Dear Editor,
The coming election offers voters a stark choice on economic policy. This week, in a speech to the Economic Club of New York, we learned more about what Donald Trump would do in his second term. He doubled down on regressive fiscal adventurism, promising tax cuts to those on the highest incomes and a massive hike in the effective sales tax on middle — and lower-income individuals through tariffs.
Trump’s opponents are bound to cast his policies in the worst light, so voters in Lake Country need to listen to (and act upon) objective voices.
This week, the investment bank Goldman Sachs — a serial provider of top talent to Republican and Democrat administrations—issued a report comparing the likely economic outcomes under Trump and Harris. Their conclusion was unequivocal: Trump’s policies would bring lower growth, higher inflation, and a higher budget deficit.
A few weeks ago, a former senior official at both JP Morgan and Bridgewater Associates — one of the world’s most successful asset managers—warned that Trump’s policies to politicize the Fed's decision-making could (on top of his deficit-busting fiscal promises) seriously undermine the global dominance of the U.S. Treasury market, thus raising bond yields, possibly sharply.
These are not trivial matters. They matter to everyone’s pocketbook. I would urge all voters to think through the choices ahead of them and vote in the interests of their long-run financial health, rather than for a six-time bankrupt populist.
Yours sincerely, Phil Suttle, Greensboro