Donald Trump has promised “big time” tax cuts, the repeal and replacement of Obamacare, a get tough policy with China, renegotiation of major trade treaties, a massive investment in the infrastructure, new wall between Mexico and the US, and a return of previously outsourced jobs, including steel and coal jobs. There are many who like these positions and will vote for Trump thinking the Donald will produce. I wonder whether they ever thought “will he/she love me in the morning”?
My guess is that Trump really doesn’t worry about keeping these promises, even if he gets elected. He will simply make up some new promises while claiming he never promised anything in the first place. But what might happen if Trump actually tries to fulfill his campaign pledges?
Were Congress to pass a “big time” tax cut, Congress would be immediately confronted with an exploding deficit. The Federal Debt would have to expand to cover the tax shortfall. Trump is a businessman and no stranger to debt and even bankruptcy would remain relaxed.
The more fiscally conservative Republicans, however, would go apoplectic.
These conservative budget hawks would demand immediate budget cuts and target entitlements along with defense spending. Defense cuts, however, would put the fear of god into other Republicans especially the neoconservative crowd. These patriots would agree to entitlement cuts but cutting defense is a non-starter for them. So much for party unity.
But what about the infrastructure and all the new jobs it would bring, or the Mexican wall and all the immigrants it would keep out, and what about the buses, trains, and federal agents necessary to deport the 11 million undocumented aliens? These might have to wait.
About this time, Ford, General Motors, GE, and dozens of other companies will announce they are unable to bring back outsourced jobs for competitive reasons, even if President Trump does cut their corporate income tax. And by the way, in order to remain competitive, more jobs might be teed up to go overseas… for competitive reasons.
Oh, and repealing Obamacare will bring with it some significant political damage when most Americans find out that their insurance costs are not going to decrease. (Do you remember the US healthcare delivery program before Obamacare? The previous program experienced annual increases two or more times the rate of inflation. So why should we expect cost to suddenly decrease?)
Insurance companies will say “no, thank you” to picking up the extra cost for “pre-existing conditions” and “no limits on total payouts”. Insurance companies will balk at covering dependents under 26 years of age too. And when President Trump asks States to pick up more Medicaid costs, they will not so politely say no.
And, those “low cost” policies sold across State borders, we’ve heard so much about, will come more into focus. They will protect the insured for just what they are written to do and no more. These bargain policies will come with huge deductibles and co-pays or very narrow coverage, or both. Those wanting broader coverage will need to get the check book out again.
By this time, Trump will realize it was so much easier running for office than actual being President. Who will he blame then?