Summary

Americans, frustrated with high prices despite a strong economy, voted for change with Donald Trump’s election. Trump promises to reverse Biden-era policies, vowing steep tariffs, tax cuts, and mass deportations.

Economists warn his plans could worsen inflation, increase the federal deficit, and destabilize growth. The Peterson Institute predicts Trump’s tariffs could drive up costs for American consumers, while deportations could shrink GDP by $5.1 trillion.

His proposed tax cuts could add $4.1 trillion to the deficit, while economists question his willingness to address fiscal imbalances through spending cuts.

    • neomachino@lemmy.world
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      5 days ago

      People genuinely don’t understand this and it’s scary.

      I feel like I’m going crazy explaining what a tariff is to people over and over who have never heard the word before but are praising it as a way to make everything cheaper and boost our economy