Friday, December 13, 2024

Our entire economy could hinge on whether Trump is too incompetent to implement his plans.

Somebody has been making a list and you can bet that we'll be checking it twice.


But Trump's biggest promise didn't make that list. He repeatedly blamed almost all of our economic challenges on undocumented immigrants and promised to deport them all. 

This week Democrats on the Joint Economic Committee reported that the president-elect's plans would not only fail to make our economy stronger, they would actually make things a whole lot worse. The title of their report says it all: "Mass Deportations Would Deliver a Catastrophic Blow to the U.S. Economy."
Depending on how many immigrants are deported, these mass deportations would: 
  • Reduce real gross domestic product (GDP) by as much as 7.4% by 2028,  
  • Reduce the supply of workers for key industries, including by up to 225,000 workers in agriculture and 1.5 million workers in construction,
  • Push prices up to 9.1% higher by 2028, and
  • Cost 44,000 U.S.-born workers their jobs for every half a million immigrants who are removed from the labor force.

They also noted that Trump's plan "would cut $23 billion in funds for Social Security and $6 billion from Medicare each year because these workers would no longer pay into these programs."

As a marker, Democrats pointed out that, when it comes to GDP, "the economy shrank by 4.3% during the Great Recession." Deporting 11 million undocumented immigrants would more that double that.

What the report didn't address is that, in addition to those catastrophic results, it would cost the federal government over $300 billion to implement Trump's plan. For some perspective, that is about twice the annual budget of the entire Department of Homeland Security.

All of that happens if Trump is able to deliver on the biggest promise he made during the 2024 campaign. It could be that this one goes the way of his 2016 promise to "build the wall and make Mexico pay for it." In other words, the malevolence of Trump and his minions (ie, Stephen Miller) could be overwhelmed by their incompetence. 

So how does that feel America? Our entire economy could hinge on whether or not the next president is too incompetent to implement his plans. Jeeze!

No comments:

Post a Comment

Our entire economy could hinge on whether Trump is too incompetent to implement his plans.

Somebody has been making a list and you can bet that we'll be checking it twice. But Trump's biggest promise didn't make that li...