Many people complain that government spending and debt was high under an Obama Administration, but government spending and debt will still rise under a Trump Administration.
Whereas the Democrats tax and spend, the Republicans will spend and spend.
Lower taxes and higher spending means more money going out and less coming in. You don’t need to be an accountant to know that if there is more money going out and less coming in, you need to either go into debt or print more money.
Either way, the amount of money in circulation will increase, which will cause inflation (see “Investors are betting that Trump will be the inflation president“).
This is very bad for families because although money can be printed from thin air, value cannot be. The more money there is, the more inflation there is, which means the cost of living is higher, and families tend to spend a lot.
Thankfully, I am am single and childfree. No wife and no children means I don’t need to spend much money. I only feed one mouth rather than three to five.
My recommendation to others is to live a minimalist lifestyle and invest your money in assets that go up with inflation (e.g. stocks, property, gold, and inflation-indexed government bonds). The breadwinners in families with massive costs of living will need to slave away in a desperate attempt to keep on top of the inflation that will ravage their household finances.