Summary
Donald Trump’s allies, including Elon Musk and John Paulson, are advocating sudden, unspecified spending cuts, likely targeting healthcare and social programs if Trump wins.
Despite strong economic performance under Biden, Trump’s agenda could double the national debt, raising taxes for most Americans while benefitting the wealthy. His policies may cut essential programs, lowering living standards in the short term.
Trump’s campaign has been a bait-and-switch, promising economic restoration while hiding the dire consequences of his proposals.
It’s the private equity playbook. Sell all the real capital assets to cover existing debt, rent replacement assets from the owners themselves using new debt, run operations so lean that you burn out 100% of your labor force, then declare bankruptcy and settle your own debt while keeping all the assets.
It has already destroyed swaths of the private sector, and now they wanna do it to the entire economy.