Trump Would Totally Demolish Economy With His Plans, Says New Report
Donald Trump says he has a plan for the economy, but that doesn’t mean it’s any good. According to independent nonprofit nonpartisan researchers, Trump’s policies on tariffs, deportations, and the Federal Reserve would, if put in action, seriously hike inflation, wipe out jobs, and slow U.S. production and economic growth. In even the most generous modeling, inflation would reach 6 percent by 2026 and consumer prices would balloon 20 percent by 2028. According to an analysis from the Peterson Institute for International Economics published Thursday, the devastating effects on the economy could last through 2040. Trump promises to carry out “mass deportations” if elected president. Doing so could “cause a large inflationary impulse and a significant loss of employment (particularly in manufacturing and agriculture) in the US economy,” the researchers found. The deportation plan on its own would provide no economic benefit to Americans. Warwick McKibbin, a senior fellow and co-author of the study, told CNN that the institute estimates that deporting undocumented workers would cause a pandemic-like “shock,” especially in the agriculture industry. “Can you imagine taking 16 percent out of the labor force in agriculture?” McKibbin said, who noted the ripple effects would include rising cost of food or even permanent loss of supply. Trump’s isolationist approach to the economy through deportations and tariffs on U.S. imports would hurt the American people most. “We find that ironically, despite his ‘make the foreigners pay’ rhetoric, this package of policies does more damage to the US economy than to any other in the world,” wrote the authors. Of course, the Trump team denied the findings, with Trump campaign senior adviser Brian Hughes telling CNN the exact opposite: “Trump policies will fuel growth, drive down inflation, inspire American manufacturing, all while protecting the working men and women of our nation from lopsided policies tilted in favor of other countries.”
Donald Trump says he has a plan for the economy, but that doesn’t mean it’s any good.
According to independent nonprofit nonpartisan researchers, Trump’s policies on tariffs, deportations, and the Federal Reserve would, if put in action, seriously hike inflation, wipe out jobs, and slow U.S. production and economic growth.
In even the most generous modeling, inflation would reach 6 percent by 2026 and consumer prices would balloon 20 percent by 2028.
According to an analysis from the Peterson Institute for International Economics published Thursday, the devastating effects on the economy could last through 2040.
Trump promises to carry out “mass deportations” if elected president. Doing so could “cause a large inflationary impulse and a significant loss of employment (particularly in manufacturing and agriculture) in the US economy,” the researchers found. The deportation plan on its own would provide no economic benefit to Americans.
Warwick McKibbin, a senior fellow and co-author of the study, told CNN that the institute estimates that deporting undocumented workers would cause a pandemic-like “shock,” especially in the agriculture industry.
“Can you imagine taking 16 percent out of the labor force in agriculture?” McKibbin said, who noted the ripple effects would include rising cost of food or even permanent loss of supply.
Trump’s isolationist approach to the economy through deportations and tariffs on U.S. imports would hurt the American people most. “We find that ironically, despite his ‘make the foreigners pay’ rhetoric, this package of policies does more damage to the US economy than to any other in the world,” wrote the authors.
Of course, the Trump team denied the findings, with Trump campaign senior adviser Brian Hughes telling CNN the exact opposite: “Trump policies will fuel growth, drive down inflation, inspire American manufacturing, all while protecting the working men and women of our nation from lopsided policies tilted in favor of other countries.”
