mainstreet economy of America. You do know the real head of China's Fed is Xi, don't you?
As for deficits, it's mostly due to spending. As early as June 2017, before tax cut became a law, CBO already estimated that the federal deficits would increase in next coming years. But, at least individual income taxes collected did rise in fiscal 2018 due to tax cut. Corporations need time to figure out how o re-invest their tax cuts. It's probably not 1 or 2 years thing.
Link: https://forum.uhnd.com/forum/index.php?action=display&forumid=2&msgid=510118
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