Republican presidential nominee Donald Trump holds a rally with supporters at the Suburban Collection Showplace in Novi, Michigan, U.S. September 30, 2016. REUTERS/Jonathan Ernst
Reuters: German government believes Trump would ravage U.S. economy: Spiegel
Germany's economy ministry believes a Donald Trump presidency would severely damage the U.S. economy, according to an internal memorandum reported by Der Spiegel magazine on Saturday.
The ministry expects "shrinking gross domestic product, fewer jobs and higher unemployment," in the United States if the Republican candidate were to implement his campaign pledges, the magazine cited the memo as saying.
Trump, a billionaire businessman seeking his first public office, has proposed tax cuts worth $4.4 trillion and wants to curb government regulation and take a tougher stance on negotiating trade deals.
He says his economic plan would produce annual economic growth of 3.5 percent and create 25 million jobs over a decade. But some economists have questioned the assumptions underpinning the plan.
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WNU Editor: Let's see now .... $20 trillion in debt, trillions of dollars through quantitative easing that will need to be accommodated, unfunded liabilities in the tens of trillions and that are not sustainable in the medium term, a stagnant economy, 100 million Americans not in the labour force .... and Donald Trump will ravage the U.S. economy and is the problem?!?!?!
