Trump's trade war bailout could force the U.S. to borrow more from...

Jul 2017
7,657
8,344
U.S.A.
#1
China.
Yes people. We live in #BizzaroWorld.

Trump's trade war bailout could force the U.S. to borrow more from China — to maintain Trump's trade war with China

Few have suffered more from Trump’s approach than the country’s agricultural sector. Already forced to pay more for the equipment they use as a result of increased tariffs on imported metals, they must now contend with reduced export opportunities as foreign retaliatory measures take effect. This is no small matter, with U.S. farmers exporting more than 20 percent of what they produce. Canada, China and Mexico, the top three destinations for American harvests, have all imposed tariffs on U.S. agricultural goods in response to Trump’s actions. China, which alone purchases 30 percent of all U.S. soybean production, has slapped a 25 percent tariff on the product.
China also figures into the trade war in another way. Given the country’s appetite for Treasury securities, we can almost rest assured that Chinese money will be used to help fund the farm bailout should additional borrowing be needed. That is to say, the United States could find itself tapping China to help fund a trade war that is largely aimed at the very same country.
 
Jul 2017
7,657
8,344
U.S.A.
#3
Hopefully it's not as bad as it was under Obama.

He set all the records for debt and borrowing, ya know...
Trump will try and best him on that, I'm sure... just for spite.
He's well on his way.

HOW MUCH HIGHER ARE TRUMP’S BUDGET DEFICITS THAN OBAMA’S?
The U.S. federal deficit for July totalled $76.9 billion, pushing the total figure for the first 10 months of the fiscal year to $684 billion—up almost 21 percent on this time in 2017.
A combination of increased spending and reduced tax intake have conspired to push the deficit higher, with President Donald Trump’s administration now estimating that the total figure will top $1 trillion in 2019, CBS News reported.
Trump vowed to cut the deficit when running for president in 2016, regularly bashing Barack Obama’s economic policies that saw the shortfall swell to well above $1 trillion during his time in office. He even promised to wipe out the national debt, though offered no suggestion of how that might be achieved. But now that he is in the Oval Office, the president seems less worried about the runaway numbers.
 
Likes: Friday13

Blueneck

Former Staff
Jun 2007
52,779
38,724
Ohio
#6
He just might do that.

But, right now, Obama is the all time champion of borrowing and driving up the national debt.

And, it's not even close...
You know that's not true, but you keep repeating it. Just to be a dick. And because you're safe behind your keyboard where being an ass for shits and giggles holds no real world consequences.

It takes a lot more guts to tell the truth to someone's face than it does to lie about them from the safety and comfort of your La-Z-boy.
 
Likes: Friday13
Jul 2014
33,765
8,719
midwest
#7
If you are willing to lie just to piss people off, you're probably one of those dregs Joe Biden was talking about.
Did Crazy Joe stick his foot in his mouth again?

Oh well, no surprise at whatever crazy things he says.

He has quite the track record ya know...
 
Jul 2014
33,765
8,719
midwest
#8
You know that's not true, but you keep repeating it. Just to be a dick. And because you're safe behind your keyboard where being an ass for shits and giggles holds no real world consequences.

It takes a lot more guts to tell the truth to someone's face than it does to lie about them from the safety and comfort of your La-Z-boy.
Oh, it be true, all right.

I understand why you may not want to admit it, though...
 
Jan 2016
46,304
42,202
Colorado
#9
Hopefully it's not as bad as it was under Obama.

He set all the records for debt and borrowing, ya know...
Um, listen up, pal: The TRADE DEFICIT is worse under Trump than it EVER was under Obama. You know, the trade deficit that your President Trump promised to FIX?!? Have you forgotten about that? It is higher today than at any time since 2008. That was BEFORE Obama took office, see??

Oh, you probably don't 'see'......
 
Likes: Friday13
Apr 2015
12,885
2,198
Katmandu
#10
If you are willing to lie just to piss people off, you're probably one of those dregs Joe Biden was talking about.
In 2016 Obama added $1.4 trillion to the national debt.
In 2017 Trump added $0.67 trillion to the national debt.
In 2018 Trump will at ~$1 trillion to the national debt.

How is that worse?

Even with the tax cuts federal tax revenues are up, if Congress had held spending to the 2017 level the amount we needed to borrow would have actually dropped in 2018.