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.

  • twistypencil@lemmy.world
    17·
    2 months ago

    Fwiw, appliances and computers have not really been affected by inflation, it’s more housing, health care, childcare, groceries and gas

    • SkunkWorkz@lemmy.world
      12·
      2 months ago

      Trump’s tariffs will impact appliances and computer parts. All that stuff is made abroad and most brands are foreign brands and the Chinese brands will get taxed even higher.

    • inclementimmigrant@lemmy.world
      11·
      2 months ago

      So

      1. We’re not talking about inflation due to COVID and corporate price gouging, we’re taking about tariffs.

      2. Appliances and computers would suffer from tariff-induced inflation because the parts come from China and elsewhere not the US.

      3. Housing was affected, mostly new home prices, with his Canadian lumber tarrifs. Which is another story of tarrifs not always working as intended.