobs than previously reported, may point to deeper issues, including potentially fake businesses reported during COVID.
To hear Peter St Onge’s full interview with Joe Pags, click the link below.