Trump's Deficit Disaster for 2025: Wharton Takes Down the Don

Published: Sep 02, 2024 Duration: 00:04:33 Category: News & Politics

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imagine if you will the scene at Wharton the illustrious institution of Higher Learning where the Gilded Halls once echoed with the footsteps of a certain former student who now lays claim to the title of Super Genius yes the very same Donald J Trump whose economic Wizardry has supposedly been carved into the granite of History itself but oh the irony it turns out that the mighty Warton in its infinite wisdom has decided to measure the genius of Trump's economic plans and spoiler alert folks it doesn't look good for our hero in a stunning twist worthy of a daytime soap opera The Pen Warton budget model a beacon of nonpartisan fiscal truth has taken a good hard look at the economic proposals from both a potential second Trump Administration and a Harris Administration and guess what the numbers are in and they're about as kind to Trump as a New York Times editorial according to these supposedly Super Genius economists Trump's budget would blow up the national deficit like it's a Fourth of July firework display big loud and ultimately leaving a mess for everyone to clean up in contrast kamla Harris's economic plan is the fiscal equivalent of a quiet evening with a good book steady responsible and unlikely to result in any emergency trips to the ER let's not forget this analysis is coming from Wharton yes that Wharton the same hallowed institution that Trump himself attended and has since lovingly referred to as a Bastion of Super Genius stuff you know because when it comes to self- congratulation no one does it quite like Trump yet here we are with Wharton's own model essentially declaring that Trump's budgetary dreams are more akin to nightmares but it doesn't stop there the reports plural because one just isn't enough to underscore the fiscal catastrophe indicate that Trump's economic proposals would increase the deficit nearly five times more than those of Harris five times that's like comparing a trip to the grocery store to a week-long shopping spree on Rodeo Drive except instead of of bags filled with designer clothes you're left holding a bill the size of the national debt and who's leading the charge in broadcasting this fiscal Fiasco none other than CNBC The Very Network that employs Joe kernin a man who seems about as concerned with these findings as a cat is with quantum physics but the numbers don't lie even if seems to shrug them off Trump's budget would spike the deficit faster than you can say kof while Harris's plan takes a more measured approach like the calm responsible adult in the room oh but there's more let's dive into the macroeconomic Meer shall we for those keeping score at home the vast majority of jobs created since the end of the Cold War have been under Democratic administrations that's a whopping 50 to1 ratio you read that right 50 to1 it's the the kind of statistic that makes you wonder if someone's been spiking the punch at the gop's economic planning meetings then there's Trump's project 2025 a tax proposal that promises to raise taxes on the bottom 90% while surprise surprise cutting taxes for the rich it's almost as if Trump's fiscal policy is designed with a for the 1% by the 1 cent label stitched right into the fabric remember that $2 trillion tax cut he pushed through with the confidence of a man who's never met a mirror he didn't like the one that was supposed to pay for itself well news flash it didn't we could go on about GDP performance comparing the Trump Pence Duo to the Biden Harris team or how about unemployment levels across various demographics and let's not forget the stock market which under President Biden and vice president Harris seems to be on a NeverEnding roller coaster of record-breaking highs it's as if the stock market is auditioning for the role of happiest place on Earth and making a strong case for the title so to sum it all up if you were looking for economic sanity you might want to steer clear of anything labeled Trump budget 2.0 because according to the very people who schooled Trump on economics yes his own alma mater it's a disaster waiting to happen meanwhile Harris's plan is out here doing its best impression of a well-b behaved fiscally responsible adult who would have thought certainly not the Super Genius himself

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