“A Great Economy?” That Depends on Whether you Believe Trump or the Facts

Capitalism (2)

Trump is a magician; but not a very good one. All intelligent Americans fully understand how his illusions are accomplished. His claim about our nation’s “great economy” is a façade which is about to crumble around him.

Peter Schiff, CEO and chief global strategist for Euro Pacific Capital, said Monday that the economy is not as strong as Trump claims. Schiff predicted the Great Recession of 2008 and is deeply concerned about America’s financial security in the near future.

The primary reason for his concern is the biggest increase in our national debt in our country’s nearly 244-year history.

The national debt rose $1.2 trillion in 2019; that’s right; that’s “trillion” with a “T.” Think about it; that’s more than $100 billion dollars each month. This number will increase in 2020. In a “good” economy the deficit would be in decline, not growing. Ill advised tariffs and huge corporate tax breaks have removed billions of dollars from the national treasury.

Schiff is predicting that the next recession will be much worse than in 2008. Small businesses will close their doors, and large corporations will layoff tens-of-thousands of employees. Chrysler and General Motors will need bailouts. Foreclosures will return as working class Americans find themselves unable to pay their mortgages.

All of this will be on the shoulders of Trump and the Trump party. Since Ronald Reagan began his fiscal policy of “trickle-down economics,” every Republican has failed their country with the same lie. The rich are not “job creators;” they are greedy men and women who have no interest in their country’s future.

If Trump is allowed to remain in office by the Trump Party, by the end of 2020 nearly three trillion dollars will have been added to the national debt. Republicans are failures and incapable of governing 330 million Americans. As it happened with President Obama, another Democrat will be forced to save our nation from the failures of a Republican president.

“The Truth Lives Here”

Op-ed by James Turnage

SOURCE

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