In today’s Times, Jim Tankersly and Ana Swanson describe how, since January 20, 2017, our nation’s trade deficit has grown from $70 Billion in 2017 to $891 Billion today, as duly reported by Donald Trump’s Commerce Department. Their article is entitled “In Blow to Trump, America’s Trade Deficit in Goods Hits Record $891 Billion."
Trump’s $1.5 Trillion tax cut, which didn’t help the poor or the middle class at all, is one of the biggest factors.
In their article, Tankersly and Swanson tell us that to finance Trump’s tax cut, his Treasury Department had to borrow heavily, and they explain that Trump’s unorthodox approach to economics has no rational basis.
So we consulted leading economist and associate solitary reporter Ted Patterson, a keen observer of human nature, who reminded us that under President Clinton, we had a budget surplus in 1998, before Al Gore lost to Bush Two by one vote in the Supreme Court.
ASR Patterson also commented that in addition to Trump’s obvious psychological deficits, Trump’s ballooned deficit poses a dire threat to our national security.