Newt Gingrich Admits That Trump’s Economic Plan Is Nonsense

[Katzndogz]

Hilly tells the truth.

I will put coal miners out of business.
I will raise taxes on the middle class.
I am married to Donald Trump.

 

[JimH52]

Comade Trump

"A Chicken in every pot!"
and we will worry about paying for the chicken later.

 

[NYcarbineer]

Trump will run the US like a business. Declare bankruptcy, and put the country into receivership...

...with his pal Putin as the receiver.

 

[JimH52]

Trump will run the US like a business. Declare bankruptcy, and put the country into receivership...

...with his pal Putin as the receiver.

His plan is a joke. And they say Dems want to give stuff away....

 

[washamericom]

WASHINGTON ― After a disastrous week for a Republican presidential nominee, you might have expected the party to circle the wagons and bring out its most prestigious leaders to defend their candidate, particularly in front of a friendly, conservative news outlet.

Speaker of the House Paul Ryan (R-Wis.), perhaps? Senate Majority Leader Mitch McConnell (R-Ky.), maybe? Nope. Donald Trump’s defense on “Fox News Sunday” came from a guy who left office in 1999, and who refuses to pay off the debt he accumulated from a quirky 2012 presidential campaign that served, in part, as a zoo tour.

Newt Gingrich did his best to defend Trump, and effectively attacked Hillary Clinton’s recent bizarre and false statements about her email scandal. But Gingrich also had to acknowledge that his candidate’s economic plan is nonsense. When host Chris Wallace asked whether Trump’s tax and spending plan adds up, Gingrich admitted the absurdity.

“Of course not,” Gingrich said. “Historically, no candidates have numbers that add up.”

It’s, let’s say, very unusual for campaign surrogates to acknowledge that their campaign’s entire economic policy is bunk.

Gingrich’s point is, in a sense, technically accurate and completely ridiculous. Republicans have been particularly egregious on this front. According to a conservative think tank, in the 2016 primary, Bobby Jindal offered a tax plan that would balloon the federal debt by $9 trillion. Other analysts said the Jeb Bush tax plan would cost $8.1 trillion. When Mitt Romney offered a $5 trillion tax cut in 2012 while vowing not to raise taxes on anybody, nonpartisan analysts noted this was impossible, and would require raising taxes on middle-class families. Clinton has acknowledged that her economic plan would require increasing the national debt by about 2 percent.

These could all be construed by deficit hawks as plans that do not add up. But Clinton, unlike the GOP, acknowledges that her plan involves deficit spending, rather than pretending that magic spending cuts or wild economic growth will fill the hole.

But according to Fox, Trump’s plan would add $11.2 trillion onto the national debt ― most of that fueled by tax cuts for the wealthy. Since the federal debt owed to the public is about $12.8 trillion, that’s an increase of more than 87 percent. There’s not adding up, and then there’s not adding up, Trump style.

When the Tax Policy Center rendered its verdict on Romney’s tax plan in 2012, GOP politicians and intellectuals didn’t shrug their shoulders and say that hey, tax policies never add up. They did their best to defend it. Trump’s plan is so preposterous that even his surrogates won’t do that.

Newt Gingrich Repudiates Donald Trump's Economic Plan

Trump's economic plan is beyond nonsense. At least Hillary is being honest about hers. Trump has even stated that he can eliminate the national debt in 8 years. That kind of severe austerity would crush the economy and plunge Americans into economic chaos. However, I seriously doubt that a Congress controlled by either party would allow him to enact such draconian policies.

where's the quote ?

 

[tyroneweaver]

With all the skeletons in Trump's closet, combined with his very thin skin, I can't imagine why he has opened himself up to such ridicule - and it will only get worse over the next three months.

The debates will be fun. Hillary sits there and rationallg debates while Comrade T turns dark orange and claims the questions are too hard. Maybe he will cry and his spray on tan will run.

If she doesn't pass out, or fall on the floor. Which I'm sure right now is even money.

 

[IsaacNewton]

The Trump Taj Mahal just went out of business.

Yes, let's have this idiot make decisions about the economy. Even as the thing was being built way back in the early 90's experts in this field said it would not be profitable from day one. And they were right.

Of course Trump views a one billion dollar loss in a year as a good way to get out of taxes so no real surprises here.