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.
Occam’s Razor time, he doesn’t have to do anything because we are on the downslope of the inflation. He just has to sit there and tweet for a year, then claim credit. And the same low information voters who said it was Biden’s fault bread went from $2 to $5, will praise his economic prowess.
If inflation works like it has in the past, prices are not returning to their prior amounts, though. The brainstems won’t be able to grasp that, I’d wager.
Exactly.
If inflation is 10% in one year and falls to 2% the next then stuff is still 12% more expensive than it was two years ago.
I can’t help wondering how many people who voted in the last election understand this though. Single digits?
Given my time on this planet and how I’ve seen get very basic things related to math so very, very wrong, I would say it’s likely to be a disappointing answer.
Who the hell is buying $5 bread.
I was actually quoting a buddy of mine. That was his reasoning:
You have to love those GOP talking points. State some facts, then intentionally come to all the wrong conclusions. World class whiners.
Remember, those CEOs are also all trump sycophant idiots. They’ll artificially lower costs further, to sell the lie, trump admin will make up the difference, and then some, on “lost” profits in tax breaks for the rich. Then, once he can take credit, they’ll start to raise again, blame China or another country for rising prices as they climb back up and surpass current.
That will be the paper plan though, in reality, he’ll lose his focus and just say it out loud halfway through.