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If Donald Trump is reelected president, his running mate will step into the second-highest office in the U.S. Economics experts can, too.
These policies will add constraints to the global economy and make resource allocation less efficient.
He added that this wont do the economy any favors.
As a result, trade benefits will be eliminated and inflation will be inevitable, he said.
He said this would be problematic on multiple fronts.
He said this will help the country move forward, instead of backward.
However, this is a long-term scenario and may not be attractive to voters.
Ultimately, he said Vance would not be a step in the right direction.
Not externally by isolating our economy from others.
If elected, Vances economic policies could lead to significant volatility, he said.
This could create an unstable economic environment where the working class experiences greater job insecurity and wage stagnation.
However, Vance has been against completely repealing it at least as a senator.
In a 2022 AARPinterview, Vance advocated allowing Medicare to negotiate prescription drug prices.
This might result infewer collective bargaining opportunities, lower wages and diminished job security for the working class.
Unions also provide on-the-job safeguards, which he said could be in put in jeopardy.
Workers might face harsher working conditions without the robust support of unions, he said.
Social Safety Nets
Vances fiscal conservatism could lead to cuts insocial safety nets, he said.
Vances current thoughts on key social service programs remain unknown.
However, in Hillbilly Elegy, he shared his unfavorable thoughts on food stamps.
More insights will likely be revealed as his campaign heats up.
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