Letter: Wait for Trump’s economic policies to set in, this year’s success is due to Obama

<p><strong>To the editor:</strong></p>
<p>About the debates over "which President should be credited/blamed for the good/bad economic news. . .</p>
<p>I was taught in a Purdue economics class that a new administration develops its economic policy in year one, puts it into operation in year two, and begins to see its (short term) effect in year three. In other words, 2011 through 2018 are mostly attributable to Obama administration policies. Watch for Trump’s to kick in next year.</p>
<p>Not certain, but three predictions:</p>
<p>(1) While the lower withholdings feel good now, there will be grumbling next year when taxpayers discover they owe the IRS instead of getting a refund.</p>
<p>(2) When the tax cuts expire for everyone except the super-rich (2025?), most of us will get poorer.</p>
<p>(3) With inflation fueled by huge deficits, cost of living will outgrow our income by leaps and bounds.</p>
<p><p style="text-align: right"><strong>Paul Jump</strong></p>
<p><p style="text-align: right"><strong>Franklin</strong></p>