If by some chance you hear Trump take credit for reducing the federal deficit, it will be due to the revenue from his tariffs. Be sure to give him credit, also, for the revenue flowing out of the private sector, and for the economic slowdown that follows.
If the tariff revenue is anywhere near enough to make a dent in the deficit, the resulting slowdown will give new meaning to the word severe.
His plan appears to be to shift the deficit burden onto the private sector. Trump seems to think that by calling for lower interest rates, he will make this affordable.
It will not work. The private sector is already too deep in debt. That's why we had the financial crisis of 2008. It took ten years of recovery, then, before we saw even a hint of a decent economy. I predicted that improvement, but it was far weaker than I expected.
Adding to the debt of the private sector is not a viable plan. The outcome will be the Trump Depression.
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