g5000
Diamond Member
- Nov 26, 2011
- 128,965
- 73,266
- 2,605
The Macroeconomic Consequences of Mr. Trump’s Economic Policies
"Mr. Trump’s economic proposals will also result in larger federal government deficits and a heavier debt load. His personal and corporate tax cuts are massive and his proposals to expand spending on veterans and the military are significant. Given his stated opposition to changing entitlement programs such as Social Security and Medicare, this mix of much lower tax revenues and few cuts in spending can only be financed by substantially more government borrowing."
"Those who would benefit most from Mr. Trump’s economic proposals are high income households."
"Even allowing for some variability in the accuracy of the economic modeling and underlying assumptions that drive the analysis, four basic conclusions regarding the impact of Mr. Trump’s economic proposals can be reached: 1) they will result in a less global U.S. economy; 2) they will lead to larger government deficits and more debt; 3) they will largely benefit very high-income households; and 4) they will result in a weaker U.S. economy, with fewer jobs and higher unemployment."
"By the end of his presidency, there are close to 3.5 million fewer jobs and the unemployment rate rises to as high as 7%, compared with below 5% today. During Mr. Trump’s presidency, the average American household’s after-inflation income will stagnate, and stock prices and real house values will decline."
"The economic damage created by Mr. Trump’s policies is also stark when considering how the economy would perform if there were no significant changes to policy. That is, current law regarding tax and spending policy, immigration and trade policies, and all other fiscal policies remain in place. In this current law scenario, employment is expected to increase by 6 million jobs during Mr. Trump’s presidency. This compares with a decline of 3.4 million jobs over the same period if the candidates’ policies are fully implemented.
"Mr. Trump’s economic proposals will also result in larger federal government deficits and a heavier debt load. His personal and corporate tax cuts are massive and his proposals to expand spending on veterans and the military are significant. Given his stated opposition to changing entitlement programs such as Social Security and Medicare, this mix of much lower tax revenues and few cuts in spending can only be financed by substantially more government borrowing."
"Those who would benefit most from Mr. Trump’s economic proposals are high income households."
"Even allowing for some variability in the accuracy of the economic modeling and underlying assumptions that drive the analysis, four basic conclusions regarding the impact of Mr. Trump’s economic proposals can be reached: 1) they will result in a less global U.S. economy; 2) they will lead to larger government deficits and more debt; 3) they will largely benefit very high-income households; and 4) they will result in a weaker U.S. economy, with fewer jobs and higher unemployment."
"By the end of his presidency, there are close to 3.5 million fewer jobs and the unemployment rate rises to as high as 7%, compared with below 5% today. During Mr. Trump’s presidency, the average American household’s after-inflation income will stagnate, and stock prices and real house values will decline."
"The economic damage created by Mr. Trump’s policies is also stark when considering how the economy would perform if there were no significant changes to policy. That is, current law regarding tax and spending policy, immigration and trade policies, and all other fiscal policies remain in place. In this current law scenario, employment is expected to increase by 6 million jobs during Mr. Trump’s presidency. This compares with a decline of 3.4 million jobs over the same period if the candidates’ policies are fully implemented.
