What Trump’s plan for America’s economy looks like, according to a Trump adviser
It’s a tough sell.
A $1 trillion infrastructure bill is the latest example of Trump’s inability to bring his proposals to the floor.
But it’s not the only problem.
A few weeks ago, he proposed a plan that would create a new, separate federal agency for infrastructure development, which is a far cry from the Trump infrastructure program he’s championed during the campaign.
It’s hard to imagine that this plan will ever come to fruition, though.
Trump’s proposal also includes a plan to increase the number of federal workers from 5 million to 12 million, a policy that seems to have little to do with the president’s economic plan.
And a recent report by the nonpartisan Congressional Budget Office estimated that the plan would create $2.6 trillion in new federal debt over the next decade.
And if Congress is serious about building the roads, bridges, tunnels, airports and other essential infrastructure that the American people so desperately need, then it should not let the president create yet another agency with so little substance and no funding to actually fund it.
“It is hard to believe that the Trump administration would not have had to start from scratch with a new agency to carry out its infrastructure plan, which would be the first time in its history that the federal government has created a separate, standalone agency for the purpose of building the country’s infrastructure,” said Peter Orszag, a former White House budget director under President Barack Obama.
“The president himself has said it would be a ‘gimmick’ to create a separate agency, but if you look at what the infrastructure bill actually did, it actually added $1.6 billion in new spending.
That’s the real deal.
This bill, in its current form, is just a gimmick.”
Trump’s new agency, called the Federal Infrastructure Council, is expected to include infrastructure experts from across the federal bureaucracy.
The group will also be tasked with finding ways to pay for the president to carry through on his campaign promise to spend $1 billion on infrastructure.
“What’s interesting about this new federal agency is that it seems to be part of a larger strategy to put an infrastructure agenda on steroids,” said Mark Zandi, chief economist at Moody’s Analytics.
“I don’t think that’s a very good idea.”
Zandi says it’s a risky strategy because the president wants to make sure that he can show his supporters that his infrastructure plan is the most efficient and effective way to build the country.
“A lot of his rhetoric is that he wants to do a great job on infrastructure, but he doesn’t want to have to spend money to do it, so it’s difficult to see how you could really deliver the kind of infrastructure he wants,” Zandi said.
“He’s going to have the infrastructure and he’s going have to borrow money from Congress, so this new agency is going to be doing more than just getting the money.”
Trump also wants to bring a new set of federal employees to Washington, D.C. The new federal employees would be called the President’s “Agencies of Infrastructure and Transportation,” a move that Zandi calls “a very clever marketing scheme.”
Zadi said the plan also has one other problem: the plan doesn’t provide any funding for it.
The Trump administration has not provided any specific funding for the President to carry his infrastructure program forward, and Zandi believes that’s because the Trump plan is so unrealistic.
“We are already seeing evidence that it’s really not going to work,” Zadi told Fox News.
“They are going to put it on the back burner.
They’re not going back to the drawing board and see what could be done.”
Trump is set to announce his budget on Wednesday.
In his plan, Trump promises to spend a whopping $1,400 billion on new projects.
That figure would come from his budget request for the next fiscal year, which ends on Sept. 30.
But the president is not alone.
A recent report from the Congressional Budget Institute estimated that if Trump’s budget is implemented, it would cost the U.S. economy $3.4 trillion over the course of 2026, about twice the $1 Trillion cost of Trump Tower’s renovation.
And the report also found that if Congress continues to slash spending on infrastructure programs, the U tol is projected to lose an additional $1 to $1 per person.
And that means a lot of jobs for Americans will likely disappear.
“As we’ve seen time and time again in the last two years, it’s hard for Americans to see their wages going up, their wages go down, their benefits go down if we don’t put money in place to help them with their wages,” Zensen said.