February 9, 2020
By Steve Stofka
Despite a strong labor market and a rising stock market, last year’s deficit was the largest in seven years (Tankersly, 2020). The tax cut package of 2017 has not delivered the promised economic growth. The first estimate of 2019 GDP annual growth was 2.3% (FRED, n.d.), the average during the past four years of the Obama administration. According to Mr. Trump, that growth rate was a “disaster” under Obama. Now it is a good growth rate. In his State of the Union address this week, President Trump said that “our economy is the best it has ever been” (CPR, 2020).
Growth during the three years of the Trump administration has averaged 2.5%, slightly above the tepid rate of growth under Obama. The growth standard is 3.0%, the average during the last fifty years of the 20th century.
How to make a tired nag of an economy look like a racehorse? The White House Council of Economic Advisors compared GDP growth during the Trump administration to growth projections of 2.0% made before the 2016 election (CEA, 2020). That comparison makes the growth rate look ½% higher than expectations. A component of GDP growth is government spending, whether that spending is borrowed or not. That additional growth has come at the expense of the Federal debt (CBO, 2020).
Like the Obama administration before, the Trump administration has bought itself GDP growth by borrowing money from the rest of the world and spending it. Without those annual deficits, GDP growth would have been negative for the past 15 years. The stock market has climbed 33% since the 2016 election because the money is flowing freely from Washington and the Federal Reserve. The amount of borrowed and printed money that the Federal government pumps into the economy creates additional profits for companies.
As predicted, President Trump was found not guilty by the Senate. Since the founding of the country, three Presidents have been tried for impeachment but not convicted. Let’s look at the Presidents who were not impeached even though they committed arguably impeachable offenses.
President Franklin Delano Roosevelt was not impeached by a Democratic House for lying to Congress about the lend lease program to Britain in 1940. President Lyndon Johnson was not impeached by a Democratic House for lying to Congress about the Gulf of Tonkin attack in Vietnam in 1964 (Moise, 2019). President Ronald Reagan was not impeached by a Democratic House for his complicity in selling arms to Iran (Brown U., n.d.).
All of these were matters were of grave national importance to the American people. President Clinton was impeached by a Republican House for lying to them about his affair with a White House aide. Tawdry, yes. National importance? No.
Since no president has been convicted of impeachment, should we enact a Constitutional amendment to nullify impeachment? The arguments we have today about impeachment reflect the same arguments made by delegates at the Constitutional Convention in 1787 (Klarman, 2016). Some thought that state legislatures should initiate impeachment proceedings. The “New Jersey” plan proposed that a majority of state governors could remove a president. Some wanted to give the Congress power to remove a president at will, but others thought that would make the president subservient to Congress. Thinking that Congress might threaten impeachment as retribution for a presidential veto, some advocated against impeachment at all. Shouldn’t the voters decide, they argued? If the president were elected every two years, the voters could vote a president out of office at the next election. A Presidential term should last longer than two years was the counterargument. Most of the delegates agreed that impeachment was a check on a president and decided to include it in the Constitution.
What offenses should be subject to impeachment? The delegates disagreed on that as well. Some thought it should be for “malpractice or neglect of duty” but others thought the offenses needed to be more serious. “Treason, bribery, and corruption” was suggested, but “corruption” was not specific enough. “Maladministration” was proposed but was rejected. How about “other high crimes and misdemeanors against the State?” Well, that was more specific than “corruption” and “maladministration,” but not too specific as to straitjacket Congress. The final language inserted in the Constitution was “Treason, Bribery, or other high Crimes and Misdemeanors” (Article II, Section 4). Today, we argue about that wording. Go figure.
When the Constitution was written, the delegates did not contemplate a political system with two parties. Within two decades, they realized their mistake and initiated the 12th Amendment to have the president and vice-president elected together from the same party.
Some Constitutional delegates worried that the impeachment process would become politicized. History has shown that they were right. Should we admit that a conviction of impeachment is practically impossible? We must either lower the threshold for conviction in the Senate from a super-majority of 67 Senators to a majority vote, or remove the idea of impeachment from the Constitution entirely. What do you think?
Brown U. Research. (n.d.) Understanding the Iran-Contra Affairs: The Beginning of the Affair. [Web page]. Retrieved from https://www.brown.edu/Research/Understanding_the_Iran_Contra_Affair/i-thebeginning.php
Colorado Public Radio (CPR). Transcript & Video: President Donald Trump’s 2020 State Of The Union. [Web page]. Retrieved from https://www.cpr.org/2020/02/04/transcript-video-president-trumps-2020-state-of-the-union/
Congressional Budget Office (CBO). (2020, January). Budget and Economic Data. Retrieved from https://www.cbo.gov/about/products/budget-economic-data#2 Note: 2019’s Federal deficit was 4.7% of GDP, 40% higher than the 3.3% deficit in 2016, the last year of the Obama administration.
Council of Economic Advisors (CEA). (2020, January 30). United States GDP Growth Continues Exceeding Expectations. Retrieved from https://www.whitehouse.gov/articles/united-states-gdp-growth-continues-exceeding-expectations/
Federal Reserve (FRED). (2020, January 30). Real Gross Domestic Product (GDPC1). [Web page]. Retrieved from https://fred.stlouisfed.org/series/GDP
Klarman, M. J. (2016). The framers coup: the making of the United States Constitution. New York, NY: Oxford University Press. (pp 235-237).
Moïse Edwin E. (2019). Tonkin Gulf and the escalation of the Vietnam War. Annapolis, MD: Naval Institute Press, (Preface). Sample retrieved from https://books.google.com/books?hl=en&lr=&id=0UEnAnvQ978C&oi=fnd&pg=PR11&dq=gulf+of+tonkin+vietnam+war
Tankersley, J. (2020, January 13). Budget Deficit Topped $1 Trillion in 2019. NY Times. [Web page]. Retrieved from https://www.nytimes.com/2020/01/13/business/budget-deficit-1-trillion-trump.html