Trump's election will DOUBLE America's growth

[superbeets]

[h=1]Trump's election will DOUBLE America's growth because his tax cuts and spending boost will stimulate the economy, experts predict[/h]

• Donald Trump has promised infrastructure spending and tax cuts
• OECD has predicted these policies will double US growth by 2018
• But some economists are more sceptical about his spending plans

By CHARLIE MOORE FOR MAILONLINE
PUBLISHED: 10:55, 28 November 2016 | UPDATED: 16:00, 28 November 2016

 

[superbeets]

Trump's election will double America's growth because his tax cuts and spending boost will stimulate the economy, experts predict.
The US economy will grow by 2.3 per cent in 2017 and 3.0 per cent in 2018, said the Organisation for Economic Cooperation and Development.
That compares to estimated gross domestic product growth of 1.5 per cent this year.

 

[superbeets]

The Republican property tycoon's team has said he will devote $550billion to rebuilding decrepit infrastructure.
The incoming president also campaigned on promises for major corporate tax cuts as part of a wide-ranging blueprint for the limping US economy.
His infrastructure projects are forecast to combat inequality and energise discouraged workers.




'GDP is projected to return to a moderate growth trajectory in 2017 and strengthen in 2018, mainly due to the projected fiscal stimulus, which takes effect particularly in 2018,' the OECD said in its report.
'Indeed, projected fiscal support will boost GDP growth by just under 0.5 and 1 percentage point in 2017 and 2018 respectively,' the respected think-tank added.
Global growth would also benefit if the US president-elect's avowed spending and tax plans boost domestic investment and consumption, the Paris-based body said.
It now sees world GDP growth rising to 3.3 per cent next year and 3.6 per cent in 2018 but stuck to its 2016 forecast of 2.9 per cent.

+2


The US economy will grow by 2.3 percent in 2017 and 3.0 percent in 2018, said the Organisation for Economic Cooperation and Development

However, Trump's plans have been treated more sceptically by some economists who do not anticipate such a rosy outcome.
Ryan Bourne at the Institute of Economic Affairs notes that the success of Trump's infrastructure spending could depend on what he chooses to build.
'Rather than investing in things with high economic returns, political choices often mean investment in favoured regions, or on projects with lower economic returns but higher political rewards,' he wrote.
'Devoid of market pressures, state infrastructure projects are often beset by cost overruns.'
He notes that Japan spent $6.3trillion of public money on big projects and ended up with 'bridges to nowhere' while Spain was left with empty airports.
Moreover, infrastructure projects financed by borrowing will increased the national debt which already stands at $19.2trillion.
This means that more tax money will be spent on servicing this debt rather than funding public services.

 

[PatsFan1283]

Please no federal pork barrel spending.

Weve tried that more than a few times. Unsuccessfully.

 

[Willie99]

I think lower taxes and fewer regulations will stimulate the economy

Not a fan of government spending our way out of economic malaise, we've been trying that for 8 years now

As for the experts, half of them are always wrong

 

[Dave007inVegas]

I think lower taxes and fewer regulations will stimulate the economy

Not a fan of government spending our way out of economic malaise, we've been trying that for 8 years now

As for the experts, half of them are always wrong

Those two alone should do the job. But lets be serious, Obama didn't set the bar very high.

 

[MantisToboggan]

Phideltonomics.

Wouldn't be surprised if they announce that AK will be Secretary of the Treasury under Trump.

 

[Dave007inVegas]

Phideltonomics.

Wouldn't be surprised if they announce that AK will be Secretary of the Treasury under Trump.

Good one.

 

[roadreeler57]

One snowy day in late January, 2017, an old Veteran approaches the White House from across Pennsylvania Avenue where he’d been sitting on a park bench. He speaks to the U.S. Marine standing guard and says, “I would like to go in and meet with President Obama.” The Marine looks at the Veteran and says, “Sir, Mr. Obama is no longer President and no longer resides here. Mr. Trump is now the President and the occupant of the White House.” The old man says, “Okay,” and walks away.
The following day the same old Veteran approaches the White House and says to the same Marine, “I would like to go in and meet with President Obama.” The Marine again tells the old Veteran, “Sir, as I said yesterday, Mr. Obama is no longer President and no longer resides here. Mr. Trump is now the President and the occupant of the White House.” The man thanks him and again just walks away.
The third day the same old Veteran approaches the White House and speaks to the very same U.S. Marine, saying, “I would like to go in and meet with President Obama.” The Marine, understandably agitated at this point, looks at the old Veteran and says, “Sir, this is the third day in a row you have been here asking to speak to Mr. Obama. I’ve told you already that Mr. Obama is no longer the President and no longer resides here. Mr. Trump is now the President and the occupant of the White House. Don’t you understand?”
The old Veteran looks at the Marine and says, “Oh, I understand. I
JUST LOVE HEARING IT.”
The Marine snaps to attention, salutes, and says, “SEE YOU TOMORROW, SIR!”