*We, the undersigned economists, represent a broad variety of areas of expertise and are united in our opposition to Donald Trump. We recommend that voters choose a different candidate on the following grounds:
He degrades trust in vital public institutions that collect and disseminate information
about the economy, such as the Bureau of Labor Statistics, by spreading disinformation about the integrity of their work.
He has misled voters in states like Ohio and Michigan by asserting that the renegotiation of NAFTA or the imposition of tariffs on China would substantially increase employment in manufacturing. In fact, manufacturing’s share of employment has been declining since
the 1970s and is mostly related to automation, not trade.
He claims to champion former manufacturing workers, but has no plan to assist their
transition to well-compensated service sector positions. Instead, he has diverted the
policy discussion to options that ignore both the reality of technological progress and the benefits of international trade.
He has misled the public by asserting that U.S. manufacturing has declined. The location
and product composition of manufacturing has changed, but the level of output has more
than doubled in the U.S. since the 1980s.
He has falsely suggested that trade is zero-sum and that the “toughness” of negotiators
primarily drives trade deficits.
He has misled the public with false statements about trade agreements eroding national
income and wealth. Although the gains have not been equally distributed—and this is an
important discussion in itself—both mean income and mean wealth
have risen substantially in the U.S. since the 1980s.
He has lowered the seriousness of the national dialogue by suggesting that the
elimination of the Environmental Protection Agency or the Department of Education
would significantly reduce the fiscal deficit. A credible solution will require an increase
in tax revenue and/or a reduction in spending on Social Security, Medicare, Medicaid, or
Defense.
He claims he will eliminate the fiscal deficit, but has proposed a plan that would decrease
tax revenue by $2.6 to $5.9 trillion over the next decade according to the non-partisan
Tax Foundation.
He claims that he will reduce the trade deficit, but has proposed a reduction in public
saving that is likely to increase it......"
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The reputation of the USA in the world (cont)
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