Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president.

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.

  • Zier@fedia.io
    63·
    2 months ago

    Economic change will come. Food +15-35% Imported goods +20-45% Taxes will rise Wages will stagnate Unions will be busted Social services will be discontinued

    • jonne@infosec.pub
      112·
      2 months ago

      If tariffs are instated, unions will gain a huge amount of leverage in those industries domestically, even with a hostile NLRB.

      • WhatAmLemmy@lemmy.worldEnglish
        201·
        1 month ago

        You think fascists aren’t going to criminalize unions? The constitution, rule of law, precedent… None of these arbitrary barriers mean anything to tyrants, especially tyrants with no checks ave balances; commanding the most advanced war machine in history.

        All of this has happened before, and ~100 million people were murdered or killed. That’s the equivalent of 400-500 million today. Europe and Asia were leveled. Nobody had nukes until the final 2 months, and those were all of the nukes in existence. Today there are several thousand.

        • jonne@infosec.pub
          5·
          1 month ago

          A general strike is basically the only check left, and it’s definitely not going to be pretty. But it’s not like there’s anything else you can count on, the courts are in his pocket, police love Trump, Congress will enable him, so it’s unions or there’s nothing else left.

      • twistypencil@lemmy.world
        8·
        1 month ago

        Except they won’t be able to exercise that leverage for years, bringing manufacturing home is not just flipping a light switch. We don’t even have basics

        • jonne@infosec.pub
          2·
          1 month ago

          Yeah, of course. Some industries were already starting the onshoring though, and there’s going to be a ton of lobbying by industries to actually not implement those tariffs, so we’re not even sure this is going to happen.