Trump’s ‘bailout’ plan: ‘The people get screwed’
President Donald Trump’s “bail out” plan to rescue the economy from the recession and its crippling effects is a giveaway to Wall Street and big banks, according to the Wall Street Journal.
“It’s a huge giveaway to the people, it’s a massive giveaway to big Wall Street,” Republican presidential candidate and former Texas governor Rick Perry said Thursday during a panel discussion hosted by The Wall Street Review.
“They’ve got their fingers all over it.”
In fact, according the Journal, Trump’s plan would hand the nation’s financial institutions the biggest bailout in history, leaving the country “virtually bankrupt.”
The plan would allow the Federal Reserve to print trillions of dollars of new money, which would be used to prop up the financial sector.
The Fed has been pushing for an increase in the nations “monetary base,” the amount of money it can print without triggering a recession.
In the end, the plan would be largely funded by taxpayer dollars.
While the plan may sound familiar, Trump has not exactly been shy about pushing his populist agenda.
The president has previously called for a national debt of “trillions” and a “national unemployment rate of 35 percent.”
He has also promised to cut taxes and roll back regulations, while claiming that the U.S. economy is “robust and healthy.”
As The Wall St. Journal reports, Perry also called the plan “the biggest giveaway to large Wall Street banks and corporations since the Great Depression.”
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