ECONOMY/TRUMP PEOPLE: “President Donald Trump on Wednesday [6-19-19] honored economist Arthur Laffer, a former adviser to Ronald Reagan who is known as the father of supply side economics, with the Presidential Medal of Freedom…The President also claimed that Laffer’s work ‘spurred economic reforms around the world and helped lift untold millions out of poverty,’ though other factors contributed to tax cutting and deregulation around the globe at that time. Accepting the medal, Laffer — who was also the first chief economist of the Office of Management and was a consultant to the Treasury and Defense departments — thanked his family and many of his ‘teammates,’ which include several Trump administration economic advisers and Cabinet members, as well as former Vice President Dick Cheney and economist Milton Friedman. Laffer’s work gained popularity under Reagan, when the administration argued that the effect of lower tax rates ‘trickle down’ to the rest of the economy, spurring economic growth and increasing government revenue.”
–Maegan Vazquez, “Trump honors Reagan economist Arthur Laffer with Medal of Freedom,” CNN Politics, CNN.com, June 19, 2019 6:58 pm