Tags: trump | election | jobs

Trump: November Election Will Be All About Jobs

Thursday, 19 July 2012 05:29 PM

Politicians who care more about creating jobs are more likely to get elected this November, said real estate mogul Donald Trump.

Republicans and Democrats have been blaming each other for the country's woes, even for mishandling an event that hasn't occurred yet — a combination of tax hikes and government spending cuts that kick in after the end of the year, a one-two punch known as a fiscal cliff that could derail recovery.

Experts say the fiscal cliff could siphon $500 billion out of the economy next year alone and send the country back into recession.

Editor's Note: Economist Warns: 50% Unemployment, 100% Inflation Possible

Lawmakers have been hesitant to touch tax and spending issues in an election year, and some have suggested they can convene early in 2013 once the economy has fallen over the so-called cliff and adjust tax hikes and spending cuts retroactively.

It would be better if they rolled up their sleeves and did so today.

"They would be so well off to get in a room right now and stop with waiting. But I don't think that's going to happen and it certainly can't happen if the president isn't doing anything about jobs," Trump told CNBC.

"Ultimately it's about unemployment, who's working and who is not," Trump added.

"With all of the fluff and other things being mentioned, it will be about jobs and the economy, how are we standing in 90 days from now."

Businesses are facing massive uncertainty tied to the fiscal cliff and also how much President Barack Obama's Patient Protection and Affordable Care Act will cost them.

Europe's debt ceiling shows no signs of ending soon, while in Asia, growth in China's once red-hot economy has been cooling.

Editor's Note: Economist Warns: 50% Unemployment, 100% Inflation Possible

Uncertainty tends to put business investments on hold, which translates into less hiring and an angrier electorate.

"I think businesses generally are very unsure. They don't know whether or not they should be investing. The Obamacare has been a total catastrophe — states aren't going along with it. They're saying 'we'll pass,'" Trump said.

Economists have pointed out that U.S politics are hampering recovery.

"While there are real issues out there, such as Europe, what seems to be the overarching factor driving business decisions is the fear of a fiscal fiasco," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland Pennsylvania, according to Reuters.

"Gridlock is no longer just a political game. It is having real economic effects. Until business leaders can plan with more certainty, there is little chance the economy can accelerate to a solid pace."

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Thursday, 19 July 2012 05:29 PM
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