Yes, economy is growing, but it isn't just because of the 'GOP tax scam'

Like many so-called conservatives, Mr. Marcus Esmay of Columbia Falls (“Sen. Tester in need of intervention?” Daily Inter Lake op ed, Jan. 31) apparently clings to misinformation when it comes to the national economy.

First of all, Mr. Esmay, Sen. Tester doesn’t need an “intervention.” He’s doing reasonably well, thank you, representing the interests of the vast majority of Montanans, which (probably) includes both you and me. He’s doing far better than Mr. Gianforte and Mr. Daines, who only seem to care about the fabulously wealthy who use their wealth to further Republican causes.

I wouldn’t say our economy is “booming” as you did, but I would agree that it is expanding. But as most economists will tell you, our economy is growing mainly because the world economy is finally growing again following the recession that began in 2008. In fact, as Banyan Hill economist and columnist Paul Mampilly puts it, “… the U.S. and global economy are growing today. In fact, there is a synchronized global recovery going on right now. Every major economy in the world is showing growth, and I believe this is going to continue for some time.”

To be sure, the 2017 tax reform act — aka giant wealth transfer, aka GOP tax scam, aka raid on the U.S. Treasury — is helping economic growth by lowering the corporate tax rate (for those corporations that actually pay taxes) from 35 to 21 percent. Also contributing to growth are continued low interest rates (although we can expect those to begin rising very soon) and a somewhat devalued dollar that makes American goods and services more attractive to overseas markets.

In closing, Mr. Esmay, I strongly suggest you get actual facts from reliable sources. If you do that, don’t be surprised if you come to the conclusion that Sen. Tester is doing a far better job for you than you now think he is.

Debunking right-wing propaganda and fake news one op-ed at a time.

Robert Horne Jr. is a resident of Whitefish.