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Trump's tariffs will reduce deficit by $4 trillion

hooligan said:
That $53T already includes the tariff revenue, no?

...CRFB published an updated budget baseline as of August 2025 that incorporates the enactment of Republicans' One Big Beautiful Bill Act (OBBBA) along with the Trump administration's new framework for tariffs to account for legislative and administrative changes, though it doesn't include economic changes...
Click to expand...
Hmm. That's a good point, and I don't know if that $53T includes the tariff revenue or not.
 
Desert Storm said:
Trump's tariffs will reduce the deficit by $4 trillion, but thats over the 2025-2035 period.
This according to the Congressional Budget Office (CB), which is not thought to be a friend of Republican presidents or Congress.

www.foxnews.com

MORNING GLORY: Are President Trump’s tariffs actually working?

If so, will skeptics revise their disdain for them?
www.foxnews.com www.foxnews.com
Click to expand...
Yes...another case he said she said...but lets look at history....

Bush II tax cut​

  • Republican Promise: The tax cuts would spur enough economic growth for revenue gains to offset the initial losses, with advocates like the Heritage Foundation projecting that they could "effectively pay off the national debt by 2011".
  • Deficit Impact: Instead, these tax cuts contributed nearly $500 billion to the deficit by 2018, and without them, the national debt as a percent of the economy would have been over 25 percentage points lower.
  • Public Claims: The rationale was that reducing taxes, especially on higher earners and investors, would promote growth and pay for itself, but this did not happen.

Trump 2016 Tax Cuts (Tax Cuts and Jobs Act of 2017)​

  • Republican Promise: Trump and Congressional Republicans claimed the tax cuts would "pay for themselves" primarily through rapid economic growth, and Trump even said he could “get rid of the $19 trillion in debt” in eight years.
  • Deficit Impact: Instead, these tax cuts are projected to add $1.9 trillion to the debt over 11 years, with actual deficits during Trump’s term exceeding projected deficits by at least $3.9 trillion for 2017–2027.
  • Public Statements: Republicans continued to argue that tax cuts would boost growth enough to reduce deficits, but most independent analyses and budget offices warned of large deficit increases


Now back to Trarif

Economic Growth and Productivity Risks​

  • The CBO itself warns that while tariffs increase government revenue and reduce deficits, they also shrink the overall U.S. economy.
  • Lower economic output could mean fewer jobs, lower incomes, and reduced investment, which ultimately hurts prosperity and tax receipts in future years.
  • Oxford Economics and other independent analysts point out tariffs can slow GDP growth, offsetting some deficit benefits.

Consumer and Business Costs​

  • Tariffs function as a tax on imported goods, often pushing up costs for U.S. consumers and businesses.
  • The higher prices on everyday goods (like electronics and food) can erode household purchasing power, disproportionately hurting lower-income families.
  • U.S. exporters also face retaliatory tariffs from trading partners, threatening jobs and hurting industries from agriculture to manufacturing.

Trade Relations and Sustainability​

  • Relying heavily on tariffs for deficit reduction is risky—trade partners could change policies or retaliate, and legal challenges (WTO, etc.) could force the U.S. to repeal tariffs.
  • The CBO notes that tariff policies are subject to international negotiation and could change unexpectedly, so the deficit benefit isn’t guaranteed over a full decade.


Class dismissed

Diving Mullah
 
Diving Mullah said:
Yes...another case he said she said...but lets look at history....

Bush II tax cut​

  • Republican Promise: The tax cuts would spur enough economic growth for revenue gains to offset the initial losses, with advocates like the Heritage Foundation projecting that they could "effectively pay off the national debt by 2011".
  • Deficit Impact: Instead, these tax cuts contributed nearly $500 billion to the deficit by 2018, and without them, the national debt as a percent of the economy would have been over 25 percentage points lower.
  • Public Claims: The rationale was that reducing taxes, especially on higher earners and investors, would promote growth and pay for itself, but this did not happen.

Trump 2016 Tax Cuts (Tax Cuts and Jobs Act of 2017)​

  • Republican Promise: Trump and Congressional Republicans claimed the tax cuts would "pay for themselves" primarily through rapid economic growth, and Trump even said he could “get rid of the $19 trillion in debt” in eight years.
  • Deficit Impact: Instead, these tax cuts are projected to add $1.9 trillion to the debt over 11 years, with actual deficits during Trump’s term exceeding projected deficits by at least $3.9 trillion for 2017–2027.
  • Public Statements: Republicans continued to argue that tax cuts would boost growth enough to reduce deficits, but most independent analyses and budget offices warned of large deficit increases


Now back to Trarif

Economic Growth and Productivity Risks​

  • The CBO itself warns that while tariffs increase government revenue and reduce deficits, they also shrink the overall U.S. economy.
  • Lower economic output could mean fewer jobs, lower incomes, and reduced investment, which ultimately hurts prosperity and tax receipts in future years.
  • Oxford Economics and other independent analysts point out tariffs can slow GDP growth, offsetting some deficit benefits.

Consumer and Business Costs​

  • Tariffs function as a tax on imported goods, often pushing up costs for U.S. consumers and businesses.
  • The higher prices on everyday goods (like electronics and food) can erode household purchasing power, disproportionately hurting lower-income families.
  • U.S. exporters also face retaliatory tariffs from trading partners, threatening jobs and hurting industries from agriculture to manufacturing.

Trade Relations and Sustainability​

  • Relying heavily on tariffs for deficit reduction is risky—trade partners could change policies or retaliate, and legal challenges (WTO, etc.) could force the U.S. to repeal tariffs.
  • The CBO notes that tariff policies are subject to international negotiation and could change unexpectedly, so the deficit benefit isn’t guaranteed over a full decade.


Class dismissed

Diving Mullah
Click to expand...
TL; DR
 
Yes_Minister said:
I thought the GOP was supposed to be the party of fiscal responsibility, not the Dems. Maybe fiscal responsibility is actually a giant scam:


reason.com

Rush Limbaugh Abandons Fiscal Conservatism

The pundit heavily criticized President Obama for excessive spending. Now he says it doesn't matter.
reason.com reason.com
Click to expand...
This highlights a difference in position between myself and the present GOP.
The more recent reconciliation bill which was passed and signed vs. my position, which is there's no reason to not return to the spending pre-COVID spending levels (will to talk about adjustments for Biden's inflation).
 
Desert Storm said:
We're smart enough to know the difference between XX and XY chromosomes 😂
Click to expand...
If that were true, you'd be able to descern the difference between a biological woman and a trans women.

But all yall magas definitely have a problem with that.
So, tell me how smart you are again.
 
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