A lot of people seem to have various opinions concerning Trump’s economic, tax and immigration policies. Are they wrong or right? We all should however keep in mind the fact that America is not ready or willing to go back into the pit of economic recession from which it has risen.
The latest however is Oxford Economics, a British forecasting firm with offices in the U.S. saying if Trump becomes President he would cost the U.S. $1 trillion over the next five years.
Trump’s policies if implemented would cost 4 million U.S. jobs, weigh down global growth and U.S. consumer spending, and could lead to a trade war with other nations.
Jamie Thompson, head of macro scenarios at Oxford Economics, said, “combining these policies together, the impact could be significantly negative for the U.S. economy.”
Oxford’s figures are in line with the analysis of the University of Pennsylvania’s Wharton Budget Model which forecasts Trump’s immigration policy costing 4 million jobs and Moody’s economist Mark Zandi also forecasts a similar job loss under Trump.
This could mean bad news for Trump as the analysis came ahead of his speech to clarify issues on his economic policies. He will be giving the speech on Thursday at the Economic Club of New York.
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