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Peter Morici: Trump should toss budget plan, pivot to the center

Reuters

President Donald Trump’s budget is dead on arrival and, my conservatism notwithstanding, that is a good thing.

U.S. economy is beset by negative structural forces beyond our borders. Growth is slowing, a recession is becoming a real risk, and the totality of the president’s budget cuts is ill-advised. Instead, he should articulate an agenda that challenges the Congress to keep the recovery on track.

China’s flagging economy won’t be resurrected by any trade deal hatched by Presidents Trump and Xi. The communist leader has imposed more state controls that breed corruption and waste, and burden provincial governments and private businesses with a mountain of debt.

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