Breitbart– The Congressional Budget Office (CBO) projects that recent U.S. tariff increases will reduce federal deficits by $2.8 trillion over the next decade, primarily through increased customs revenue and lower interest payments on federal debt—more than enough to offset the projected cost of President Donald Trump’s proposed tax cut bill.
In a separate analysis, the CBO recently estimated that extending the 2017 tax cuts, as proposed in the administration’s new tax and spending bill, would increase the deficit by roughly $2.4 trillion over the same period. That legislation would reduce federal revenues by $3.67 trillion while cutting spending by $1.25 trillion, resulting in a net increase in the federal deficit. more
I don’t buy it. More than likely the CBO is projecting savings from tariffs that will change in a week. The BBB has an increased deficit ceiling of $5T which means our government WILL spend $5T more when all is said and done.
Higher prices will reduce sales…and tariff revenues. Seriously, this is why our economy is in the toilet…a clear ignorance of human behavior and basic economics.
“Our economy is in the toilet “? Maybe what ever hick state you live in, mines booming. Things ramped so fast we’re facing material shortages daily.