According to Moody’s Analytics, a Trump presidency would be bad news for the nation’s economy. Despite his fame as a businessman, Trump has made a lot of policy promises that would be bad for business. Moody’s looked at scenarios in which all of Trumps policies become law as stated, in which only a few are passed, or “watered-down” versions are passed by Congress, and in all three cases the end result after four years was a weaker American economy than it is today.
Among the highlights of predicted problems are a higher national deficit due to tax cuts, a labor crunch after deporting 11 million undocumented immigrants, and an $85 billion export reduction due to higher tariffs. It seems pretty obvious that Trump hasn’t really thought these proposals through, and instead is just saying things that his supporters want to hear. Things which won’t fix problems, but will cause more problems.
A Trump presidency would benefit very high income households, the 1%, but would negatively impact nearly everyone else, with a smaller, weaker economy, higher unemployment, and fewer jobs overall.
Trump has, of course, responded to the report by stating that Mark Zandi, who led the team that did the report, has donated to Clinton, but Zandi was also an advisor to Senator John McCain during his 2008 campaign, so it doesn’t seem like he’s a diehard Democrat out to destroy Trump.
This isn’t the first such report to indicate that Trump and his policies would be bad for the American economy. A number of economists and economic observers have claimed that he would have a negative impact. Trump purports to be a successful businessman and seems to want to run the country along those lines, but considering how many failed ventures he has under his belt, it doesn’t seem that his business plans would benefit the US economy.