Rep. Sean Duffy discusses current state of the American economy
I sat down with Wisconsin Congressman Sean Duffy a key member of the House Financial Services Committee. We talked about whether the current economic boom can continue. Here’s what he told me:
DUFFY: Economies ebb and flow, right? We peak and valley and economies, and this will be no different. There will be a downturn at some point, but I think, you know, we were eight years on into the lame expansion of Barack Obama. We should've had a downturn. This is one of the longest expansions we've had since the great depression.
And it's happening because conservative free market principles work. Donald Trump and republicans came in and said, we've got to streamline rules and regulations. Not “no rules,” not “no regulations,” but streamline them.
Lower taxes so more businesses and families can keep more of what they earn. Incentivizing more investment, more innovation, more creativity, which in the end means more jobs.
So it'll ebb and flow. But I think we have another couple of years at least, of this recovery. And if we get a better NAFTA deal and better trade deal, not just with Mexico and Canada, but with Europe and with China, this could extend well beyond that.
BORIS: Let's talk about trade. A lot going on right now in terms of NAFTA, Mexico, Canada, but also in terms of China. Where do you see all the shaking out on the world stage?
DUFFY: President Trump has a better deal with Mexico right now for us. He's going to get a deal with Canada. Canada is going to capitulate. We're going to get a better deal with them.
The president was smart in that when you have a growing economy, four percent growth and low unemployment, this is the time to renegotiate these deals. We're the biggest market. People want to sell their products here.
Here’s the bottom line: long term economic growth is absolutely possible for our country. As long as we see successes on trade, deregulation and further tax reform.
EDITOR'S NOTE: Boris Epshteyn formerly served as a Senior Advisor to the Trump Campaign and served in the White House as Special Assistant to The President and Assistant Communications Director for Surrogate Operations