Will Donald Trump's Tax Plan Sink the United States?

If Donald Trump assumes the Presidency his proposed tax plan will create a national debt load that will dwarf his tallest tower. 'Trump's proposed tax plan would greatly increase the deficit, as well as the debt by $9.5 trillion over 10 years,' said Luke Tilley, chief economist at Wilmington Trust. 'It's highly unlikely, bordering on impossible, that economic growth would be sufficient to overcome those deficits.' On the other hand, Clinton's proposals raise revenue and would help long term deficits. Nevertheless, that's before considering the dynamic impacts and possible slowdowns in growth. 'Hillary's tax proposals would raise about $1 trillion in revenue over 10 years, but that's before taking into account the possible loss of growth,' said Tilley. Tilley adds that it is almost needless to say that 'either plan faces a very tough road in an evenly divided Senate.' As a result, Tilley is maintaining a pessimistic long-term, 10-year view of U.S. economic performance because of the daunting federal debt projections and the unwillingness of Congress to address it. They are both pessimistic on trade deals. In Tilley's view, pulling back from the world and becoming more protectionist is unambiguously negative for the long-term health of the economy.