Trump to outline economic plan as he seeks to reverse slide
ASSOCIATED PRESS
Republican presidential nominee Donald Trump speaks during a campaign rally at Windham High School, in Windham, N.H. on Saturday. Trump is focusing his economic message on boosting jobs and making the country more competitive on a global stage by cutting business taxes, reducing regulations and increasing domestic energy production.
MANCHESTER, N.H. » Donald Trump is focusing his economic message on boosting jobs and making the country more competitive on a global stage by cutting business taxes, reducing regulations and increasing domestic energy production.
With a speech Monday to the prestigious Detroit Economic Club, the Republican presidential nominee seeks to reset his campaign and delve into a subject — the economy — that is seen as one of his strengths. It also is aimed at showing that Trump is a serious candidate in spite of a disastrous stretch that prompted criticism from Republicans and Democrats alike.
Controversy over Trump’s repeated criticism of a Muslim-American family whose son, an Army captain, was killed in the Iraq War took attention away from his nominating speech at the Republican National Convention. His refusal for days to endorse the House Speaker Paul Ryan in Tuesday’s Wisconsin primary — he announced his backing of Ryan last Friday — was another damaging distraction.
While polls have shown that voters have deep concerns about Trump’s temperament and fitness for office, recent polling puts him ahead of or on par with his Democratic rival, Hillary Clinton, on whom people trust more on the economy. She is set to deliver her own economic speech in Detroit on Thursday, one her aides say will lay out her plan for “the biggest investment in good-paying jobs since World War II.”
When he speaks Monday in the city that has become a symbol of the U.S. manufacturing plight, Trump is expected to reiterate his plan for reducing the corporate tax rate to 15 percent from the current 35 percent — in an effort to draw new investment — as well as eliminating the estate tax and calling for a temporary moratorium on new regulations.
Among his specific proposals will be allowing parents to fully deduct the cost of childcare from their taxable income. He also is also expected to call again for boosting domestic energy production — a plan his campaign estimates can add $6 trillion in local, state and federal revenue over the next four decades.
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An economic adviser to the campaign, Stephen Moore, who helped work on the speech, said Trump’s policies were aimed at boosting economic growth in an effort to bolster middle-class workers, whose wages have stagnated for decades.
“We need much, much faster growth if we’re going to have wages rising and salaries rising and middle-class incomes rising,” he said. “How do we get back to a healthy rate of economic growth which we haven’t had in a decade?”
Trump will also discuss new investments in infrastructure, revisit his opposition to current trade deals and vow to improve intellectual property protections.
Trump is also expected to spend much of the speech contrasting his approach with that of Clinton, whom his campaign accuses of pushing the same “stale, big government policy prescriptions that have choked economic growth in America and led to over 40 years of wage stagnation.”
Trump campaign chair Paul Manafort said in interview with Fox Business Network on Sunday that Clinton is “going to raise taxes, lots of taxes, on everyone,” making the “recovery, which is already the weakest since 1949, even worse.”
“Starting Monday, we’re going to be announcing our economic plan. When we do that, we’re comfortable that we can get the agenda and the narrative of the campaign back on where it belongs, which is comparing the tepid economy under Obama and Clinton, versus the kind of growth economy that Mr. Trump wants to build,” he said.
Clinton has proposed raising taxes on the highest-income earners, including a surcharge on multimillionaires, but analysts have found lower-income earners would see little change beyond measures like additional tax credits for expenses like out-of-pocket health care costs.
While Trump is delivering his speech, Clinton will be in Florida talking about jobs.
This won’t be the first time Trump lays out his economic vision. He first unveiled his tax plan in the fall of 2015, framing it as a boon to the middle class. “It’s going to cost me a fortune,” the billionaire businessman told reporters as he vowed to lower taxes across the board without exploding the deficit.
But a host of independent groups crunching the numbers soon concluded otherwise. The plan, they said, dramatically favored the wealthy over the middle class and would increase the debt by as much as $10 trillion over the next decade.
Trump had promised at the time that he would make up for lost revenue by closing a slew of loopholes. But like so many of his plans, he declined to provide specifics. And a companion plan on reducing government spending, which he had promised would follow, never came.
Moore said that, while Trump still favors the plan he unveiled in September, his team had added new specifics and made changes “that will significantly reduce the cost of the plan.”
