Business Insider senior editor Josh Barro sits down with Paul Krugman, a Nobel Prize-winning economist and distinguished professor of economics at the City University of New York. They address the one-page sheet released by the Treasury department this past week, which argued that President Trump’s economic policies — including the tax bill — will shrink the government deficit. Krugman says that the gross domestic product (GDP) growth forecast put forth was pulled out of thin air, with no backup. He notes that the projections are roughly nine times that of the Joint Committee on Taxation’s forecast. Krugman says that even the most ideal policy in the world would fail to boost GDP by 7%.
Barro asks if the tax plan as proposed will boost economic growth at all, and Krugman says he’s not particularly optimistic about it. He notes that many of the studies that have been done don’t touch on the impact of the national deficit on growth, and says that many of those organizations are using an inexact definition of growth. Krugman says that even if GDP ends up being positive, gross national product could end up being negative.
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RT’s Afshin Rattansi speaks to the director of the Academy Award-nominated film ‘Jackie’ and Golden Globe Award-winner Gael Garcia Bernal about the new film Neruda, following the life of Nobel Prize-winning poet, politician and revolutionary Pablo Neruda.
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The VICE News Capsule is a news roundup that looks beyond the headlines. Today: Tensions rise between locals and foreign shopkeepers in South African city of Soweto, Chile will reopen its investigation into the death of Nobel Prize-winning poet Pablo Neruda, El Salvador grants amnesty to woman accused of having an abortion, and Libya’s political crisis has its residents struggling to keep the lights on.
Violence and Looting at Foreign-Owned Shops Near Johannesburg
Two people were killed on Thursday during clashes between locals and foreign shopkeepers in Soweto. The unrest was sparked by the shooting death of a teenager during a botched robbery attempt.
Government Reopens Inquiry Into Death of Poet Pablo Neruda
Officials say there’s reason to believe the Nobel Laureate was poisoned in the days after the 1973 coup.
Amnesty Granted to Woman Accused of Having an Abortion
Carmen Guadalupe Vasquez was serving a 30-year sentence for aggravated murder. She was charged following the death of her baby and was initially accused of trying to have an abortion, which is banned in the country.
Ongoing Fighting Causing Power Cuts
Families are forced to buy generators to cope with energy shortages as the government struggles to meet demand.
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