We delve into the finer details of Trump’s economic plan to get a substantive view on its effects for spurring true economic growth and it is severally lacking, and in fact only going to exacerbate the out of control National Debt and Budget Deficit Issues. We see recession a likely result in next 16 months in the economy. What we have is a spending problem, we cannot afford a fiscal stimulus program once you look at the economic numbers, this will send the economy straight into recession.
We cannot afford interest on the National Debt to rise with a more than doubling of our national debt since the last time interest rates were normalized. Lowering taxes is only going to increase the national debt and exacerbate our budgetary problems which have been sliding under the radar due to low interest rates, well now the real problem of too much debt is front and center for politicians too come to terms with.
We need major spending cuts and a reallocation of budgetary resources, a complete budget overhaul, and that means less government to start with, government needs to be downsized, the military industrial complex needs to be downsized, and healthcare needs major structural reform as an industry.
Trump’s Voodoo Economics
© EconMatters All Rights Reserved | Facebook | Twitter | YouTube | Email Digest | Kindle
