On November 14, analysts at the Institute of International Finance (IIF) said that the incoming president plans to cut taxes amid unequal spending cuts, which would raise the US national debt from around 100% of GDP today to more than 135% in 10 years. Inflation could also rise as Trump spurred spending by imposing tariffs on foreign-made goods and made imported goods more expensive. The U.S. national debt is already approaching $36 trillion, and the Institute of International Finance has warned that if Trump's tax cuts cost the U.S. Treasury more than expected, the debt could reach more than 150% of GDP. In addition, the Institute of International Finance noted that the United States is "heavily dependent on migrant workers" for farms, construction and health care, and that cracking down on this group under Trump could "exert additional pump pressure on prices". (Golden Ten)