The Glenn Show
Ross Levine – Trump's $150 Trillion Question
May 9, 2025
In this discussion, Ross Levine, a Senior Fellow at the Hoover Institution, critiques Trump's economic policies as alarmingly detrimental. He explores the complexities of tariffs and national debt, warning that alienating allies could strengthen China. Levine also questions whether Congress can effectively rein in Trump's approach to financial regulation and argues that the fallout from globalization is reshaping economic landscapes. Their insights highlight the urgent need for coherent policies amid rising market unpredictability.
57:34
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Quick takeaways
- The current administration's economic policies, including aggressive tariffs, risk long-term U.S. growth and create market volatility for investors.
- Congress has the potential to limit presidential control over tariffs and protect Federal Reserve independence, but political gridlock hampers meaningful action.
Deep dives
Concerns Over Recent Economic Policies
The impact of the current administration's economic policies raises significant concerns among economists. A shift towards aggressive tariffs and a less open market could disrupt the long-term trend of stable U.S. economic growth, which has historically averaged around 2% per year in real per capita GDP since the Civil War. The uncertainty generated by such policies not only risks lower growth rates but also instills a 'moron premium' in the markets, whereby investors demand higher returns to compensate for increased volatility. This environment leads to a decline in stock prices and higher interest rates, hindering investment and overall economic stability.
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