Myth busting the Trump economy.

Trump's Tariffs Failed to Fix the Trade Deficit

"President Donald Trump was elected on a promise to reduce or eliminate the U.S. trade deficit. Instead, that deficit has risen to heights not seen since before the Great Recession. Reducing it will require a smarter approach than Trump’s failed tariff policies."
https://www.bloomberg.com/opinion/a...ump-s-tariffs-failed-to-fix-the-trade-deficit
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• Based on 2019 import levels, U.S. and retaliatory tariffs currently impact over $460 billion of imports and exports, and President Trump’s tariffs are increasing annual consumer costs by roughly $57 billion annually.

• The tariffs are having a notable impact on trade levels, decreasing both imports and exports, which reduces consumers’ options and further increases prices in the United States.

https://www.americanactionforum.org/research/the-total-cost-of-trumps-new-tariffs/#ixzz6kepDH0kC

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https://www.bloombergquint.com/view/manufacturing-jobs-boom-is-fading
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The deficit, pre-COVID, was increasing each year despite the growing economy Trump inherited. You can see the decline in the deficit during Obama's tenure once the effects of the Bush recession were mitigated.

https://datalab.usaspending.gov/americas-finance-guide/deficit/trends/

What's it all mean, Alfie? Two primary takeaways for the sake of setting the record straight. Just so the board will not be littered with posts extolling the virtues of the "Trump economy" any longer.

1. Trump's tariffs did not result in a lower trade deficit.......as promised. Instead it grew while costing US consumers billions. 2. The increase in manufacturing jobs under Trump was an extension of a trend that began with Obama's presidency. Boosted by the tax cut.......which Repubs never would have voted for under Obama.......resulting in the US running increasingly higher deficits......in contrast to Trump's promise he would eliminate the deficit. Virtually all the data points Trump fans point to as being successes attributed to the King of Debt are a consequence of massive deficit spending.

 

He failed because he could get no support from the democrats and media. China knew that all they had to do was wait him out and he would no longer be president.

 

COVID-19..

You did factor that in, right? Oh wait, what was I thinking it's a Lee Atwater production

 

Plus democrat Swalwell and his Chinese spy girl friend worked hard to discredit Trump. The media ate it up.

 

Look at the graphs, the left see what they want to see regardless. In this particular hit piece we are to focus on the last year after COVID struck!

 

That is all they will ever focus on. They try to claim that if Trump had shut down the economy completely, somehow the economy would have just kept on chugging along because there would have been fewer deaths. They fail to realize or acknowledge that we can either shut down the economy completely and everyone stay home and starve to death and there will be no economy or we can try to keep it going on at least some level with more loss of life, but with a better economy.

The problem with shutting economy down is that for those of us who are most vulnerable, our life is threatened by this shut down. I am 83. I have trouble getting the meds I need or getting doctor's appointments which I need.

There is no right answer. One is about as bad as the other.

 

Right...Trump's failed policies are the fault of everyone else. That is some twisted logic

 

Explain how they were going to work when the left let China know that they did not support him.

 

Hahahaha...we all know what excuses are like

 

Yes. Anything else?

 

The opposite is true. For example......from the OP....."The deficit, pre-COVID, was increasing each year despite the growing economy Trump inherited."

 

Funny how they missed ignored that part.

 

You obviously can't show where I am wrong. In the event you have already forgotten, Chuck Schumer supported Trump in this effort.

 

Ya and if you are looking for a surplus you won't find one prior to 2002.. At least with Trump people were returning to work, unemployment was the lowest, ah hell with it.. You just post your nip picking MSNBCNN nonsense, it's all bullshit now that Brain bleeder is President.. Lets see how he does

 

They failed because other people interfered ..

 

You of course can provide specific details backing your claim?

 

As I have pointed out, something Trump devotees refuse to acknowledge, Trump inherited an economy growing at trend growth of around 2% and juiced it with a massive tax cut. Naturally unemployment went down. It didn't go down due to innovative policies or a long term strategy, it went down due to a temporary boost to GDP designed for electoral success.

 

You need to stop using facts...it only confuses them

 

You're kidding right? Such a level of if ignorance would require one to have lived under a rock, inside an amoeba, under the belly of a dead snake.

 

Trump failed miserably because he underestimated the willingness of the democrats to put politics above the country.

 

LOL! He had the House and the Senate for his first two years, that's when they pushed through the tax cuts. Nice excuse, though.

I guess one could make a point that if even more people would have spent money they didn't have based on the illusion of the magical Trump economy, his GDP could have been better for a year or two. I am sure Obama's GDP could have been better too, had the Obama haters not sat on their wallets and pulled out of the stock market, because they believed in the "Dems are bad for the economy" claptrap.

 

Just as I thought...more nonsense by yourself.

 

It's all they have. It's easier for them to make excuses for poor policies. Apparently the tariffs would have fixed the trade deficit had some felt good about it. Because that's how it works.

 

We could get along without trade with China a lot easier than they can get along without trade from us. Trump needed support from the US that this effort would be continued into the next administrations. The Chinese are great at the waiting game. They knew that without that support, at some point they would win. We did not have the will to continue and we lost. That is why Chuck Schumer told Trump to "Hang tough". The trade war was doomed from the beginning without that support and I said so at the time.

 

So you profess ignorance of the obvious as a defense? The unholy alliance of cheap labor Republicans and Fascist Democrats tried to block anything and everything Trump did. The Dems latest was the semi permanent lock down in blue states that was as ineffectual as it was unpopular.