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spending and big deficit finance tax cut, you re going to reduce growth a little bit and that s what we did. but it was two quarters of much faster growth, one quarter of 2% and we re trending down again. the hope of the administration is they can do better in 2019 than everybody s expecting. how are they going to do that with spending where it is? rail against tax cuts, fine. there s reason to rail against it. but we don t talk enough about the spending, which is massive. it is massive. although i don t think we re going to do another big spending deal that busts the caps like we did last time. we re not going to get that really big federal spending. but what they re hoping for is business investment will continue to grow in 2019 in ways some economists are not expecting, that when you take the huge tax cut for corporate america, they will continue to take some of that money and invest in new plants, new infrastructure, new workers. theres no signal in the data that s really happe

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