Taxes, Tariffs and Threats: A Look at the Still Booming U.S. Economy | OAS Episode 38

Summary: For most states, the fiscal year ended on June 30, 2018. We decided this would be a good time to get an overview of the national economy from an expert familiar to many state legislators and state legislative staff. Christopher Thornberg, the founding partner of the research firm Beacon Economics, is our guest on this episode. He says a pressing concern for states is higher interest rates over the next 24 months and a lack of workers. He believes the economy will continue to grow over the next two years, but he sees stressors that make him worry how much longer the expansion can last. A “dangerously” low level of consumer savings is one of his concerns. We get reaction to how the federal tax bill is affecting the economy and how tariff policies could affect states. He also explains why he believes Congress and the administration need to pay more attention to policies that have an impact on our economy. It’s part of his discussion he wants to share in his talk, “The Great Disconnect,” when he speaks at the NCSL Legislative Summit in Los Angeles on Aug. 1. Transcription of Episode 38