Why the U.S. Economy Isn’t Taking Off Like a Rocket

President Donald Trump’s huge tax cut, signed into law in December 2017, was supposed to make the economy take off “like a rocket ship.” As the following chart shows, it hasn’t worked out that way. Instead, the growth trend has turned down since the tax cut went into effect. The advance estimate for the second quarter of 2019 year showed growth of just 2.1 percent.