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Hillary Clinton warns of a Trump recession on US economy
Democrat Hillary Clinton said on Tuesday that if Republican rival Donald Trump wins the White House, it will be a disaster for the US economy, warning that the “the king of debt” would cause a “Trump recession.”
Washington: Democrat Hillary Clinton said on Tuesday that if Republican rival Donald Trump wins the White House, it will be a disaster for the US economy, warning that the “the king of debt” would cause a “Trump recession.”
“Now I don’t say this because of typical political disagreements – liberals and conservatives say Trump’s ideas would be disastrous,” Clinton said. “Economists on the right, the left and the center all agree Trump would throw us back into recession.”
Clinton’s speech in Columbus, Ohio, was the second in which she has argued the wealthy businessman is “temperamentally unfit” to lead the country. The first was on foreign relations and national security.
She said Trump’s tax plan would benefit the rich over working families, that his promise to toss out trade deals would lead to trade wars, and criticized his business credentials.
“Donald Trump has said he is qualified to be president because of his business record,” Clinton said.
“So let’s take a look at what he did for his businesses: He’s written a lot of books about business. They all seem to end at Chapter 11; go figure,” Clinton said, in a jab referring to Chapter 11 of the US Bankruptcy Code.
Clinton then said Trump, a self-described “king of debt,” had allowed businesses to amass huge debts and declare bankruptcy, leaving hundreds of people without jobs and wiping out shareholders.
Allowing the United States to accrue similar debt would rattle investors and could lead to economic catastrophe, she added.
On Twitter during Clinton’s speech, Trump said, “I am ‘the king of debt.’ That has been great for me as a businessman, but is bad for the country. I made a fortune off of debt, will fix US.”
The tussle over the economy comes as the pair gears up for what is expected to be a fierce battle for the presidency ahead of the Nov. 8 election.
Trump is set to deliver a speech on Wednesday in New York criticizing Clinton.
As the presumptive Democratic nominee spoke, Trump’s campaign tested what appeared to be a more active rapid-response operation, sending emails saying Clinton’s husband, former President Bill Clinton, had backed bad trade deals and that her immigration plan would lower wages.
Clinton said Trump’s plan to build a wall along the US-Mexico border and deport undocumented immigrants would shake the workforce and prove disastrous for the US economy, creating a Trump recession.
