Remember King Midas, who turned everything he touched to gold? Well Democrats are the exact opposite… they’re more like Apocalypse, Destroyer of Worlds.
After the 2008 financial crisis, the interventionist Democrats stepped in to provide “much-needed” regulation to Wall Street with the Dodd-Frank law. Instead they just instituted higher costs, heavier regulatory burdens, and more “too big to fail” structure for the banks.
It has not turned out well, as costs have skyrocketed and the risk of bank defaults remains.
So Donald Trump, who loves turning things to gold, has stepped up to fix the absolute disaster the Democrats have created.
In a King Midas-like move, he just signed two executive orders that signal freedom and prosperity for America—and the destruction of the terrible Democrat legacy.
From the Los Angeles Times:
President Trump, who has vowed to dismantle the landmark Dodd-Frank financial reform law, will take aim at two of its pillars Friday.
During an appearance at the Treasury Department, Trump is scheduled to sign two presidential memos ordering six-month reviews of the 2010 law’s authority for regulators to designate large firms as a risk to the financial system and to try to shut them down with minimal collateral damage if they’re on the verge of failing, the White House said
Trump also will sign an executive order directing Treasury Secretary Steven T. Mnuchin to review significant changes to the tax code since the start of 2016 to determine whether they “impose an undue financial burden on American taxpayers,” “add undue complexity” or “exceed statutory authority,” the White House said.
So the hard work still remains ahead, but there is a light at the end of this tunnel.
A freer, more prosperous economy that is not weighted down by heavy tax and regulatory burdens promise an age of growth that could eclipse Reagan’s tenure.
Thankfully Trump is not like the Republicans, who would spin round and round, one issue at a time, and never accomplish anything for the American people.
In this case the accomplishment would be eliminating the economy-killing regulations from the “big-government happy” Democrats, instead favoring limited regulations that allow individuals and businesses to succeed once again.
Source: LA Times