When Nobel Prize-winning economist Paul Krugman speaks, people listen – and this time, he’s got some strong words about Donald Trump’s economic plans. Krugman believes that Trump’s policies, particularly his promises on tariffs and mass deportations, might actually hurt the very people who voted for him, leaving them worse off than they are now.
In an interview with The New Republic, Krugman pointed out that Trump’s policies are likely to hit his core supporters the hardest. He’s not holding back, calling it a “scam” that will leave many voters feeling tricked. Krugman explained that while some local business elites might be backing Trump, he has a history of not paying contractors – something that’s led to more than a few people being scammed by him.
And let’s talk about Trump’s campaign promise to lower grocery prices – something he talked about all through the election. Krugman said Trump quickly backpedaled on that promise, admitting it would be a lot harder than he made it sound. And yet, his supporters are still clinging to the idea that he’ll deliver. The reality? Krugman argues there’s no real plan in place.
On top of that, Trump is inheriting a healthy economy from President Biden – with low unemployment and inflation below 3%. But Krugman warns that despite this, Trump’s policies could still damage the economy. His moves to tear up international trade rules, which were originally created to help the U.S. thrive, could backfire. And Krugman also pointed out that Trump’s hostility toward education could hinder the U.S.’s technological edge.
The bottom line? Krugman says Trump is trying to turn the clock back to a time before modern progress – and that’s not something that’s good for the economy or the country as a whole. So, while the promises may sound appealing, the reality could be a lot more damaging than we realize.