27 responses to “Trump to outline economic plan as he seeks to reverse slide”
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If things go well, Trump’s advisors will write out a plausible plan–and he’ll read the teleprompter without going on a tangent. He’s been a successful wheeler-dealer salesman, not a CEO, and has no clue when it comes to the complex mechanics of economics.
Or, he might get bored of reading the script, revert to insulting people and burning bridges. What are the odds of that happening?
Obama/Clinton have been around too long. They will say anything but nothing changes. Trump knows more about economics than the two combined. They are two shyster lawyers who live off the backs of minorities.
Hmmmn, the Trump slide was it a a blip or a reflection in the huge systemic and message gaffes in his campaign:
Hillary Clinton’s polling surge is showing no signs of fading. She leads Donald Trump, on average, by about 7 percentage points in national polls, and is an 83-percent favorite to win on Nov. 8, according to our polls-only model. Our polls-plus model — which accounts for the “fundamentals,” as well as the tendency for a candidate’s numbers to temporarily rise after his or her convention — gives her a 76 percent chance. Those are her largest advantages since we launched our election forecasts back in June. Here’s polls-only
A new ABC News/Washington Post national poll published on Sunday showed Clinton up 8 percentage points among registered voters. Clinton’s lead jumped 4 points compared to the previous ABC News/Washington survey, conducted before the conventions.
A Morning Consult poll, also published Sunday, also found Clinton up 8 points among registered voters. Clinton was up 5 percentage points in the same poll last weekend, conducted after both conventions. That is, Clinton’s post-convention surge has continued in Morning Consult’s polling.
Two national tracking polls which have generally shown good numbers for Trump also found Clinton building or holding onto her post-convention bounce. Clinton led by 1 percentage point in the latest USC Dornsife/LA Times survey, and by 6 points in the CVOTER International poll — both matching her largest leads from those pollsters.
Clinton notched an 11-percentage-point edge in Michigan in an EPIC-MRA survey.
And she led Trump by 12 points in a new YouGov survey of Virginia.
Fixing the MESS left by O will be daunting but if there’s someone who can set America in the RIGHT direction The DONALD is the MAN!
Blame O for the WORST GDP for any potus and a LOW 62.8% Labor Participation Rate in current American history.
Blame Obama for the strongest recovery from the Bush Recession among industrialized countries. Blame Obama for the longest period of sustained job growth in history. Blame Obama for cutting the unemployment rate in half. Blame Obama for doubling the Dow index.
Sure will blame Obama for all his lies—http://blogs.wsj.com/economics/2016/07/29/
By ERIC MORATH
Jul 29, 2016 10:39 am ET
204 COMMENTS
Even seven years after the recession ended, the current stretch of economic gains has yielded less growth than much shorter business cycles.
In terms of average annual growth, the pace of this expansion has been by far the weakest of any since 1949. (And for which we have quarterly data.) The economy has grown at a 2.1% annual rate since the U.S. recovery began in mid-2009, according to gross-domestic-product data the Commerce Department released Friday.
Republicans effectively sabotaged efforts to recover from the Bush Recession for several reasons — cynically ignoring how their policies would destroy what little was left of Americans’ economic security, they thought that a poor recovery would benefit them at the polls and, predicting that Obama’s economic stimulus would trigger runaway inflation and spiraling interest rates, they clung to economic theories that have been proven wrong over and over and over. For 7 years we’ve been waiting for the spike in interest rates and inflation.
As expected, blame it on the Republicans—-The ability of policymakers to stimulate economic growth is dwindling rapidly, and both central banks and governments around the world are running out of options, according to new research from analysts at Barclays.
In Barclays’ Global Economics Weekly note, subtitled “Diminishing policy power,” analyst Christian Keller argues that the ability of central banks or governments to fix things through fiscal or monetary stimulus if the world faces an “adverse shock” to its economy is “increasingly exhausted.”
Since the financial crisis, central banks around the world have embarked on unprecedented levels of loose monetary policy, cutting interest rates and launching huge packages of quantitative easing to try to facilitate inflation and economic growth.
The level of easing is such that, as Bank of America Merrill Lynch noted on Friday, central banks have now cut interest rates 666 times since the collapse of Lehman Brothers in 2008. The Bank of England’s cut to 0.25% from 0.5% on Thursday is the latest.
