How Trumponomics Could Undermine the U.S. Economy

Donald Trump has floated a ten -per-cent tariff on all imported goods.

He has promised to deport millions of undocumented workers, which would accentuate labor shortages that already exist in some parts of the economy.

The Congressional Budget Office is projecting the 2024 budget deficit at seven per cent of G.D.P. , more than double the level it was at eight years ago .

Larry Kudlow , the former head of the White House's National Economic Council , says tariffs will hurt consumers.

He also says they won't lead to a fall in oil prices, which he says would amount to “major-league counter-inflation” Peter Bergen : Trump ’s tariffs would cost a typical middle-income American household about 17 hundred dollars a year, which is about 2.7% of its spending power.

Trump supporters on Wall Street are reassuring themselves that he would appoint a responsible Secretary of the Treasury , who would keep the boss’s Fed -bashing in check.

Nobody really knows what a newly empowered Trump would do, especially if the Republicans were to sweep the congressional elections.