Economists Warn Another Trump Term Would Ruin the US Economy

Economic Performance Under Biden-Harris

The Biden-Harris economy has shown remarkable growth, achieving a soft landing with job creation and controlled inflation. New data shows that prices only rose 0.1 percent in August, leading to an annual inflation rate down to 2.2 percent.

Trump’s Threat to Economic Stability

Conversely, Donald Trump’s radical economic plan proposes steep tariffs, which could reintroduce high inflation, endangering the progress made. His proposed tariffs, likened to the disastrous Smoot-Hawley Tariff Act, could lead to inflation exceeding 20 percent.

Implications of Trump's Economic Policies

• High Inflation Risks: Trump's tariffs may spark significant price increases for consumers.
• Soaring National Debt: The Penn Wharton Budget Model estimates $5.8 trillion in additional deficits over ten years from his policies.
• Threat to Fed Independence: Trump's public denouncements of the Federal Reserve could undermine economic stability.

Harris' Economic Vision

In contrast, Kamala Harris offers sound economic proposals that prioritize middle-class tax cuts and promote job growth. Under her vision, 95 percent of Americans would see tax reductions, and significant improvements in infrastructure and clean energy initiatives are expected.

Conclusion: The Choice Ahead

Economists broadly agree that a second Trump term poses greater risks to the US economy compared to a Harris presidency, which might advance sustainable economic growth.