All of this policy action hasn’t stimulated anywhere near as much activity as expected. Growth around the world remains subdued, with the eurozone — where interest rates are below zero and bond-buying programmes have been enormous — particularly weak. The problem, Barclays says, is that there is not much more the likes of the European Central Bank can do to boost the economy.
The unfortunate thing is that Mr. Trump obviously knows nothing about economic policy. Zero. What he has proposed – dramatically lowering taxes and increased spending – would further add to the national debt. He said that his plan would do just the opposite. And of course, his plan is aimed squarely at helping the very wealthy. Naturally.
Mr. Trump remains totally ignorant on the basics of governance. He knows absolutely nothing.
AEA Endorses Donald Trump for President
The American Energy Alliance is pleased to announce its endorsement of businessman Donald J. Trump for President.
AEA President Thomas Pyle issued the following statement:
“The U.S. is at a crossroads when it comes to our federal energy policy. Over the last eight years President Obama has subjected the American people to policies that fundamentally transform our energy economy into just another politicized arm of Washington. President Obama has rewarded his contributors with government mandates and taxpayer subsidies, rather than allowing Americans to choose what works for them. The outcome of this election will determine whether we continue this destructive agenda or take a more free-market approach that will result in affordable, reliable energy for every American.
“The contrast between the two candidates’ energy platforms could not be greater. Donald Trump’s message is one of optimism, prosperity, and abundance where the needs of consumers and workers are put first. Hillary Clinton’s message is one of political favors and cronyism that puts the agenda of her favored special interests above all else.
“Donald Trump has put forth a plan that would move our country forward by opening up more federal lands and waters for energy exploration of all kinds, utilizing cutting-edge technologies to tap into our vast resources, unwinding the Obama administration’s harmful regulations, and subjecting the Paris Agreement to the scrutiny it deserves. These policies will usher in an era of prosperity that will strengthen our economy, put more money in the pockets of American families, and lift many struggling Americans out of poverty. It will make America more secure and more Americans better off.
“Hillary Clinton offers the American people a plan that would move our country backwards—hurting all American families, but especially the poorest among us. At the bidding of special interest groups, Secretary Clinton has promised to ban production of natural gas, coal, and oil on federal lands, discourage the use of innovative technologies, and vigorously implement the Obama administration’s destructive regulations and the Paris Agreement that extends UN control over American citizens.
“Donald Trump and Hillary Clinton offer two very distinct paths for the future of our country. Where Donald Trump promises prosperity and growth, Hillary Clinton promises a third term of President Obama’s regressive climate agenda. The stakes are far too high to sit on the sidelines, which is why AEA is pleased to endorse Donald Trump for President.”
Jennifer Rubin, ultra-conservative Washington Post columnist in a column titled, “Policy frauds peddling Trump’s snake oil”:
“This is the great unfolding tragedy of Trump. Once-respected figures on the right sacrifice intellectual credibility to shill for someone with no interest in policy and entirely devoid of the skills and temperament to be president. The number of people willing to jump on the Trump train wreck for the sake of careers, fame and wealth is as breathtaking as it is stupid (Trump’s not getting elected, folks) in a party in which the past dozen years have been spent fighting over who is more politically pure. I guess the real answer is the ones least committed to conservatism are the ones advocating the loudest for Trump.”
And on the other side we have die heart Democrats shilling for lying crooked HiLIARy and the Clinton Foundation.
“Mr. Trump, you must stand with African-Americans and we must stand with you,” said Katrina Rodgers, the church’s executive secretary and the pastor’s daughter, pointing out that Republican President Abraham Lincoln emancipated slaves in 1863. Rodgers also said Martin Luther King Jr. was a Republican – which PolitiFact says is untrue, reporting he was most likely independent.
Rodgers said Democrats made African-Americans reliant on government handouts, which led to moral decay.
Pastor Thomas Rodgers, her father, said the blame is with the black community allowing it to happen, calling his fellow African-Americans an “ignorant people.”
“We are no longer drinking the Democrat Kool-Aid,” Mark Burns, pastor of Harvest Praise and Worship Center, said at Sunday’s event. Burns recently spoke at the Republican National Convention.
