Frustrated Americans await the economic changes they voted for with Trump(apnews.com)

posted 5 days ago

MicroWave@lemmy.world

politics@lemmy.world

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Summary

Americans, frustrated with high prices despite a strong economy, voted for change with Donald Trump’s election. Trump promises to reverse Biden-era policies, vowing steep tariffs, tax cuts, and mass deportations.

Economists warn his plans could worsen inflation, increase the federal deficit, and destabilize growth. The Peterson Institute predicts Trump’s tariffs could drive up costs for American consumers, while deportations could shrink GDP by $5.1 trillion.

His proposed tax cuts could add $4.1 trillion to the deficit, while economists question his willingness to address fiscal imbalances through spending cuts.

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rayyy@lemmy.world

10 points

4 days ago

social security retirement age

Retirement age will be two years after you die.

“policymakers should gradually increase the normal retirement age from 67 to 69 or 70 – moving the age up by one or two months per year…"

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