The Briefing Room

General Category => Politics/Government => Topic started by: libertybele on February 24, 2019, 11:14:45 pm

Title: 'Unhinged madman': Former U.S. budget director says Trump is 'conducting 4 wars on the economy'
Post by: libertybele on February 24, 2019, 11:14:45 pm

Though some valid points are made, the title of "unhinged madman" is over the top! No crisis at the border???  Who's unhinged here?

'Unhinged madman': Former U.S. budget director says Trump is 'conducting 4 wars on the economy'

.... the former director of the Office of Management and Budget (OMB) under President Ronald Reagan, told Yahoo Finance.... “He's conducting four wars on the American economy, and it's not going to make it great again.”.....

1. Trade war

In March 2018, Trump slapped a 10% tariff on $200 billion worth of Chinese goods. He accused the country of unfair trade practices that were hurting Americans and the U.S. economy.....


2. Border war

Stockman then referred to Trump’s hardline stance against illegal immigrants as a “border war on immigrant labor.”

Because of shifting demographics, “the domestic labor force is shrinking,” Stockman explained. “We need immigrant labor. We shouldn't be having a, you know, silly battle over a wall in a border where there isn't a crisis.”....

3. Attacking the Fed

Trump’s third war was a political one, said Stockman. And it was aimed at the Federal Reserve for its interest rate hikes.

“He's conducting a political war on the Fed that finally was getting enough courage up to normalize interest rates,” Stockman explained. ...............

4. War on the nation’s solvency

Stockman’s final gripe with Trump is over the national debt.

As the number soars past $22 trillion — which is 22 times higher than when Reagan and Stockman were in office — Trump remains mum on the issue..........

https://www.yahoo.com/finance/news/trump-economy-budget-economy-160431196.html (https://www.yahoo.com/finance/news/trump-economy-budget-economy-160431196.html)