[the economy doesn’t just inch forward – it takes off.]
I pray this is true - at least for awhile - I could use to get back to making money again in a decent way
Prayers up!
This isn’t Peter Navarro’s first go as tariff czar. He had the position in 2020.
That year, most prominently, Trump made a deal with China involving tariffs on certain Chinese goods and a commitment by China to buy so much American farm product. (All things considered, I thought this was a good deal.) There were other initiatives, but for various reasons these other initiatives were mostly muted.
In the end, Trump made no progress in closing the trade deficit and raised only a small amount of money on the Chinese tariff.
https://www.politico.com/news/2020/10/06/trump-trade-deficit-426805
To be sure, the budget deficit ballooned (to a level relative to GDP not see since WWII), but the budget deficit was mostly because of paycheck protection and other COVID-related spending. (To be sure, Trump, most Republicans and practically every Democrat were for the spending. Only Freedom Caucus-type Republicans were opposed.)
Now Navarro is back, and it looks as though Trump means business. There’s a lot of uncertainty about this, as Trump has been postponing big tariff increases. But, assuming Trump finally pulls the trigger, we’ll have our big beautiful text of tariffs.
Finally, a news story that shows what is likely to happen under tariffs. People don’t understand how tariffs work in the marketplace and they don’t see how they affect economic growth, especially in the long run.
bttt
The economy is only booming for the 1% will gramps and granny choose between meds and dog food. Hakeem Jefferies. 3……2……1
If we’re still trillions in debt how is it a “surplus”. EILIF please
I really doesn’t much matter. If revenues come in “trillions” above budget, Congress will merely look at that as if it’s a windfall. They will spend 130% of any surplus, rather than applying it to the National Debt.
Congress IS the problem.
A tip of the hat to Navarro. I am glad he is on the team.
when has the CBO got it right??? They underestimated the costs of obummercare, overestimated the enrollment and claimed it would cut the deficit...
Senator Rand, why do you not like the BBB?
The BBB will add a few trillion to the national debt. If the BBB wouldn’t, then there would be no need to increase the debt limit by so much.
Does the author really believe that?
If so, the author would not reason to object to a 20% surcharge on personal and corporate income tax if the national debt exceeds $42 trillion.
The Griffin plan for manufacturing would add about 1 million new jobs long-term.
Why so few?
Because most new manufacturing in the USA would be done by automated equipment.
One can walk down the aisles of Walmart and Home Depot and see how much stuff now made in China could be made and packaged by automated equipment in the USA.
"How the CBO got it wrong again: Trump's economic bill set to generate trillions in surplus, not debt"
So in addition to being nominated for Nobel Peace Prize, Trump also deserves a nomination for Nobel Prize in Economics imo.
Yes, the Nobel Prize in Economics may be getting ahead of the actual results of Trump's policy. But hey, they gave a Nobel Prize for global warming alarmism regardless that there's still been no unprecedented climate problems imo.
Sadly, the Nobel Prize in Economics amounts to Trump cleaning up dirty government policies.
Tax Cuts ALWAYS bring in more Revenue
I believe? Glory, halleluiah, I believe! I once was blind and now I see!
We don’t need to fix entitlements! That’s for chumps and fools! The structural deficit? Nonsense! Social Security, Medicare, Medicaid and debt service on a statutory glide path to consume 100 percent of federal revenues? More for the chumps and fools!
We’ll just outgrow it! I believe!!!!
Just like the socialists think they can solve the problem by confiscating the income and assets of a few hundred rich people, who will just be incentivized to work harder and increase federal revenues even more!!! They too believe.
[hack, cough]
Quick, pass the hopium pipe!!!
[puff, puff]
Ah, my vision is clear again. See road? Kick can. Repeat as needed. I believe!!!
Meanwhile, in the real world, either we hold the rate of growth of entitlement spending below the long term rate of growth of GDP, or we go bankrupt. Hopium smoke not allowed.
I had problems in college with Economics. It seemed like my profs would lecture us on one thing, and common sense told me the exact opposite. I even went to one of my profs to try to get him to explain something to me once, and (no lie), he gets out the book and reads me something that made no sense at all. Took him forever to find what he needed. He didn’t understand the subject any better than me.
No matter what the truth is, anything Trump or any other politician does, particularly those on the right, will not last. The left and the stupid voters will see to that when the regime changes again.
We have no national policy. We only have temporary regime policies. Imagine what a great nation we could be if we had steady positive growth national policy that could not be changed so capriciously.