VICE on HBO looks at factors that led to the 2008 financial crisis and the efforts made by then-Treasury Secretary Henry Paulson, Federal Reserve Bank of New York President Timothy Geithner, and Federal Reserve Chair Ben Bernanke to save the United States from an economic collapse. The feature-length documentary explores the challenges these men faced, as well as the consequences of their decisions.
Donald Trump’s bare-bones tax plan would cut rates — but add more than $10 trillion to the debt. His goal to trim the national debt to zero in eight years would require slashing all federal spending by two-thirds, even if he ditched the proposed tax cut. And he’s got no plans to trim Medicare or Social Security, the main drivers of spending
.. And like most Republicans, Trump has pledged to repeal the Affordable Care Act to save money, but the nonpartisan Congressional Budget Office has said doing so would increase budget deficits by $137 billion over the next decade — and, according to a Robert Wood Johnson Foundation study in June, would also cause 24 million people to lose their health insurance.
.. The main drivers of economic harm, Moody’s said, would be increased debt, higher interest rates, a contracting labor force — due to mass deportation of undocumented immigrants — and the impact of proposed tariffs on Chinese and Mexican imports.
.. “Trump repeatedly, blatantly and knowingly makes up or gravely distorts facts to support his positions or create populist divisions,” Paulson wrote in an op-ed in The Washington Post, in which he announced his intention to vote for Hillary Clinton. “Simply put, a Trump presidency is unthinkable.”
.. “The last super successful businessman elected to be president on that credential was Herbert Hoover,” said Holtz-Eakin. “Things didn’t go very well for him.”
One of the primary drivers of the campaign was an attempt to control the influx of refugees from the Middle East and Eastern Europe. And yet, the areas with the most immigrants, like London, tend to be much more in favor of remaining in the E.U., according to the center’s report.
.. The GOP, in putting Trump at the top of the ticket, is endorsing a brand of populism rooted in ignorance, prejudice, fear and isolationism. This troubles me deeply as a Republican, but it troubles me even more as an American. Enough is enough. It’s time to put country before party and say it together: Never Trump... I can’t help but wonder what would have happened if a divisive character such as Trump were president during the 2008 financial crisis, at a time when leadership, compromise and careful analysis were critical. The only reason we avoided another Great Depression was because Republicans and Democrats joined together to vote for the Troubled Asset Relief Program — a vote that they knew would be politically unpopular but in the best interest of our country... First, we need to maintain the United States’ fiscal strength by reforming entitlements. There’s no example of a nation continuing as a great power if its fiscal strength is lost. Anyone, whether Republican or Democrat, who has studied our entitlement programs and can do basic math knows they are unsustainable in their present form. If not fixed soon, they threaten our nation with a debt burden that would undermine the retirement security of young Americans and future generations. It doesn’t surprise me when a socialist such as Bernie Sanders sees no need to fix our entitlement programs. But I find it particularly appalling that Trump, a businessman, tells us he won’t touch Social Security, Medicare and Medicaid... According to thePeterson Institute for International Economics , the average American household income is roughly $10,000 higher because of the postwar expansion of trade... Instead, we need to fix the programs that help U.S. industries and workers transition to new and better jobs. We need better training, new education programs and a more robust safety net. The policies Trump endorses would destroy, not save, U.S. jobs... I will not vote for Donald Trump. I will not cast a write-in vote. I’ll be voting for Hillary Clinton, with the hope that she can bring Americans together to do the things necessary to strengthen our economy, our environment and our place in the world.