A wonderful opinion piece/article on Trump, the US government, the issues its facing, the economy. Just wonderful. Here are some snippets and a link to the rest of the paper

As I said at the beginning, there are three impediments to the Trump administration making significant economic progress in its first year. The first is assembling a team and getting it working effectively. The second is getting his legislative agenda moving, and he has already run into trouble. The final impediment is structural problems in the U.S. economy.

The principal factors producing growth are increasing population and productivity. Population in the U.S. has been increasing at only 1% annually and productivity at less than 1%. As a result, most academic economists, most notably Robert Gordon of Northwestern University, believe growth is likely to be less than 2% going forward. Goldman Sachs and others believe the productivity numbers are understated by about .5% because of the difficulties of factoring in the contribution of technology, primarily software, to productivity improvements. Others believe that the hollowing out of the middle class as a result of globalization and technology has limited growth by reducing buying power. In any case, the supply side stimulus provided by tax cuts, reduced regulation and infrastructure spending would appear to be needed to achieve 3% growth.

Source: Blackstone