The Voodoo economist argue that it was done under Kennedy and Reagan, but they’re overlooking basic data. In those times, the two factors that together determine the maximum level of growth, the growth of the labor force and productivity growth, were both much higher.
The labor force grew more rapidly because of baby boomers and women entering the labor force. If anything, Trump’s immigration and deportation policies are going to produce a further slowdown in the labor force growth, half of which is already dependent on immigration.
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