And if this happens, I’ll do with it what I did with the CovidBS-19 cash Mother Government sent me - donate it to Free Republic!
Pay Down Our National Debt with this ‘found’ money! Those of us that are doing fine will continue to do so. Those that aren’t are going to blow it on stupid stuff, as they do with any windfall.
You either know how to manage your financial life...or you don’t!
The tariff revenues are about $190B as of end of FY 2025.
There were many projections of more, and of course there was talk of 3 or 4 trillion dollars (which generally stopped right there in the claims, neglecting to say that would be over 10+ years.
The deficit was $1.77T last FY. Which, of course, adds to the debt. If the USSC shoots down tariffs, the deficit for FY2026 (now) will have the $190B tacked on, refunding that money to companies or countries. The checks that get written to India and China and other BRICs will be interesting.
I got no problem with the President’s management style. There is always short term gushing optimism and then behind the scenes evaluation and rephrasing. Other countries have nodded at this. They now have him calibrated. Good things can come of this.
But make no mistake here, magnets loom. Imagine the Walmart whose food freezers broke and can’t repair them. Don’t know what the schedule for maintenance is on them. I would think we’ll see only hints of the issue by election day, but thereafter, we’ll be begging the Chinese for magnets.
Even if that makes sense, and I’m sure it does too many of us, DC politicians simply don’t think that way.
Any kind of financial windfall is always seen, to politicians, as an opportunity for new spending.
I’d rather the tariff money be in my pocket than theirs.