Summary

Americans, frustrated with high prices despite a strong economy, voted for change with Donald Trump’s election. Trump promises to reverse Biden-era policies, vowing steep tariffs, tax cuts, and mass deportations.

Economists warn his plans could worsen inflation, increase the federal deficit, and destabilize growth. The Peterson Institute predicts Trump’s tariffs could drive up costs for American consumers, while deportations could shrink GDP by $5.1 trillion.

His proposed tax cuts could add $4.1 trillion to the deficit, while economists question his willingness to address fiscal imbalances through spending cuts.

  • P_P@lemm.ee
    link
    fedilink
    English
    arrow-up
    54
    ·
    edit-2
    16 days ago

    They are going to miss the shit out of Biden before long.

    Prices are already going up and layoffs are already starting in anticipation of the tariffs.

    All the while, Trump and his rich buddies are going to rob us blind.

    I wonder what the new social security retirement age is going to be.