Krugman: Count on Trump's plans bringing back inflation surge

[Yo_Mama_Been_Loggin]

By Paul Krugman / The New York Times

For the past few years, over and over, voters have told pollsters and pundits that they’re hopping mad about inflation. Well, we just elected a president who, if he follows through on two of his central campaign promises — across-the-board tariffs and mass deportation of immigrants lacking permanent legal status — will probably cause soaring inflation.

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I’ve written about the likely inflationary impact of Donald Trump’s policies. All of that still stands. But there’s an issue that I haven’t stressed as much as I probably should have: the specific effects of his proposed deportations on grocery and housing prices, both of which have been political flashpoints.

First, a word about deficits to set the stage: The nonpartisan Committee for a Responsible Federal Budget estimates that Trump’s tax plans would add almost $8 trillion to the debt over the next decade.

Trump has claimed that he can make up for tax cuts with revenue from tariffs and huge cuts in government spending, but those claims are wildly unrealistic.

https://www.heraldnet.com/opinion/krugman-count-on-trumps-plans-bringing-back-inflation-surge/