Trump Won. Let's Get On With It!

Bloomberg: A whopping?$20 billion ?flowed into US equity funds on the day Trump claimed victory, the most in five months. Small caps—which are seen benefiting from Trump’s tariff threats—attracted the biggest inflow since March, though economists fear those tariffs, if enacted, could boomerang on the US economy to the tune of hundreds of billions of dollars .

Michael Bloomberg:? Trump won, now let’s get on with it.

Take inflation, a top concern for most voters. Trump’s plans for comprehensive tariffs, regressive tax cuts, a devalued dollar and a newly politicized Federal Reserve seem tailor-made to push prices up, just when the Fed has largely succeeded in getting them under control. Enacting any element of this agenda would be irresponsible, not least because it would worsen the country’s spiraling fiscal problems, to the tune of perhaps $15 trillion in additional debt over a decade.

The Border

Michael Bloomberg: On immigration, too, Trump’s proposals are hugely misguided. It’s true that the current administration has made a hash of things at the border. But the mass-deportation effort Trump has theorized would be (in addition to cruel) prohibitively costly, while also impeding economic growth and doing little to fix the underlying problem. Legislators should instead revive a bipartisan reform effort, focused on popular policies such as easing the path to citizenship for foreign graduates of US colleges combined with more restrictive enforcement measures. They should also push Trump to focus on the quasi-effective policies from his last term, such as the Migrant Protection Protocols, and avoid needlessly inflammatory rhetoric.

Begin the Non-Violent Opposition

Continued

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