Replies to post #528600 on Tornado Alley (PROG)

[janice shell]

And what would those "recent U.S. tariff increases" be? Trump has "postponed" most of them. He doesn't even had a final deal with the U.K.

TACO!!

[longrider51]

Look beyond the headline to understand what funds this folly...a huge household wealth transfer!

Largely confirming what other economic models have predicted, the CBO's estimations show that the tradeoff for a $2.8 trillion deficit reduction over 10 years would be an overall reduction in household wealth. In addition, the tariffs would shrink the economy, or reduce the rate of the gross domestic product by 0.06 percentage points per year.

The Penn-Wharton Budget Model's April report predicted that the Republican president’s tariffs would reduce long-run GDP by about 6% and wages by 5%.

OUCH!

Summary: Reverse Robin Hood Economics, take from the poor, give to the rich.

https://www.yahoo.com/news/trumps-tariffs-cut-us-deficits-180210128.html

[sortagreen]

Boy you are one gullible MAGAt.

American consumers pay tariffs.

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in reality the deficits just keep growing

In CBO’s projections, the federal budget deficit in fiscal year 2025 is $1.9 trillion. Adjusted to exclude the effects of shifts in the timing of certain payments, the deficit grows to $2.7 trillion by 2035. It amounts to 6.2 percent of gross domestic product (GDP) in 2025 and drops to 5.2 percent by 2027 as revenues increase faster than outlays. In later years, outlays increase faster than revenues, on average. In 2035, the adjusted deficit equals 6.1 percent of GDP—significantly more than the 3.8 percent that deficits have averaged over the past 50 years.

https://www.cbo.gov/publication/60870