Trumponomics -The Economics Of Donald Trump

The “Donald” is not my candidate of choice, in fact I think he is an embarrassment to the United States. His ideas and plans, his beliefs and goals change as often as he changes wives. He thinks it is ok to attack Hillary Clinton over her husband’s infidelities, but strikes back like a rattlesnake if anyone mentions his three marriages, and never mention the background or the abilities of wives’ number 2 or 3.  There is something to be said to couples that remain together through thick and thin or because they believe in commitment and promises, but not the “Donald” who changes files bankruptcy and lawsuits at a whim.

A lot of this might be acceptable for a business man, but none of it is presidential. A true President needs to be concerned not only with the here and now, but in the long term goals and relationships of the United States. The President is only a temporary representative of the people.

The United States is known for honesty and reliability and of a county that keeps its promises and that weaker nations can depend on. The United States reputation has suffered as a world leader as some decisions are harsh but we never had a President that rules by threats, personal attacks and bullying.

The Republican candidate has said that he will reduce taxes and cut wasteful spending – but has failed to provided details on which taxes and what spending but only to attract votes.

Bloomberg printed an interesting article on the Republican presumptive nominee. “I am allowed to change,” Donald Trump told ABC’s George Stephanopoulos when queried about some of this flip-flopping.   Give Trump his due, though. However inconsistent he has been on matters economic, he has been on message about his policy credentials, repeatedly telling interviewers that his financial expertise derives from a singular reality: He’s the “king of debt.”

Speaking with CNN’s Wolf Blitzer last week, Trump said the U.S. shouldn’t bail out Puerto Rico, which is struggling to meet payments on about $70 billion in sovereign debt. “Don’t forget, I’m the king of debt, I love debt,” he told Blitzer. But, Trump advised, Puerto Rico would be better off declaring bankruptcy than meeting its obligations.

Trump would tackle international trade head on, declaring China a currency manipulator and imposing harsh penalties on Mexico. The two economies are among American’s biggest trading partners. His proposals would “at minimum be very disruptive to international commerce”.

Trump’s most detailed speech on foreign policy suggests that he takes his inspiration from a period of isolation and “America First” sentiment. Such sentiment has always been a current in US politics, but it has remained out of the mainstream since the end of World War II for good reason: It hinders, rather than advances, peace and prosperity at home and abroad.

Trump extols the virtues of unpredictability – a potentially useful tactic when bargaining with enemies, but a disastrous approach to reassuring friends. Americans often complain about free riders, without recognizing that the US has been the one steering the bus.

The US remains central to the workings of the global balance of power, and to the provision of global public goods. But American preeminence in military, economic, and soft-power terms will not look like it once did. The US share of the world economy will fall, and its ability to wield influence and organize action will become increasingly constrained. More than ever, America’s ability to sustain the credibility of its alliances as well as establish new networks will be central to its global success. (Joseph Nye)

There’s no denying Trump has done a good job of making himself rich — he’s worth somewhere between $4.5 billion and $10 billion, depending who you ask. The economy isn’t something Trump looks forward to tackling. In a January interview with “Good Morning America,” Trump offered up a bleak assessment of the U.S. economy but added that, in terms of fixing it, it’s a task he’d rather skip.

In an April interview with the Washington Post, Trump reiterated his doomsday view of the economy, suggesting we might be headed for recession. But this time around, he appeared more open to the idea of his being in charge of finding remedies. “I can fix it. I can fix it pretty quickly,” he said.

Many Americans appear to believe that is the case and that, more broadly, a Trump presidency would be good for the economy. According to a recent CNBC All-America Survey, Americans rate Trump and Democratic frontrunner Hillary Clinton evenly on key economic issues. And in a January Zogby poll, Trump rated better than the former secretary of state.

Trump has certainly been this election cycle’s most riveting figure. He initially focused his attention on immigration reform, calling for a wall to be built between Mexico and the United States and demanding the deportation of 11 million undocumented immigrants. (The Street)

He has since rolled out other policies and positions: a major tax code overhaul; repeal and replace Obamacare; renegotiate or “break” NAFTA; stop hedge funds from “getting away with murder” on taxes; reforming the Veteran’s Administration; and impose import tariffs as high as 35%. All while keeping the deficit in check, growing the economy and leaving entitlement programs like Medicare and Social Security untouched. Immigration remains a major pillar of his campaign, and he has now moved on to the question of Muslim immigration as well. He has finally laid out a plan to make Mexico pay for the wall, too.

Trump’s pricey economic platform rests on three pillars: immigration reform, tax cuts and trade reform. On each point, he has made characteristically grand promises, from bringing China to heel to deporting 11 million undocumented immigrants. The proposals tend toward conservatism but cover all sides of the ideological spectrum.

Trump has promised to make America great again. But a closer look his policy proposals, such as they are, suggests that within his first few years as president, he would more likely make American recessionary again.