President Donald Trump swept into office with a bold plan to remake America’s economy. But the realities of a persistent affordability crisis, low favorability ratings and biting election losses for his Republican party are forcing him to remake his plan on the fly.
Although still in the early stages, Trump’s Plan B appears to be a spaghetti-on-the-wall strategy that includes $2,000 tariff rebate checks, 50-year and portable mortgages and lower tariffs on common grocery items.
Each tactic comes with significant question marks – and some are so radical economists fear they could squeeze Americans’ finances even more.
Trump’s Plan A
The original Trump economic plan was based on three bold assumptions:
America could bring in hundreds of billions of dollars – perhaps even trillions – through tariffs that would fill the country’s coffers without causing inflation to rise. Massive government spending and regulation cuts could potentially save $1 trillion or more each year. It would incentive businesses to grow and invest in the United States, creating a hiring boom.
Continue Reading on CNN
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.