Nobel Prize Winning Economists Warn Trump's Plan Would Blow Up The Economy

16 Nobel Prize winning economists from across the ideological spectrum are warning that Trump's economic plan would reignite inflation and damage the global economy.

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Nobel Prize-Winning Economists Warn About Trump’s Economic Plan

A new letter signed by Nobel Prize-winning economists Joseph Stiglitz, George A. Akerlof, Sir Angus Deaton, Claudia Goldin, Sir Oliver Hart, Eric S. Maskin, Daniel L. McFadden, Paul R. Milgrom, Roger B. Myerson, Edmund S. Phelps, Paul M. Romer, Alvin E. Roth, William F. Sharpe, Robert J. Shiller, Christopher A. Sims, and Robert B. Wilson warned about Trump’s economic plans:

While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump.

…

We believe that a second Trump term would have a negative impact on the U.S.'s economic standing in the world, and a destabilizing effect on the U.S.'s domestic economy.

Many Americans are concerned about inflation, which has come down remarkably fast. There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets.

The warning from the Nobel Prize-winning economists comes on the heels of America’s Fortune 500 CEOs announcing that none of them will be supporting Donald Trump in 2024 due to his economic plan, which they view as “extremely inflationary. The tariffs, 10 percent across the board, on all imports, that’s just crazy. It’ll lead to a 3 percent increase for sure in inflation and plunging the GDP. And then he, and that’s before retaliatory gesture is the increase in the deficit. He wants to cut 5 trillion of taxes with no commensurate cut and expenditures.”

When America’s economists and top CEOs, two groups who no one would describe as radical liberals are sounding the alarm over what Trump wants to do, it is time to take a deeper look at what his plan could mean for the American people.