Economic Update: The Economics of Trump
Friday, 18 November 2016 00:00 By Richard D. Wolff, Truthout | Audio Segment
Editor’s note: It’s possible the Trump economic plan will add vitality to the US economy in the short run, adding real jobs through massive spending on infrastructure and through tax cuts for large corporations; increasing interest rates for savers, retirement plans, and banks; increasing sales and profits in heavy industry and transportation; maybe bringing back some US jobs from overseas, and preventing some from being sent overseas; maybe even boosting sales and profits in the small business sector.
I (Richard John Stapleton) have advocated much the same plan in my writings for ten years, emphasizing fiscal policy by the Federal Government rather than monetary policy through the Federal Reserve System, with one major exception. I would increase taxes on large corporations and the elite rich to reduce the budget deficit and debt increase.
Trump’s plan is almost sure to increase the US budget deficit and add trillions more to the total debt. And it won’t work for more than a few years. But we might have at least one more economic party for the rich and maybe even the middle class before the whole thing comes crashing down.
Richard Wolffe’s economic update in this radio broadcast presents a feasible plan that might create stability and sustainability for the long run.
Richard Wolffe is a professor of economics at The New School in New York City who has established a national network of supporters, collaborators, conferences, web sites, and social media outlets for educating the US population about economic issues. Wolffe’s network is one of the best economic education systems available for US citizens, free of charge, providing economic education sorely needed by most voters.
Give his Economic Update: The Economics of Trump a listen now by clicking here http://www.truth-out.org/news/item/38430-economic-update-the-economics-of-trump.
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