Donald Trump has an economic “to do” list — tax cuts, spending increases, paying for The Wall, renegotiating trading deals and creating jobs.
I believe he’s going to have trouble accomplishing all these things. Here’s why.
The US is already $20 trillion in debt and last year’s deficit grew that staggering total by nearly $600 billion — those are the irrefutable and inconvenient facts.
That makes traditional cures for the economic blahs, like spending more and lowering interest rates, unable to be properly administered. You can’t spend more and lower rates when you are already broke and borrowing costs are already ultra-low.
Article source link :