Peter Schiff Is Not Optimistic... Authored by Peter Schiff via X , The most likely legislation Congress can pass that Trump will sign will preserve all the tax cuts Trump brags about but include all the extra spending that Democrats want. It may also contain a complete repeal of the national debt ceiling and price controls on credit card interest rates .
The result will be massive increases in already massive federal budget deficits. If the economy also slips into recession due to a big slowdown in AI capex, budget deficits currently running at around $3 trillion annually could rise to nearly $5 trillion .
That will send the national debt soaring to $50 trillion by the end of Trump's term. To accommodate those massive deficits, the Fed will open up the monetary spigots like never before, launching the mother of all QE programs . The U.S. dollar will tank, and consumer prices will go through the roof.