Summary
Donald Trump’s allies, including Elon Musk and John Paulson, are advocating sudden, unspecified spending cuts, likely targeting healthcare and social programs if Trump wins.
Despite strong economic performance under Biden, Trump’s agenda could double the national debt, raising taxes for most Americans while benefitting the wealthy. His policies may cut essential programs, lowering living standards in the short term.
Trump’s campaign has been a bait-and-switch, promising economic restoration while hiding the dire consequences of his proposals.
“As Election Day approaches, however, Trump’s supporters in the business community seem to have realized that his proposals are unworkable and would wreak havoc on the financial system. The only way to make the numbers add up is to pair higher taxes on the bottom 80% with big cuts in programs such as Social Security, Medicare, Medicaid, food stamps, federal aid to education, and so forth. The exact balance of such cuts is unclear, though Johnson is clearly interested in cutting health programs.”
Good article…Trump will trash the economy for no reason other than tax cuts for billionaires