The sentiment shared among the speakers was that the Republican route would help the African-American community be self-sufficient again. Burns said blacks were worse off than before President Barack Obama took office.
Rodgers said her church would like to meet with Trump to discuss an economic plan that would link black-owned businesses in the United States and across Africa in hope of bringing jobs to all black communities.
Read more here: http://www.charlotteobserver.com/news/local/article94274037.html#storylink=cpy
Deregulation does NOTHING! It only eliminates competition thereby creating monopolies and increase of prices. Don’t be fooled. Trump is only looking out for his rich businesspeople. He doesn’t care about the middle class.
Ahhh, the invisible hand, huh? We should be far more introspective and dubious of theses themes, even coming from the eloquent Mr. Smith.
Adam Smith suggested the invisible hand in an otherwise obscure passage in his Inquiry Into the Nature and Causes of the Wealth of Nations in 1776. He mentioned it only once in the book, while he repeatedly noted situations where “natural liberty” does not work. Let banks charge much more than 5% interest, and they will lend to “prodigals and projectors,” precipitating bubbles and crashes. Let “people of the same trade” meet, and their conversation turns to “some contrivance to raise prices.” Let market competition continue to drive the division of labor, and it produces workers as “stupid and ignorant as it is possible for a human creature to become.”
The powerful invisible-hand metaphor refused to die. Most recently, it assured German Chancellor Angela Merkel, even if she grew up in East Germany under Communism, that slashing fiscal budgets and deregulating labor markets would end the euro crisis. Based on thinking influenced by some invisible-hand fetish, European authorities have again and again been a day late and a euro short in responding to market gales. As a result, they made the euro crisis far worse than it had to be. HBR
Beware….
SA wassup?
-The ability of policymakers to stimulate economic growth is dwindling rapidly, and both central banks and governments around the world are running out of options, according to new research from analysts at Barclays.
In Barclays’ Global Economics Weekly note, subtitled “Diminishing policy power,” analyst Christian Keller argues that the ability of central banks or governments to fix things through fiscal or monetary stimulus if the world faces an “adverse shock” to its economy is “increasingly exhausted.”
Since the financial crisis, central banks around the world have embarked on unprecedented levels of loose monetary policy, cutting interest rates and launching huge packages of quantitative easing to try to facilitate inflation and economic growth.
The level of easing is such that, as Bank of America Merrill Lynch noted on Friday, central banks have now cut interest rates 666 times since the collapse of Lehman Brothers in 2008. The Bank of England’s cut to 0.25% from 0.5% on Thursday is the latest.
All of this policy action hasn’t stimulated anywhere near as much activity as expected. Growth around the world remains subdued, with the eurozone — where interest rates are below zero and bond-buying programmes have been enormous — particularly weak. The problem, Barclays says, is that there is not much more the likes of the European Central Bank can do to boost the economy.
Breaking News– 50 very senior Republican security officials come out against Trump in a signed published letter:
Fifty of the nation’s most senior Republican national security officials, many of them former top aides or cabinet members for President George W. Bush, have signed a letter declaring that Donald J. Trump “lacks the character, values and experience” to be president and “would put at risk our country’s national security and well-being.”
Mr. Trump, the officials warn, “would be the most reckless president in American history.”
The letter says Mr. Trump would weaken the United States’ moral authority and questions his knowledge of and belief in the Constitution. It says he has “demonstrated repeatedly that he has little understanding” of the nation’s “vital national interests, its complex diplomatic challenges, its indispensable alliances and the democratic values” on which American policy should be based. And it laments that “Mr. Trump has shown no interest in educating himself.”
“None of us will vote for Donald Trump,” the letter states, though it notes later that many Americans “have doubts about Hillary Clinton, as do many of us.”
Among the most prominent signatories are Michael V. Hayden, a former director of both the C.I.A. and the National Security Agency; John D. Negroponte, who served as the first director of national intelligence and then deputy secretary of state; and Robert B. Zoellick, another former deputy secretary of state, United States trade representive and, until 2012, president of the World Bank. Two former secretaries of homeland security, Tom Ridge and Michael Chertoff, also signed, as did Eric S. Edelman, who served as Vice President Dick Cheney’s national security adviser and as a top aide to Robert M. Gates when he was secretary of defense.
