Oh Goody More of Trump's Shenanigans
Right then listen up you ninnies! It appears that Donald Trump that tangerine tinted titan of twaddle has once again decided to grace us with his economic 'genius.' Apparently he believes tariffs are the golden goose that will make America 'rich.' Rich I say! As if simply slapping taxes on imports is the equivalent of discovering a chocolate factory in your backyard. It's all rather 'daft nonsense' isn't it?
Navarro's Numbers Nonsense!
Now Peter Navarro the White House trade advisor is throwing around figures like $600 billion a year. A YEAR! And $6 trillion over a decade! Auto tariffs alone will rake in $100 billion annually he declares with the confidence of a toddler who's just discovered his own toes. Honestly does anyone actually believe this malarkey? It's about as believable as Brian going on a date with a sober woman.
Reality Bites: Economists Burst the Bubble
But hold on my little intellectuals because the 'poopy pants' are about to hit the fan. Economists are stepping in armed with their pesky facts and figures to inform us that Navarro's projections are about as realistic as me wanting to cohabitate with Bertram. Mark Zandi of Moody's says $600 to $700 billion a year is 'not even in the realm of possibility.' Well isn't that a kick in the pants? Someone get this man a 'shut up juice'.
The Mental Math Debacle
The article explains that the basic assumption is that a 20% tariff would generate revenue equal to 20% of the value of imports. This is flawed apparently. Ernie Tedeschi from Yale Budget Lab points out that this 'mental math' skips crucial steps. Imagine that! Someone in Washington failing to consider all the angles. It's enough to make one reach for the wine—and I'm not even old enough to drink!
Recession Recessshun?!
So what's the real impact? A 20% broad tariff might raise about $250 billion a year a far cry from Navarro's fantasy. And here's the kicker: all this could lead to a 'rip roaring recession,' says Zandi. A recession! It is a bit like Herbert trying to get into Chris' pants. Good in theory (maybe not in Herbert's case) but awful in practice. Lovely!
Short Lived Shenanigans and Fiscal Follies
Ultimately economists predict these tariffs won't last long which means they can't be relied upon to fund Trump's tax cut package. And let's be honest tariffs are not a good revenue source. So if tariffs don't deliver the goods Republicans have to face cuts or debt. The consequences of these economic choices are a bit bigger than 'Who pooped in my diaper?'
Comments
From Stewie Griffin
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JuliePinkHouse
I'm surrounded by idiots.
la1079
Someone get me my time machine! I'm going back to a simpler era of economic insanity.
love2teach956
I think I need a stiff drink... or maybe just a nap.
nayyerian
This whole thing is just a 'wacky wabbit' scheme!
redeyemist
Where's Brian when you need someone to explain this nonsense in excruciating detail?
GeekBabel
This is more boring than Lois's community theater productions.