Donald Trump wants massive infrastructure stimulus, blames President Obama, Hillary Clinton for ISIS
BECKY QUICK: This week has been a big one for the economy when it comes to what’s been happening on the campaign trail. The Republican presidential nominee Donald Trump launched a refined economic plan for the general election. We look forward to talking to presidential candidates about a range of economic issues here on CNBC. This is our wheel house. In fact, yesterday we spoke to Green Party candidate Dr. Jill Stein. Today we’ll be hearing from Libertarian Gary Johnson. That’s coming up in the 8:00 hour. By the way, we’ve invited Hillary Clinton repeatedly to join us even just this week. She has not accepted any of those invitations. Of course, Secretary Clinton has an open invitation here on “Squawk Box” as soon as she chooses to take us up on that. One person who is joining us this morning on the Squawk newsline is GOP presidential candidate Donald Trump. Mr. Trump, thank you for being here this week.
TRUMP: Good morning. I guess Hillary is sleeping.
2011 CPAC photo Gage Skidmore
QUICK: She has not done a press conference this year. So we’ve repeatedly put out these invitations but we are looking forward to hear more on what’s happening on the economy. I know this week on Monday in Detroit you laid out a more refined plan for what you planned to do. But you also hinted in that speech that you’d be giving more details. Can you give us any hints about what is still to come in terms of filling out some of that economic plan?
TRUMP: Well, we gave great detail in the speech. It was well reviewed and well received, I think very. And very — basically we’re about getting rid of massive regulations which are unnecessary which are killing businesses and making it virtually impossible. I mean, no matter what you do, it’s making it virtually impossible to start new businesses. And a lot of old businesses are being hurt very badly. Obamacare is being hurt – I mean, just absolutely decimating businesses if you look. I’ve gotten to know so many is small business owners and big business owners over the last period of eight months and I will tell you, Obamacare is devastating businesses. I get it all the time. I really see it. I’m sort of like a pollster. I can take a poll of the pulse. And the pulse isn’t good because businesses are being destroyed. They’re being destroyed by high taxes. They’re being destroyed by Obamacare. And they’re being destroyed by regulation. And we’re doing a lot about each.
QUICK: In terms of what specifically? Part of the concern from some think tanks out there who ran the numbers before was that your plan would create a massive deficit. $10 trillion to $12 trillion was kind of what the range ran. You laid out more details this week and I know many of the people we’ve talked to have pointed out that part of this is growth that will help with along the way. GDP would increase. Part of this is getting regulation. But can you put your arms around what type of deficit your plan you think would create?
TRUMP: I heard $3 trillion. I think it will be much less than that. We’ll have a long-term accumulated deficit of $3 trillion. I think it’s going to be much less than that, but we have to get our jobs started. We have to get our jobs back. Our jobs have been taken by so many countries. Our jobs have been taken by Mexico. Mexico is the eighth wonder of the world. Mexico, what they’re doing down there. I go to rallies and I tell people there is a man who is a friend of mine who builds plants. He builds massive plants for automobiles and for computers and for everything. I ask him how are you doing. He said I’m doing great because of Mexico. Mexico is — he told me he’s the one that used the expression it’s the eighth wonder of the world. What they’re building in Mexico. I said how about the United States? He goes, not so much. Not doing great. Not doing a lot. Where he is building is in Mexico. And other places, but Mexico in particular. And we’re losing businesses to Mexico like one after another. Ford is building a massive new plant. It’s an extension of another one. It just keeps going. You look at carrier air conditioning from Indianapolis, Indiana. They’re going down. And we can’t continue to lose our companies. We’re not going to have any companies left.
