What seems to be accurate about the report is that the exorbitant tariffs on China were about to cause broad damage to US businesses - particularly smaller enterprises absolutely dependent on a Chinese supply chain and create a huge Covid-like store shelf calamity for the VOTING public. As in any cost scenario, that inconvenience would be most felt by working class Americans. Many of you seem to feel like you have far more expertise on the Chinese economy than me, but this feels more like some sort of self-inflicted mutual economic and political suicide pact to achieve the status quo and talks. I wonder if a nice invitation on Whitehouse letterhead might have been any less effective.
Second, I think anyone can now see that the revenue generating aspect of the tariff plan was never real. I am not sure whether Trump thought it was, but if he did, that is really worrisome. I think I would have been more comfortable having been lied to about it. My sense is that the only person with a real grip on what is actually happening is Scott Bessent. I pray Trump doesn't get frustrated with what are likely uncomfortable periodic chats with him.
Finally, it seems ever more apparent that there is zero intent to cut spending and draw down the national debt. The effect on debt of the Big Beautiful Bill seems to pretty much mirror Biden's two major bills in that respect. Even the folks over at CFP, RedState, and Breitbart seem to be getting concerned. Moreover, support for the agenda is getting wobbly on the Hill.
This was published in the Wall Street Journal today. Ron Johnson is not exactly a leftist democrat.
What I believe would benefit people like me is some sense of coherence emerging with all the late night blather from the president. I do not understand his intent, I do not understand his strategy, and certainly do not have blind faith in him.