The big tariff collections havent really started yet
Don’t tell Congress!
It's part of his strategy (really Trump) to tackle the deficit by charging other countries tariffs but at the same time expanding the economy in the U.S. by bringing industry back.
Tariffs will be a blessing in the long run - once everyone gets past the hysteria of the MSM. Slowly add on more and more and gradually work them into the system. I'll be a WIN.
I hate to burst anyone’s bubble, but a $343 billion swing in net surplus, from May to June, isn’t explained by a $4 billion swing in tariff revenues. Hint: June is the month of quarterly estimated tax payments.
We are going to see a lot of reduced spending as non citizens get cut from the all the welfare, entitlements, SNAP, Section 8 housing, child and other tax credits, free daycare and free healthcare benefits they are sucking off the system.
People are going to be stunned at how much taxpayer money has been illegally flowing to support illegal aliens , undocumented recipients, fraudulent and phantom enrollees, migrants and other non citizens who often are receiving benefits under multiple false identities.
The government is doing all it can to hide this spending but we will learn just how much is being spent when the money spigot gets systematically shut off over the next year or so.
We’re probably looking at deficit-reduction of at least half a trillion dollars. And keep in mind that the what the media is saying about BBB adding trillions to the debt over a decade is deeply misleading: the BBB isn’t making new revenue cuts; it’s just preventing an enormous automatic tax hike. I’m very optimistic that we can cut the deficit to below the amount we’re paying for interest.
Is this the first surplus since 2000?
The Doomers are claiming BIG BIG BIG debts!
Don’t tell Rand Paul or Thomas Massie neither of whom are economists
Positive news, informative thread. Thanks to all posters.
The National Debt is now at $36 trillion. A “surplus” is when you have money left after all debts are either paid or accounted for.
The US has no surplus, regardless of a one month spike in revenue. The US won’t be able to have a real surplus for decades to come, if ever.
Quarterly Tax Payments were due on June 16.
My guess is that the “big jump” in collections was that quarterly estimated taxes were due June 16th.
Unexpected. Drink.