Class inequality and an unstable economy: a black legacy Trump leaves Americans

Damascus-Sana

The negative consequences of President Donald Trump's political and economic policies are beginning to have a clear impact on American society, with dozens of American companies reporting bankruptcy over the past two years and an unprecedented widening inequality gap. According to new economic data.

Data released this week in a report of the Gini index used to measure the gap in income distribution in the world and published by the American NPR website showed that the rate of inequality in US income rose from 0.448 percent in 2017 to 0.448 percent last year, a significant increase according to the criteria adopted by the index.

The increase in the index, though indicative of anything, clearly reveals the widening class disparity in the United States due to the failed policies pursued by Trump since he arrived at the White House in 2017 and focused mainly on achieving his personal goals and expanding his wealth first, he continued to enact legislation and pass laws to achieve His interests and those of big corporations and lobby lobbies are behind him without paying attention to the effects on the Americans.

Implications and consequences of US policies under Trump have taken a catastrophic turn at the international level because of the escalation in international crises, whether political or economic, especially in the Middle East, and it has undermined the close ties that the United States historically ties with Europe through a series of reckless decisions, including his withdrawal from agreements An important international is the nuclear agreement with Iran, the trans-Pacific partnership, and the Paris climate agreement and the small and medium-sized missile treaty with Russia.

Domestically, his policies have strained Americans with tax laws that directly benefit large corporations. Signs of a US economic recession have increased after the US public debt exceeded the $ 22 trillion threshold amid warnings that it would lead to higher consumer interest rates. And companies.

The impact of the unstable economic situation in the United States is evident on the US companies, many of which entered the stage of bankruptcy, especially in the wake of Trump's trade war with China, which led to US experts to slow down the US economy and impede its growth and the suspension of capital investment.

The fallout from Trump's trade wars, whether with China or Europe, has emerged globally in declining trade indicators, financial markets and its unstable movement. Internally, pressure has mounted on Americans paying the price of Trump's reckless actions.

A study conducted by experts at the Federal Reserve Bank of New York and Princeton and Columbia Universities confirmed that the US economy and consumers are the biggest losers due to the economic war waged by the US administration with China and its main trading partners.

The results of the study contradict Trump's claims about the damages and the impact of these fees on the US economy, but the living reality of Americans and class disparities between them prove the falsehood of these claims.

The suffering of Americans because of Trump's policies is no longer confined to the context of international diplomatic crises, but also to more severe economic and social suffering as Trump's racist approach increased the rate of hatred and racist crimes in American society, and the use of his position for personal gains threatens the US economy. His entire successive scandals, including foreign assistance to intervene in the upcoming US presidential election in his favor and manipulate his tax statements, are all added to the black legacy he will leave for Americans.

Bassima Kenoun

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