Wednesday, June 19, 2019

1600 Daily The White House • June 19, 2019 Ronald Reagan’s Famed Economist, Art Laffer, Receives Medal of Freedom from President Trump

1600 Daily
The White House • June 19, 2019

Ronald Reagan’s famed economist, Art Laffer, receives Medal of Freedom from President Trump 

In 1974, America’s confidence was rattled. Two million Americans joined the unemployment lines that year alone, while inflation soared to a stunning 11 percent. The consensus in Washington—on both sides of the aisle—was that raising taxes and growing government could help our country crawl its way to prosperity.

A young economist named Dr. Arthur Laffer challenged that status quo—and in doing so sparked an economic revolution that changed history.

🎬 Watch: President Trump awards economist Arthur Laffer the Medal of Freedom

Known as the “Father of Supply-Side Economics,” Dr. Laffer’s work has brought millions out of poverty and on track toward a better life. Today, President Donald J. Trump recognized that legacy by presenting Dr. Laffer with America’s highest civilian honor.

Forty-five years ago, at a now-legendary dinner with Ford White House officials Donald Rumsfeld and Dick Cheney, Dr. Laffer pulled out his napkin and drew a small graph. With the now-famous “Laffer Curve,” he illustrated how when tax rates creep too high, people stop spending and investing—leading to less growth and, paradoxically, lower tax revenues. On the other hand, at a certain point on the curve, lower tax rates help spur investment, economic growth, and even government tax receipts.

Seem obvious? It is today—for most conservatives, at least. But in 1974, the “Laffer Curve” was economic heresy. Prominent leaders and academics dismissed it out of hand as “insanity” and “completely off the wall.”

Dr. Laffer would go on to prove them all wrong.

The Reagan Revolution, beginning in 1980, would see Dr. Laffer’s ideas take center stage as he helped shape President Ronald Reagan’s low-tax, pro-growth working-class agenda. He played vital roles in both the 1981 and 1986 tax cut laws, which ultimately chopped the top marginal rate for individuals from 70 percent to 28 percent.

The rest, as we know, is history. After years of dreaded “stagflation,” the U.S. economy skyrocketed. More than 12 million new jobs were created. Inflation collapsed. GDP soared by nearly 30 percent.

Since the 1980s, more than 30 countries have adopted similar tax cuts and reforms. As a result, Dr. Laffer’s policies have helped lift nearly a billion people out of poverty.

Not a bad legacy to start with a sketch on a napkin.

Video of the day: The USNS Comfort deploys on a mission of compassion

At the Port of Miami yesterday, Vice President Mike Pence gave special thanks to the crew of the USNS Comfort before they embarked on a lifesaving mission to Latin America.

“The generosity and the compassion and the care of the American people for the struggling people of Venezuela will set sail again aboard the USNS Comfort,” he said.

Under the oppressive Maduro regime, more than 4 million Venezuelans have fled their homeland, many in desperate need of medical care. During the next five months, the USNS Comfort will make stops in 13 partner nations to assist these displaced people. The ship itself brings significant medical capabilities to the region, including one of the largest trauma facilities in all of the United States Navy.

“On behalf of your Commander-in-Chief: You're embarking on a vital mission, and we're grateful for your service,” the Vice President said.

In photos: Vice President Pence tours the USNS Comfort

Photo of the Day

Official White House Photo by Joyce N. Boghosian
President Donald J. Trump presents the Presidential Medal of Freedom to economist Arthur B. Laffer in the Oval Office | June 19, 2019

President Donald J. Trump Announces Judicial Nominees and United States Attorney Nominee

Office of the Press Secretary

President Donald J. Trump Announces Judicial Nominees and United States Attorney Nominee


Today, President Donald J. Trump announced his intent to nominate:

Justin R. Walker of Kentucky, to serve as Judge on the U.S. District Court for the Western District of Kentucky. 

Justin Walker is Assistant Professor of Law and Co-Director of the Ordered Liberty Program at Brandeis School of Law at the University of Louisville.  He also serves as Partner of Counsel at Dinsmore & Shohl, LLP in Louisville, Kentucky, where his practice focuses on commercial and appellate litigation.  Before returning home to Kentucky, Mr. Walker was an appellate attorney at Gibson, Dunn & Crutcher LLP in Washington, D.C.  Mr. Walker served as a law clerk to U.S. Supreme Court Justice Anthony Kennedy and then-Judge Brett Kavanaugh of the U.S. Court of Appeals for the D.C. Circuit.  He earned his J.D., magna cum laude, from Harvard Law School, where he served as Notes Editor on the Harvard Law Review, and his B.A., summa cum laude, from Duke University.

Daniel Z. Epstein of Texas, to serve as Judge on the U.S. Court of Federal Claims.

Daniel Epstein is Special Assistant to President Donald J. Trump and Senior Associate Counsel to the President.  Before joining the White House in January 2017, Mr. Epstein was counsel to both the Presidential Transition Team and the Trump for President Campaign.  In 2011, Mr. Epstein founded Cause of Action Institute, Inc., a 501(c)(3) public interest law firm, and served as its Executive Director and President of the Board until 2016.  At Cause of Action, he represented pro bono clients in government investigations and litigated regulatory, constitutional, political, and public law matters.  Earlier in his career, Mr. Epstein also served as Counsel for the House of Representatives Committee on Oversight and Government Reform.  Mr. Epstein earned his J.D. from Emory University School of Law, his B.A., cum laude, from Kenyon College, and he is currently a Ph.D. candidate in the Department of Political Science at George Washington University.

W. Stephen Muldrow of Puerto Rico, to serve as the United States Attorney for the District of Puerto Rico.

W. Stephen Muldrow currently serves an Assistant United States Attorney in the Middle District of Florida, having previously served as the Office’s Acting United States Attorney, First Assistant United States Attorney, and Chief of the Major Crimes Section.  Mr. Muldrow previously served as an Assistant United States Attorney in the District of Puerto for six years.  Mr. Muldrow’s prosecutorial career has focused on drug trafficking offenses, money laundering, and violent crimes.  Mr. Muldrow began his Department of Justice service as a Trial Attorney in the Tax Division.  He received his J.D., cum laude, from American University Washington College of Law, his M.A. from American University School of International Service, and his B.A. from Bucknell University.




Presidential Message on Juneteenth, 2019

Office of the Press Secretary
Presidential Message on Juneteenth, 2019
Melania and I send our best wishes for a memorable celebration to all those commemorating Juneteenth.

On June 19, 1865, Major General Gordon Granger of the United States Army marched into Galveston, Texas, and issued General Order Number 3, declaring, “all slaves are free.”  With this order, the message enshrined in President Abraham Lincoln’s Emancipation Proclamation of 1863 was brought to Texas, unshackling thousands of slaves who had remained in bondage.  Six months later, the Thirteenth Amendment was ratified, abolishing slavery in the United States once and for all.

That joyous day in June 1865 became known as Juneteenth.  For millions of African Americans, Juneteenth has served as an opportunity to celebrate the fundamental truth that all people are created equal and that liberty is a right endowed by our Creator.

Across our country, the contributions of African Americans continue to enrich every facet of American life.  This Juneteenth, as we vow always to uphold the God-given rights of all Americans, we pay tribute to the indomitable spirit of African Americans.