Moody’s: Trump Presidency Would Cause Recession

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The Hill: “Donald Trump’s economic proposals would isolate the United States, hurt its economic growth, increase the federal deficit and cost millions of American jobs, according to new analysis.”

“The grim findings from Moody’s Analytics state that the nation’s wealthiest would benefit the most from the presumptive GOP presidential nominee’s proposals, while middle- and lower-class Americans would be hurt the most.”Moody's

“The economy will be significantly weaker if Mr. Trump’s economic proposals are adopted. Under the scenario in which all his stated policies become law in the manner proposed, the economy suffers a lengthy recession and is smaller at the end of his four-year term than when he took office,” the report said.”

“By the end of his presidency, there are close to 3.5 million fewer jobs and the unemployment rate rises to as high as 7%, compared with below 5% today. During Mr. Trump’s presidency, the average American household’s after-inflation income will stagnate, and stock prices and real house values will decline.”

“The new study attempts to analyze Trump’s plan similar to how agencies like the Congressional Budget Office calculates the economic impact of plans offered by the president or Congress. Moody’s said it would soon be applying the same test to proposals from Hillary Clinton, the presumptive Democratic nominee.”

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