More GREAT news on the deficit and GDP! WINNING!

[transporter]

CBO expects deficit to grow more than projected, warns that tariff hikes could harm growth

The U.S. budget deficit is expected to hit $960 billion in 2019, and average a whopping $1.2 trillion per year between 2020 and 2029, according to the CBO’s look-ahead at the U.S.′ budget and economic outlook over the next decade.

The new deficit projection for 2019 rose $63 billion from the last report, which came out in May. The CBO says this is mainly because of the massive new budget deal, which passed both houses of Congress and was signed into law by Trump on Aug. 2.

And while his trade war with China rages on, the CBO also says that the tariffs imposed under Trump since January 2018 are expected to make U.S. GDP roughly 0.3% smaller than it otherwise would have been.

“Trade policies” are weighing on economic activity, “particularly business investment,” the CBO said.

Bigger deficits and slower economic growth...this is what Trumpians consider WINNING!!!

 

[Yooper]

Bigger deficits and slower economic growth...this is what Trumpians consider WINNING!!!

I'm not sure anyone would consider this winning. Unless, of course, there are bigger fish to be fried.

It would seem to me that if we didn't fight the bigger fight* we currently have in front of us (and, as such, accept the short-term pain) it would be like refusing chemotherapy to deal with cancer because the short-term effects of the chemo were so bad.

My take, anyway.

Of course, would be interested in your thoughts as to how we could have our cake and eat it, too. Always interested in learning.

* The "bigger fight" I have in mind is one that has multiple aspects dealing with multiple countries in multiple domains. So a bit of a Gordian Knot. If you see it differently (i.e., more complicated, less complicated, etc.) I'd like to hear/read your thoughts on that, as well.

Cheers!

--- End of line (MCP)

 

[Yooper]

Just saw this. So let's add it:



--- End of line (MCP)

 

[Yooper]

And in line with my two previous responses, let's post this:



(One of the multiple issues we have to deal with vis-a-vis China (from my first response). And FWIW, I agree with Adams.)

--- End of line (MCP)