Voodoo Economics, Trump Style

Maybe forever the Republican Party has billed itself as the party of conservative fiscal policy. They always claim to opposed to government’s size and what government spends. Less government, less taxes is their age-old mantra.

My Voodoo Priestess tells me these bones say we don’t need a new jet fighter plane or another new aircraft carrier.

At least in recent decades they have had a hard time keeping true with these basics. The Reagan administration tried to outspend the Soviet Union and ran up a huge deficit. George W. Bush spent money like an undisciplined teenager with his own credit card. And Donald Trump may think he behaving in a conservative fashion but the reality is much different.

I’ve said this many times and it’s true, you can’t cut taxes and spend lots of money and end up not deeper in debt. George W. Bush couldn’t have a major tax cut for the wealthiest and then create Part D of Medicare, deal with the nation’s needs during both 9/11 and Katrina, go to war in Afghanistan followed by Iraq. and deal with the collapse of the housing, banking, and automobile industries and avoid adding a ton of borrowed money to the national debt.

In today’s America it seems like Donald Trump is taking us in the same direction. Here’s my list of Trump proposals that will put us right back where we were when Obama took office in 2009. Trump proposes to:

  • Cut taxes, mostly for the wealthy. He is a trickle down person in spite of there not being one ounce of evidence that the rich’s money ever trickles down. Supply side economics has been proven to be a bogus economic theory yet the typical American continues to believe they’re going go get a share of the rich man’s money. One simple but major point about cutting taxes is that the government is going to have less money to spend on other things
  • With less revenue Trump wants to deport millions of illegal immigrants. It is estimated that they typical cost of deporting a person is $8,500. You do the math.
  • Trump wants to hire 15,000 new Border Patrol and ICE agents to round-up immigrants for deportation. Again, you do the math.
  • The estimated cost of Trump’s wall was around $12 billion, it has now grown to $25 billion and many think the final cost will be closer to $50 billion.
  • Industrial leaders say the deportation of needed immigrant labor will cost the economy billions in lost productivity.
  • The economy will also suffer by the bans on travel. People who come to the US for whatever reason bring money with them. Foreign students, for example, bring tens of thousands with them for tuition, books, and board. Ever been to Disney World around Christmas and notice all the different languages heard? Well, those people are on vacation from all over the world and they are going to collectively spend millions in Central Florida or Southern California.
  • The GOP and Trump are learning that the American people really do like the ACA (Obamacare). They want health care, they want no restrictions on pre-existing conditions, they want no lifetime limits, they want their kids covered until age 26. Trump has said he wants these things too. Well these things aren’t cheap. The GOP congress is going to have to spend a fortune to meet what the people say they want.
  • Both Trump and the Democrats want to spend a fortune on rebuilding the infrastructure and honestly, it’s something that just has to be done. The question is, what will it cost and where will the money come from.
  • Trump has convinced the people who our military is pretty much made up of a bunch of weapons akin to rusty old Model Ts running around our military Trump says, “I’m going to make our military so big, so powerful, so strong, that nobody — absolutely nobody — is gonna mess with us,” The cost of this could be as high as half a trillion dollars.

I don’t know what else needs included but these are certainly the major elements of the insanity of what’s planned. Everyone likes to talk about common sense so how is it common sense to take a job that pays you less money and then go out and buy a new car, bass boat, and motor home on credit. That’s exactly how governments work if they spend more than they take in. Just like you they have to borrow money.

Or, they could turn on the printing presses and print more money. But this results in inflation and the devaluing of the dollar bill. A major part of the solution to increase taxes on those who can afford to pay much more than they are and to not cut taxes on the rest of us.

Back in 1980s George H.W. Bush referred to Ronald Reagan’s supply side economic plan as “voodoo economics.” He said it wouldn’t work but once he became Reagan’s VP he had to zip his lip. But he was right, just as a pin in a voodoo doll won’t cause someone to wince, money doesn’t trickle down. Democrats are thought to be the party of big government spending but recent history has proven the opposite. The GOP is the budget buster but they become expert at covering it all up with, incense, mirrors, and sleight of hand. The stuff of Voodoo.

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