Tags: jack welch | donald trump | economic plan | unlimited

Jack Welch: Trump's Economic Plan Has 'Unlimited' Opportunities

Jack Welch: Trump's Economic Plan Has 'Unlimited' Opportunities

(AP/Evan Vucci)

By    |   Friday, 11 November 2016 06:11 AM EST

Former General Electric CEO Jack Welch says that President-elect Donald Trump's economic plan has “unlimited” opportunities.

"You look at lower taxes. You look at job creation. We are stuck. We have been stuck in a terrible, overregulated economy for eight years. I mean stuck. Business stinks," Welch told CNBC.

Welch noted that because Republicans also retained control of Congress, Trump has an "awesome responsibility because there's no one else to point the finger at. So you've got to get a team together."

Welch thinks Trump needs to forget every fight he had in the primary and general election and focus on who the best people are for the job.

"You can't have grudges in this game. You need talent. We will win with the best people," he said.

"He's not going to shut down trade. He's going to get a better deal on TPP. He's going to do these things. This guy's a dealmaker," said Welch.

Welch isn't alone in his enthusiasm for Trump's potential

Veteran financial guru Larry Kudlow, who served as the Trump campaign's senior economic adviser, tells Newsmax TV that Trump will live up to his campaign vows to restore prosperity to all Americans and the nation we all love.

"Donald Trump has a very strong economic growth message which is going to be great for the economy and for profits and for businesses large and small," Kudlow said Wednesday to Steve Malzberg on "America Talks Live."

Kudlow, a Newsmax Finance Insider and CNBC senior contributor, said the billionaire real-estate tycoon was successful because he understands the dissatisfaction of "ordinary middle-class folk." 

"With Mr. Trump you're going to have across the board tax cuts, you're going to end Obamacare, which is a prosperity killer and a healthcare killer, you're going to take the handcuffs off of energy, you're going to wall back all these regulations and you're going to stop the government from taking over the economy. That's a powerful message," Kudlow said.

Trump "understood that they were angry and that the establishment in Washington and elsewhere was not delivering. He understood that they wanted change and he understood that they wanted to drain the swamp, get rid of the corruption, stop the corporate cronyism," Kudlow said.

"He understood that instinctively and he knew that people were not willing to give up the American dream … I think it was effective and I think he hit it exactly right. He just understood the American people in a way that no other political figure has understood it."

But the possibility of Trump slapping punitive tariffs on exports from some countries such as China has unnerved some investors. 

"The markets are adjusting to a new reality and are giving Trump the benefit of doubt," Adam Sarhan, chief executive officer of Sarhan Capital, told Reuters.

"He does have some problems with immigration and with social issues, but his economic policies, at least in the short-term, are perceived to be stimulative and net good for the economy and that's why stocks are rallying."

(Newsmax wire services and Bloomberg News contributed to this report).

 

© 2024 Newsmax Finance. All rights reserved.


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Former General Electric CEO Jack Welch says that President-elect Donald Trump's economic plan has “unlimited” opportunities.
jack welch, donald trump, economic plan, unlimited
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2016-11-11
Friday, 11 November 2016 06:11 AM
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