Friday 22 September 2017

'Trumponomics' would mean a hair-raising ride for US economy

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David McWilliams

David McWilliams

On Monday, following Hillary Clinton's pneumonia diagnosis, the bookies dramatically cut the odds that Donald Trump will be the next president of the US. Years ago, Bill Clinton said it was all about "the economy stupid". But is it this time? If so, let's have a look at Trump's economics.

Trump's economics make absolutely no sense, have no coherence and will lead to a massive American budget deficit.

Trumponomics is Reaganomics without the subtlety. Despite being vilified as a lightweight by heavyweight economists, Reagan's time is remembered as a time of prosperity in the US. Having economists as your cheer-leaders can be political suicide: just ask David Cameron. Reagan, the two-term president, was also responsible for the 'Reagan Democrats'. These were traditional Democrats who voted Republican in support of Reagan's vision for America. Could there be hidden 'Trump Democrats' out there?

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