Musings on Holding the Trump Regime Accountable for the Economy

By Rudy Barnes, Jr., November 16, 2024

In American democracy, we are the masters of our political destiny, for good or for bad. We cannot blame fate or God for the election of Donald Trump, or what he and a GOP Congress will do.  We can expect restrictions on immigration, new tariffs, efforts to replace the dollar with bitcoin, and the continuation of a booming stock market; and all will increase inflation and economic disparities in America.

Trump campaigned for these economic initiatives during the campaign, and since most Americans still claim to be Christians, our churches share accountability for Trump’s economy.  Trump was elected by white Christians who failed to promote the common good that’s at the heart of the greatest commandment to love God and all of our neighbors as we love ourselves.

Leading up to the election, there was much weeping and wailing over the death of democracy if Trump were to win the election.  Well, democracy remains alive--but it’s not well.  The Constitution provides the legal standards for America’s elections, while voters provide the moral standards for a democracy; and both are essential elements of political legitimacy.  

If Trump shuts down immigration as he has promised, the lack of immigrants providing labor for lower wages will result in higher prices for agricultural and industrial goods and services, and that will exacerbate inflation.  Trump’s campaign promises may have sounded good, but talk (especially in politics) is cheap--as America will soon discover.

           

The issue of economic accountability in a democracy is a matter of faith as well as politics.  The ancient Jews convinced God to allow them to have kings to be competitive with other ancient civilizations.  In modern times freedom and democracy have replaced the divine right of kings; but Americans have not yet mastered economic accountability in its democracy.

The legal and moral components of political legitimacy and their relationship to religion are addressed in https://www.religionlegitimacyandpolitics.com/.  This is the 521st commentary posted on that website, and all are listed in the blog archive on the home page of the website.  A sample of related commentary is listed in the end notes below.  

I don’t pretend to be an eminent authority on religion, legitimacy and politics, but I have held elected public office and practiced law for 50 years.  I’m also a retired Army JAGC officer who has advised senior commanders in Civil Affairs and Special Operations on international law; and I’m a retired UMC pastor who enjoys sharing my experience on my website.

Musings of a Maverick Methodist on Religion, Legitimacy and Politics by Rudy Barnes, Jr. (2020) is a selection of commentaries available from Amazon.  All sales proceeds go to the Barnes-Wall Foundation, a non-profit 501(c)(3) corporation committed to promote a better understanding of the relationship between religion, legitimacy and politics. 

Notes:

There’s a tax battle brewing among Republicans over debt fears.  “President-elect Trump’s victory last week set the stage for an  intraparty fight between Republican tax cutters and deficit hawks as the GOP gears up for a major legislative push, with a tax battle brewing among Republicans over debt fears between Republican tax cutters and deficit hawks.   Trump and many Republicans are eager to extend tax cuts which could cost $4.6 trillion, according to a projection by the Congressional Budget Office.” https://thehill.com/business/4984127, November 12, 2024.

‘Institutions Are Coming’—A $35 Trillion U.S. Dollar Collapse Is Predicted To Trigger A Bitcoin Price Boom To Rival Gold.  https://www.forbes.com/sites/digital-assets/2024/08/21/institutions-are-coming -35-trillion-us-dollar-collapse-predicted-to-trigger-a-bitcoin-price-boom-to-rival-gold

On how The Border Crisis Won’t Be Solved at the Border, see Jack Herrera, Texas Monthly, November 2024, at https://www.texasmonthly.com/news-politics/border-crisis-texas-solutions/

Previous commentary on the economy:

(3/8/15): Wealth, Politics, Religion and Economic Justice

http://www.religionlegitimacyandpolitics.com/2015/03/wealth-politics-religion-and-economic.html

(8/9/15): Balancing Individual Rights with Collective Responsibilities

http://www.religionlegitimacyandpolitics.com/2015/08/balancing-individual-rights-with.html

(10/18/15): God, Money and Politics

http://www.religionlegitimacyandpolitics.com/2015/10/god-money-and-politics.html

(6/4/16): Christianity and Capitalism: Strange Bedfellows in Politics

http://www.religionlegitimacyandpolitics.com/2016/06/christianity-and-capitalism-strange.html

(10/1/16): The Federal Reserve, Wall Street and Congress on Monetary Policy

http://www.religionlegitimacyandpolitics.com/2016/10/the-federal-reserve-wall-street-and.html

(3/11/17): Accountability and the Stewardship of Democracy

http://www.religionlegitimacyandpolitics.com/2017/03/accountability-and-stewardship-of.html

(2/6/21): Musings on the danger of economic disparities and excessive debt in America

http://www.religionlegitimacyandpolitics.com/2021/02/musings-on-danger-of-economic.html.

(9/25/21): Musings on an American Economic Apocalypse

http://www.religionlegitimacyandpolitics.com/2021/09/musings-on-american-economic-apocalypse.html.

(10/30/21): Musings on Modern Monetary Theory, and Why National Deficits and Debts Matter

http://www.religionlegitimacyandpolitics.com/2021/10/musings-on-modern-monetary-theory-and.html.

(2/5/22): Musings on the Stock Market, Inflation and Providing for the Common Good

http://www.religionlegitimacyandpolitics.com/2022/02/musings-on-stock-market-inflation-and.html.

(5/14/22): Musings on Inflation, the Stock Market, and the Economy http://www.religionlegitimacyandpolitics.com/2022/05/musings-on-inflation-stock-market-and.html.

(8/27/22): Musings on the Consequences of Forgiving Student Debt

http://www.religionlegitimacyandpolitics.com/2022/08/musings-on-consequences-of-forgiving.html.

(10/17/22): Musings on How Fed Interest Rates Feed Inflation and the Stock Market 

http://www.religionlegitimacyandpolitics.com/2022/10/musings-on-how-inflation-and-fed.html.

(12/3/22): Musings on America’s Unabated and Debilitating Inflation

http://www.religionlegitimacyandpolitics.com/2022/12/musings-on-americas-unabated-and.html.

(1/28/23): Musings on the Debt Ceiling, the National Debt, and Economic Uncertainty

http://www.religionlegitimacyandpolitics.com/2023/01/musings-on-debt-ceiling-national-debt.html.

(2/17/24): Musings on Strengthening America’s “Unsustainable” Economy in Perilous Times

https://www.religionlegitimacyandpolitics.com/2024/02/musings-on-strengthening-americas.html.

(6/1/24): Musings on the Stock Market as a Predictor of the Economy and Politics

https://www.religionlegitimacyandpolitics.com/2024/06/musings-on-stock-market-as-predictor-of.html.