20 October 2016

Trumponomics

From the transcript of the final debate:

WALLACE: Our national debt, as a share of the economy, our GDP, is now 77 percent. That’s the highest since just after World War II. But the nonpartisan Committee for a Responsible Federal Budget says, Secretary Clinton, under your plan, debt would rise to 86 percent of GDP over the next 10 years. Mr. Trump, under your plan, they say it would rise to 105 percent of GDP over the next 10 years. The question is, why are both of you ignoring this problem? Mr. Trump, you go first.

TRUMP: Well, I say they’re wrong, because I’m going to create tremendous jobs. And we’re bringing GDP from, really, 1 percent, which is what it is now, and if she got in, it will be less than zero. But we’re bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent. And if we do, you don’t have to bother asking your question, because we have a tremendous machine.

Catch that? The national debt rising to 105% of GDP isn’t a problem, says Trump, because he’ll raise GDP by 5%.

© mathew 2017