re: I’m ready to be back in a Trump economy!

For those of you who can read, here you go.

It lays things out well, if you cant understand it, its on you.

LINK

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Over the past half-decade, in period of solid—if unspectacular—economic growth and historically low interest rates, the federal budget deficit has been going up. And up. And up.

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That is not how it is supposed to work. In normal fiscal times (if there is such a thing), deficits are expected to rise when the economy slows and fall when times are good. Now, it seems, they rise even when the economy is at full employment.

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But starting in 2015, all that reversed again. Congress abandoned even modest attempts to control discretionary spending growth. At the same time, it cut taxes in 2013, 2015, 2017, and 2019—reducing federal revenues by a combined amount of nearly $7 trillion over the 10 year window following passage of each of the bills.

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President Trump raised tariffs on goods imported from China. The Chinese government responded by imposing new import taxes on US agricultural products such as soybeans. To help mollify the farmers who lost sales to China, Trump opened the federal trough and gave them $28 billion in cash payments and other subsidies. According to one analysis, just 82 agribusinesses got more than half the money.

So far, runaway full-employment budget deficits have had little impact on interest rates that remain at historically low levels. But those borrowing costs won’t stay low forever. Nor will the economy grow forever

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