Document: A Letter From G.O.P. National Security Officials Opposing Donald Trump
Robert Blackwill and James Jeffrey, two key strategists in Mr. Bush’s National Security Council, and William H. Taft IV, a former deputy secretary of defense and ambassador to NATO, also signed.
The letter underscores the continuing rupture in the Republican Party, but particularly within its national security establishment. Many of those signing it had declined to add their names to a similar open letter released in March. But a number said in recent interviews that they changed their minds once they heard Mr. Trump invite Russia to hack into Mrs. Clinton’s email server — a sarcastic remark, he said later — and say that he would check to see how much NATO members contributed to the alliance before sending forces to help stave off a Russian attack.
Yet the signatories are unlikely to impress Mr. Trump or the largely lesser-known foreign policy team he has assembled around him: He has said throughout his campaign that he intends to upend Republican foreign policy orthodoxy on everything from trade to Russia. And many of the aides who signed the letter were active in developing the plan to invade Iraq or managing its aftermath, which Mr. Trump has described as a “disaster.”
So, tell me again, Les, Kuro, Sarge, Romin, Keoni, Thos, Winston et al….how is he the “security president?????”
Chirp chirp….crickets again!
SA-wassup?
NY Times reports: “Fifty of the nation’s most senior Republican national security officials, many of them former top aides or cabinet members for President George W. Bush, have signed a letter declaring that Donald J. Trump “lacks the character, values and experience” to be president and “would put at risk our country’s national security and well-being.””
50 top Republican national security experts sign a letter stating “Donald Trump is not qualified to be President and Commander-in-Chief. Indeed, we are convinced that he would be a dangerous President and would put at risk our country’s national security and well-being.”
See the full letter at:
http://www.nytimes.com/interactive/2016/08/08/us/politics/national-security-letter-trump.html
More from the GOP letter:
“Most fundamentally, Mr. Trump lacks the character, values, and experience to be President. He weakens U.S. moral authority as the leader of the free world. He appears to lack basic knowledge about and belief in the U.S. Constitution, U.S. laws, and U.S. institutions, including religious tolerance, freedom of the press, and an independent judiciary.”
Blah, blah, blah “Make America Great Again” Trump 2016
Most of his campaign is blah blah blah as he neither the capacity nor the inclination to become familiar with the granular aspects of the necessary public policy.
Washington, DC) – A soon-to-be-released book by New York Times bestselling author Judicial Watch President Tom Fitton warns that America may now be facing the greatest voter fraud danger in recent history. And it lays the blame for the crisis directly at the feet of President Barack Obama and his Justice Department.
The book – Clean House (to be released August 30 from Simon & Schuster/Threshold Editions) – cites examples nationwide of attempts by the Obama Justice Department to thwart efforts to clean up voter rolls, require voter ID at the polls, and prevent voter intimidation. In a chapter titled “Voter Fraud – Stealing Elections – The Danger of Voter Fraud and the Fight for Election Integrity,” Fitton describes major legal battles to protect voter integrity in Pennsylvania, Ohio, Florida, Tennessee, North Carolina, Maryland, and Indiana.
[Click here for pre-release chapter.]
The book’s explosive “Voter Fraud” chapter reveals that:
In Indiana, the Obama/Holder Justice Department opposed federally mandated efforts to clean up the voter lists – despite publically available information showing that “the number of people listed on voter registration roles in 12 Indiana counties exceeded 100 percent of the total number of residents of voting age in those counties.” – page 129
In Florida, the Justice Department filed a lawsuit in 2012 to stop the state’s efforts to comply with the National Voting Rights Act by removing “53,000 registered voters who were dead-as well as an additional 2,700 noncitizens.” – page 134
And in Pennsylvania, when the New Black Panther Party stood in a doorway of a polling place clad in black paramilitary uniforms, brandishing a nightstick, arguing with passersby, and shouting racial insults at poll watchers, “the case was abruptly curtailed and all but shut down by the newly appointed officials of the Obama administration.” – page 120
Again, you pivot and obfuscation is your tool to turn to a topic not related to the article at hand. For the courtesy of those reading this particular article, stop hijacking the thread…..
I am obligated to provide information from the dark side. Some folks just don’t know the real HiLIARy and her live in provider Willy. It’s all related.