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DonaldTrump’sEconomicPlan
“MakingAmericaGreatAgain”MakingAmericaGreatAgain45thpresidentoftheUnitedStates.Firsttermfrom2017to2021.August7marksthe200thday
ofhistenure.Immigration:SendIllegalImmigrantsbackandbuildhis“GreatWall”Deport2millionto3millionimmigrantswithcriminalrecords.Buildawallalongthe2,000milesU.S.borderwithMexico.EnsureopenjobsareofferedtoAmericanworkersfirst.Sources: “TrumprevealshowhewouldforceMexicotopayforborderwall.”TheWashingtonPost,April5,2016. “DonaldTrump’santi-immigrationstancethreatenstheheartofAmericaninnovation.”TheVerge,November11,2016H-1B
VisasandITworkers65percentofallH-1BvisaswereforcomputerrelatedjobsTrades:SmartTrade,NotStupidOneOnAugust16,2017,renegotiatingNAFTAwithCanadaandMexicoNAFTA(NorthAmericanFreeTradeAgreement)
istheworld’slargesttradeagreement.TohitMexicanimportswitha35percenttariff.Source:“TrumpOrdersImminenttoRenegotiateNAFTA,BackOutofTPP,”CNNPolitico,January23,2017.However,it’snothisfirsttimeSorry,moneyandpowercandoanything.ProtectionismOnJanuary23,2017,TrumpsignedanordertowithdrawfromfurthernegotiationsontheTrans-PacificPartnership.OnSeptember2,2017,TrumpinstructedaidestobeginwithdrawalfromthetradeagreementwithSouthKorea.Othercountrieswouldretaliate.Internationaltradehasn’trebounded.TariffsandatradewaronlyworsenthatSources: “TrumptoWithdrawfromTPP,”CNNPolitics,January23,2017. “TrumpPreparingWithdrawalfromSouthKoreaTradeDeal,”TheWashingtonPost,September2,2017.Healthcare:RepealandReplaceObamacareOnJuly29,2017,threatenedtostopreimbursinginsurancecompaniesforcoststheyincurhelpinglow-incomecustomers.Insurancecompanieswouldraisepremiumsby20percent.Source:“HowtoRepairtheHealthCareLaw,”TheNewYorkTimes,July29,2017.Environment&Energy:“FirstPlan”O(jiān)nJune1,2017,Trumpannounced
theU.S.withdrawalfromtheParisClimateAccord.20percentoftheworld'scarbonemissions.Takefouryearstoformallywithdraw.Anissueinthenextpresidentialelection.FirstPlan:EliminatingtheClimateActionPlanandtheWatersofU.S.rule.
Sources: “TrumpWillWithdrawU.S.FromParisClimateAgreement,”NewYorkTimes,June1,2017. “AmericaFirstEnergyPlan,”WhiteH.Sorrytopullout,butthat’sallwecando.PresidentDonaldTrumpannounceshisdecisionfortheUnitedStatestopulloutoftheParisclimateagreementintheRoseGardenattheWhiteHouseonJune1,2017.(PhotobyWinMcNamee/GettyImages)GovernmentSpending:Cut“waste”
Promisedtocutwaste.Budgeted$4.094trillioninfederalspendingintheFY2018budget,morethan$4.037trillionbudgetedforFY2017.Insteadofcuttingspending,heplanstoreducethedeficitbybringinginmorerevenue.
Sources:
“FY2018Budget.”O(jiān)MB,May23,2017.
“FY2017
BudgetAmendment.”O(jiān)MB,March16,2017.MythsEliminatetheDepartmentofEducationandtheEnvironmentalProtectionAdministration.CuttheEducationDepartmentby$10.4billionandtheEnergyDepartmentbudgetby$2.2billion.Budgeted$574.5billionfortheDepartmentofDefense,10percentmore.Sources: “FY2018Budget.”O(jiān)MB,May23,2017.
“FY2017
BudgetAmendment.”O(jiān)MB,March16,2017.Employment:BetheGreatestJob-ProducingPresidentinU.S.HistoryMorethan22.3millionjobs.Spend$1trillion
torebuild
U.S.infrastructure,whichisthemostcosteffectivewaytocreatejobs.Createjobsbyeliminating
outsourcing
andbringingjobsbackfromJapan,
ChinaandMexico.Keepthe
U.S.minimumwage
whereitissoU.S.companiescancompete.Sources:
“Trump's$500BillionInfrastructurePromiseCreatesMetalsRally,”Bloomberg,November9,2016.“TheEmploymentEffectsofMilitaryandDomesticSpendingPriorities”,UniversityofMassachusettsatAmherstDepartmentofEconomicsandPoliticalEconomyResearchInstitute,October2007.“TrumpChipsAwayatPostcrisisWallStreetRules,”TheWallStreetJournal,August13,2017.Debt:ReducetheDebtbyGrowingtheEconomy6PercentToofastforhealthygrowth.Wouldcreateinflation,aboom-bustcycleandthenacrash.Believesinsupply-side
economicsTaxcutswilldriveenoughgrowthtomakeupforthelosttaxrevenue.Source:“Trump‘sTaxPlanandHowItWouldAffectYou.”TheBalance,May19,2017.“Borrowknowingthatiftheeconomycrashed,youcouldmakeadeal.U.S.willneverdefaultbecauseyoucanprintthemoney.”References:“AmericaFirstEnergyPlan,”WhiteH.“DonaldTrump’santi-immigrationstancethreatenstheheartofAmericaninnovation.”TheVerge,November11,2016“FY2018Budget.”O(jiān)MB,May23,2017.“FY2017
BudgetAmendment.”O(jiān)MB,March16,2017.
“HowtoRepairtheHealthCareLaw,”TheNewYorkTimes,July29,2017.“TheEmploymentEffectsofMilitaryandDomesticSpendingPriorities”,UniversityofMassachusettsatAmherstDepartmentofEconomicsandPoliticalEconomyResearchInstitute,October2007.
“TrumpChipsAwayatPostcrisisWallStreetRules,”TheWallStreetJournal,August13,2017.“TrumpOrdersImminenttoRenegotiateNAFTA,BackOutofTPP,”CNNPolitico,January2
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