Trump’s economic threat

Trump has improved his unrealistic economic plan with a new one that is still unrealistic. According to a recent study by the Committee for a Responsible Federal Budget, his plan would increase the national debt by $5.3 trillion dollars over ten years. Of course, the trump campaign disputes this. They say the tax cuts would be real magic and produce massive growth in the economy and actually create more tax revenue. 

You can probably find some economists that will back any economic idea. Economists will argue with each other with studies that disagree. What should we believe? Facts. To get them we only have to go to the state of Kansas that Trump is trying to copy. About four years ago, they cut taxes sharply. They ended out with: 

  • serious deficits

  • Credit downgrades and increased borrowing costs

  • little growth in an expanding national economy

  • cuts in education 

  • cuts in highway programs 

  • Thousands of jobs lost

  • plundering of trust funds to pay for the deficits 

  • sales tax increases on lower income citizens (the original cuts were income taxes on higher income citizens)

This year, 2016, Kansas is still dealing with a deficit

Donald Trump is already on record stating that if things get bad, he will bargain with or force bond holders to accept less than a dollar for every dollar borrowed. This shows dangerous ignorance that he can’t flip flop out of. If he is elected President, it could cause an immediate international economic crisis leading to recession or depression.  Who will loan us any new money?  Who will want to even hold U.S. bonds?  Our credit rating will plunge towards that of junk bonds and the higher interest rates will drastically increase the deficit and national debt even further. 

This unrealistic plan is in line with the rest of Trump’s campaign. Promise, promise and promise, but avoid the “h” word “how” as much as possible. When actually saying “how”, use half baked ideas or outright lies (Politifact rates Trump’s campaign statements to be false, lies and worse 66% of the time).

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Remember:

Al Gore lost by only 550 votes in 2000.  

All that is necessary for evil to triumph is that good men and women do nothing.

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