What do Donald Trump and Elizabeth Warren have in common?

by Ryan Smith18 Mar 2016
What do Sen. Elizabeth Warren and Republican presidential frontrunner Donald Trump have in common? Well, according to one CEO, they’re both a threat to the U.S. economy.

U.S. Chamber of Commerce CEO Thomas Donohue told Bloomberg Television today that lawmakers who support trade restrictions or stronger oversight of financial companies are ignoring what’s best for the economy in favor of short-term political gain. In particular, Donohue singled out Warren (D-Mass.), a vocal supporter of regulation, and Trump, who has floated the idea of a 45% tariff on Chinese imports.

Donohue said politicians who follow Warren’s route of demanding tighter regulations could damage the economy.

“They look at the polls, they figure out it plays well, they listen to Elizabeth Warren, who is, all of a sudden, the pope in terms of what’s acceptable in this religion,” he told Bloomberg. “And we’re making a fundamental mistake.”

He also criticized Trump’s position on trade, saying increased tariffs would only lead to higher prices for U.S. consumers and pressure on manufacturers trying to sell their wares in global markets.

“We’re going to become a less significant economic force, and when we become a less significant economic force, we’re going to be a less significant force in geopolitics,” Donohue said. “We don’t want that.”

Donohue told Bloomberg that while Warren’s and Trump’s tough positions on regulation and trade may be “a good political line,” government leaders have a responsibility to “talk about the issues as they really understand them” and not be swayed by polls.

“It is incumbent on people that take major positions in our government to familiarize themselves with the facts and get off the rhetoric,” he said.


  • by Bill Edwards | 3/18/2016 3:28:00 PM

    Ryan Smith....is your head really that far down in the sand? Thomas Donohue (CEO of U.S. Chamber of Commerce) is a card carrying establishment GOP supporting donor. The Chamber has been one of the GOP establishment's main donor for years......of course he would not like Trump! Donohue wants cheap labor for his members (ie: illegal immigration). Trump wants to end illegal immigration.......as do the majority of voting Americans!

    Trump 2016!

  • by Joe | 3/18/2016 3:41:31 PM

    Cheap labor doesn't require more illegal immigrants, it requires getting many americans off of wellfare and government subsidies That won't work for $40,000 a year at a job because they can get the equivalent of that in government (ie tax payer hand outs). It is important to help those who need help, welfare was intended to be a bridge to the next job not a replacement for the next job. The portion of the country living on other people's money is growing significantly faster than the portion of people contributing to society and paying taxes. This is a scary trend. People do what they are rewarded to do and avoid what they are punished to do. We reward people that are not willing to work by giving them handouts, and we punish success by overtaxing it vs. a simple fair tax. That is why America has a far lower percentage of the top 1000 companies in the world than they used to. If we continue to punish success we will have less of it, and if we continue to reward laziness will have more of it. Simple incentives and human nature.

  • by White-male Voter | 3/18/2016 3:51:59 PM

    I agree with what you say about Ryan Smith, but do you believe the "wall" Trump says he will build, with Mexico's money (LOL,) is going to solve the immigration situation? The only reason I'd find comfort in Trump being elected, is watching him weasel out of why he can't get accomplish anything he has said during his campaign.


Should CFPB have more supervision over credit agencies?