Economic And Financial Realities For 2021
Jan 9th, 2021 | By Dr. Jim Eckman![](http://issuesinperspective.com/wp-content/uploads/2020/12/siora-photography-PtubE6qE_Fc-unsplash-150x100.jpg)
The economic and financial realities facing the new administration of President-elect Joe Biden are formidable. The national debt has skyrocketed under President Trump. This enormous increase resulted from President Trump’s tax cut policies and the staggering increase in national government spending to deal with the COVID-19 pandemic (over $3 trillion, all financed by debt). Furthermore, during the Trump presidency, the trade policies of the United States were radically upended. Both of these policy changes will have a profound impact on the direction of US economic and financial policies for both the near- and long-term.