Alabama economist weighs impact of each presidential candidate on economy

Published: Jul. 5, 2016 at 9:52 PM CDT|Updated: Jul. 6, 2016 at 1:30 AM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

MONTEVALLO, AL (WSFA) - Donald Trump and Hillary Clinton are facing off to lead the United States, and their economic plans could have a long-lasting impact.

One of Alabama's top economists says the two plans are "our classic Republican vs. Democrats with a twist."

The twist, according to Keivan Deravi, is Donald Trump appealing to some policy that supports the labor unions.

The focus of both parties is helping out the middle class, which still faces a recession hangover.

"People who are making probably $75,000 or less that have not experienced the positive side of this recovery yet," Deravi said.

Clinton's plan mainly focuses on taxing the rich, while Trump's plan focuses more on trade deals. Trump says new agreements need to be made with countries like China and Mexico.

Both sides have taken some form of an anti-globalization stance, opposing policies that are meant to open up trade through helping to eliminate things like import taxes. If one of the candidates decides to impose heavier tariffs, it could mean some big consequences.

"It would cause a consequence of a trade war, which the outcome of this would be very, very hard to imagine," Deravi said.

The result could mean the goods you buy every day would cost more, which could end up hurting the middle class.

It is important to note that these speeches Trump and Clinton are making may not accurately reflect their policy.

It is nearly impossible to boil down a complex economic plan to a stump speech.

"None of these speeches in the long run would matter. What matters is how much of their policy they;re absolutely dedicated to and how much of their policy they're successful at implementing," Deravi said.

Copyright 2016 WSFA 12 News. All rights reserved.