Trump’s tax plan, which overwhelmingly benefits corporations, would balloon the national debt, which currently sits at $36.2 trillion. Nonpartisan groups that have assessed the president-elect’s agenda predict that Trump’s second term could cost the nation much more, possibly by as much as $15 trillion, reported The Washington Post.
But what’s good for Trump isn’t necessarily good for Americans: in a joint letter released before the election, nearly two dozen Nobel Prize-winning economists formally warned against Trump’s economic plan, arguing that the MAGA leader’s stiff tariff increases and tax cuts would spell disaster for the average American.
A different path forward to scrimp and save includes cutting “unauthorized” spending, or money that Congress has not explicitly authorized. Elon Musk and Vivek Ramaswamy, the assumed co-chairs of the Department of Government Efficiency (which does not yet exist), have claimed that slashing this category would save $516 billion. But it would also come with major cuts to veterans’ health care, the State and Justice Departments, and NASA.
Another cashflow could come from eliminating the Department of Education, which would save some $200 billion from the deficit—while simultaneously dismantling the nation’s education system, which locally relies on billions from the federal government to support low-income and low-performing schools.
Read More Details
Finally We wish PressBee provided you with enough information of ( Trump Eyes Axing These Key Programs to Help His Friends Get Richer )
Also on site :