Trump admires Icahn and has (seriously or not) mentioned him as a Treasury Secretary candidate.
That’s what’s scary about these remarks.
Icahn is part right. But in this article he makes it sound like we can do deficit spending forever without the trade measures that Trump will bring.
We do need to bring down the deficit. Republicans like Ryan focused on the deficit to the exclusion of all else. The real problem is that 50% of our working age population is not working. They aren’t paying taxes, they aren’t spending a lot of money into the local economy, and many of them are drawing government support. Fix that and the deficit will come down.
A fiscal stimulus if it actually went to building or repairing infrastructure wouldn’t be a bad thing. But If it goes to bundlers or to start recurring government expenditures like Obama’s stimulus did it would be a bad thing.
But changing the trade dynamics and bringing back our industries is critical.