The biggest names in investing say the Trump administration is ‘totally out of control’
Investors and the mainstream media are united in criticizing President Donald Trump and his administration.
A new report out Monday from the investment firm BlackRock, however, shows a different picture of what the Trump era will look like.
The report by BlackRock said the U.S. government is “totally in control of the economy and the people of the United States.”
The report, titled “Trump’s Presidency and the Economy,” says the president is “setting up a system that will ultimately be more destructive than anything that has happened since the Great Depression.”
Trump has proposed cutting taxes and spending and has said he will renegotiate trade deals that benefit the U:Trump’s economic advisers have been pushing for a massive tax cut for the rich, and some Republicans have called for an increase in the minimum wage.
The tax plan would cut taxes for individuals at the top, but leave some tax loopholes and deductions untouched.
Trump has also said that he would not cut Social Security and Medicare benefits, but would make those cuts permanent.
The administration has said that its economic plans are meant to stimulate the economy, and the report argues that the administration is “in the business of getting the economy back on track, with more than 100 days left in the year, and without major structural changes.”