November 21, 2016 at 3:07 pm #25078Andy BrownParticipant
Whereas the following information is not complicated, it will be misinterpreted by bacon and he will bloviate a response to try and derail the thread topic.
The meat and potatoes of drumpf’s economic plan won’t work. I think most of us have known that for a year or more. You can’t pay for massive federal spending with tax cuts for the wealthy. It is that simple. Dubya started two wars and created the deepest recession on record. drumpf may indeed start a war but he will usher in recession without one if he tries to rebuild infrastructure without fiscal responsibility, something his own party doubts (read the full article).
Conservatives are scared he’ll blow a massive hole in the federal budget. Democrats are terrified he might succeed.
drumpf’s plan to Make America Great Again is an unusual mixture of the traditional Republican avocations—cutting federal spending on the poor, privatizing government programs, fewer regulations, and massively regressive tax cuts—and a few populist economic proposals straight out of the Obama playbook. Central to drumpf’s populist appeal is a trillion-dollar infrastructure plan, which the president-elect claims will create jobs and jump-start economic growth, but the former real-estate developer’s vision for a massive construction boom are already running into problems. For one, there are plenty of reasons to doubt whether his specific approach will be effective—critics point out that giving large tax credits to private investors would likely leave the country’s most needed repairs (like Flint’s water system) unaddressed, while pouring money into projects that are already profitable (like the electrical grid). Democrats, who ordinarily approve of increased fiscal spending on infrastructure, are wary to provide political cover to the drumpf administration by backing his economic plan. And congressional Republicans, who spent the last eight years relentlessly attacking President Barack Obama over government spending, are reportedly worried about blowing a giant hole in the budget. Per Politico:
Key lawmakers say they’re in the dark on how Trump’s plan would work — with some conservatives simply hoping that his call for massive tax breaks will provide an economic jolt that makes the hard spending decisions easier.
Even congressional Republicans who have long championed spending on transportation projects say they don’t yet know the details of Trump’s 10-year proposal, which the president-elect has vowed will “put millions of our people to work” while making U.S. infrastructure “second to none.”
Republicans have overcome their aversion to deficit spending before—the national debt soared during the Reagan years and under both Presidents Bush. The greater danger is for Democrats, who risk ceding credit for a massive public works program to the party that has traditionally fought against infrastructure improvements. Without his infrastructure plan, it’s not clear what would differentiate Trump’s economic agenda from the same slate of Republican policy proposals that have exacerbated the income gap in years past.November 21, 2016 at 4:53 pm #25082LurkingGrendelParticipant
Details are emerging.
It’s corporate welfare disguised as a stimulus/infrastructure project.
Because of course it is.
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