That’s an old Paul Simon riff, but it applies to academic economists.

We noted last week, that the academic and blue-chip economists got it all wrong in 2025.

They estimated growth for 2025 would be 2.1%, but it has been closer to 4% over the past three quarters.

Even the anti-Trump Economist magazine reports the economy is “set to accelerate” thanks to the Trump tax cut:

We quote:

The effects of the One Big Beautiful Bill Act (BBB), a tax-cutting law enacted in July, will soon start to be felt. Americans will receive refunds that reflect retroactive tax cuts on income from 2025. They will also find that levies on monthly earnings have fallen. According to Piper Sandler, an investment bank, these “two years of tax cuts in one” are worth about $191bn. Such tax-cutting should be enough to boost GDP by 0.3%.

Alas, the consensus of the pointy headed economists surveyed by the Federal Reserve Bank of Philadelphia in November was that growth in 2026 would slow to 1.8% in 2026, due to tariffs.  Will they ever learn?

And by the way, Trump tariffs are expected to fall, not rise this year.