At long last, after a hard-fought and often contentious general election campaign, Donald Trump has been elected the next president of the United States of America.
Much loyal support and dedication from both independent and conservative voters helped put the business magnate over the top and allowed him to defeat stubborn and unpopular Democrat Hillary Clinton, despite Clinton’s overwhelming advantage in terms of campaign budgets, experienced political operatives, deep-pocketed billionaire donors and tremendous collusion from the major media networks.
At many points throughout the campaign season, the press seemed to be 100 percent in favor of Clinton as story after story attacked Trump’s character, his personality and his appearance while coincidentally leaving out any discussion of the economy, trade, jobs or health care.
As voters grew more and more frustrated with both the media and Clinton, it became apparent that these campaign issues — and specifically, Trump’s stances on them versus Hillary’s — allowed him to beat Clinton at the polls, despite overwhelming predictions that she would be the clear winner of the contest.
Now that Trump has claimed victory, voters can expect him to enact the plans and policies he championed on the campaign trail as GOP nominee, including:
1. Repealing Obamacare
Barack Obama’s signature legislation has become a perfect example of how not to have the government take charge of what had previously been an imperfect-but-functional private system. The government helped drive costs through the roof while making it nearly impossible for average Americans to afford, never mind utilize, the program.
Confusion about plans, insurers, costs and contributions kept many people from signing up immediately, and the enrollees who did sign up were disproportionately the ones who needed the most care. For many healthy citizens, costs are well beyond what they were prior to Obamacare, and there’s no end in sight to the massive annual price increases.
Some people will see their premiums nearly double in 2017 from what they were in 2016. It’s now clear that Obamacare is an utter failure, and President Trump will present alternatives to do what Obamacare can’t and force insurers to compete across state lines, among other reversals.
2. Killing TPP and Other So-Called “Free Trade” Agreements
As many observers have pointed out, the “free-trade agreements” that Hillary Clinton until recently supported are neither free nor are they about trade in the traditional sense. In fact, even calling them “agreements” is a stretch, as the Transpacific Partnership (TPP), the Transatlantic Trade and Investment Partnership (TTIP) and other pacts are essentially ways that private corporations can make end-runs around government regulations and sue countries if they don’t profit to the degree they desire.
Who gets shafted?
Workers in developed countries like the United States as other nations “race to the bottom” in terms of labor costs and looser regulations, kicking off a competition to see which among them can have the lowest pay and the worst labor practices. Donald Trump will put an end to TPP, TTIP and any other similar agreements to protect American jobs and businesses.
3. Balancing the U.S. Trade Deficit
As Trump never tired of saying during his campaign, America doesn’t win anymore with trade. Well, perhaps that’s now about to change as new protectionist policies may be enacted that will do the opposite of the free-trade agreements outlined above.
Countries such as Mexico, China and Japan will learn that there’s a new marshal in town when it comes to trying to negotiate lopsided trade quotas and other advantages in their favor. American businesses will find that domestic markets will be more protected from cut-rate imports that previously harmed profits and hurt jobs.
As a result, incomes will rise, spending will rise, and tax revenues for the government will increase. This will be great news for almost everyone — everyone who’s not a globalist billionaire, that is.
4. Reducing Government Spending
Overseas military commitments and conflicts have sucked trillions out of the nation’s economy in the last 20 years. Foreign adventures in Syria, Iraq, Afghanistan, Pakistan, Libya, Yemen, Somalia and other places have drained the nation’s savings and hugely driven up its debt.
By pulling out of these conflicts and letting other nations resolve their own problems, America can save hundreds of billions of dollars — money that can be used toward rebuilding our crumbling infrastructure.
5. Lowering Taxes for the Middle Class
For millions of Americans, even a small tax cut would be a welcome relief as median household income is still at or below 2007 levels, adjusted for inflation. Trump has promised tax cuts for the middle class and much easier-to-understand tax brackets that will simplify the tax code.
Fewer taxes taken out of Americans’ paychecks will mean more discretionary income and more money in middle-class earners’ pockets. This, in combination with the above steps, will help get the wheels on the U.S. economy moving again. Years of newfound prosperity await if we can get everyone on board at the same time.
These are just the top economic priorities for Donald Trump once he gets into office. Additional opportunities for the government to realize in terms of increasing consumer spending and reducing expenses will help propel the country further than it’s progressed in 10-15 years.
Watch for national debt levels to fall instead of rise, and look for lots less government waste in the coming four years. This period will almost certainly be the best time to be alive in the last three decades. Don’t miss out on your share of the growing economy; consider talking with an investment advisor and pick a good vehicle to put some of your savings into as you watch Trump and Pence shake up the country — for the better.
Regards,
Ethan Warrick
Editor
Wealth Authority
