The Trump plan would also eliminate “trade deficit drag.” Net exports are currently running at a negative $500 billion annually, a direct subtraction from growth. He would also negotiate new deals and renegotiate bad deals, such as NAFTA, according to the Trump trade doctrine: Any deal must increase growth, reduce the trade deficit and strengthen the manufacturing base. Instead, we have lost 75,000 jobs, and our Korean trade deficit has nearly doubled. As our economy grows faster and millions of Americans go back to work, tax revenue would rise, safety net payments would fall and the Trump plan would travel along a fiscally responsible path that achieves revenue neutrality. Such defeatism defies the American spirit and ignores the bad tax, trade, regulatory and energy policies now shackling the U.S. economy.

Source: Washington Post September 23, 2016 16:02 UTC