Quantcast
Connect with us

These are the 7 biggest failures of Trumponomics

Published

on

- Commentary

Donald Trump and Republicans in Congress keep crowing about the economy, when in reality Trumponomics has been a disaster. Here are its 7 biggest failures:

1. Trump promised to bring down America’s trade deficit “as fast as possible.” Instead, the trade deficit has hit an all-time high. The United States is now purchasing more goods and services from the rest of the world than we sell abroad than at any time in history.

ADVERTISEMENT

2. As a presidential candidate in 2016, he said he could completely eliminate the federal debt in 8 years. Instead, the federal debt has exploded thanksto Trump and the GOP’s $1.9 trillion tax cuts for the wealthy and corporationsThey’re already using the growing debt to threaten cuts to Social Security, Medicare, and Medicaid.

3. He promised to boost the wages of American workers, including a $4,000 pay raise for the average American family. Instead, wages for most Americans have been flat, adjusted for inflation. Meanwhile, over the same period, corporate profits have soared and the rich have become far richer, but the gains haven’t trickled down.

4. His administration said that corporations would invest their savings from tax cuts. Instead, corporations spent more money buying back shares of their own stock in 2018 than they invested in new equipment or facilities. These stock buybacks provide no real benefit for the economy, but boost executive bonuses and payouts for wealthy investors.

5. He promised a tax cut for middle-class families. Instead most Americans will end up paying more by 2027.

6. He promised to keep jobs in America and crack down on companies that ship jobs overseas. Instead, his tax law has created financial incentives for corporations to expand their operations abroadTrump’s trade wars have also encouraged companies like Harley Davidson to move production overseas.

ADVERTISEMENT

7. He promised to “drain the swamp” of Washington lobbyistsInstead, he’s put them in charge of health, safety, and environmental protections–which has endangered most Americans while increasing corporate profits even further.

The real recipe for economic growth is to invest in Americans–in their health, education, job training, and infrastructure.

But Trumponomics has exploded the deficit, hurt ordinary Americans, and lined the pockets of the wealthy and corporations.

ADVERTISEMENT

Don’t let Trump and Republicans claim otherwise.

This article was originally published at RobertReich.org

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

‘Scared bunker boy’ Trump mocked for ‘barricading himself inside’ the White House instead of traveling to Bedminster

Published

on

President Donald Trump pulled out of spending the weekend at his golf club in Bedminster, New Jersey. While local police said that there wasn't any expectations of danger, Twitter users wondered if the reason was due to the optics or due to Trump's fears from protesters.

Last Friday, Trump was rushed to the presidential bunker to protect him from a few hundred protesters the Secret Service was concerned were getting too close to the White House. In the days that followed the crowds got larger and windows were broken out of stores. It's unclear if the Secret Service brought Trump to the bunker in the days that followed the first trip.

Continue Reading

Commentary

Donald Trump is the worst case scenario

Published

on

By

Donald Trump is not responsible for America’s racial politics, at least not completely. Racial injustice is America’s original sin and you can’t pin that on the current president. That being said, it’s hard to imagine anyone more ill-equipped to handle the current state of unrest. Ill-equipped may not even be the right term to use. He is completely unequipped to deal with the outpouring of anger being expressed on the streets of our cities. He is incapable of listening to anyone besides himself. He cannot sympathize. He cannot empathize. He cannot lead, he doesn’t want to.Instead, he resorts t... (more…)

Continue Reading
 

Breaking Banner

Pathetic Trump tries to reshoot reality so we won’t know he’s a wimpy ‘Bunker Boy’

Published

on

Whatever the specifics of what Donald Trump's diagnosis may be, from the moment protesters started to hit the streets to denounce police brutality, one thing was certain: The president's brainworms would direct his energies away from doing anything useful and toward the task of managing his ego, relying on the reality TV tricks he mistakes for the real work of presidenting.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image