JM Rieger @RiegerReport Video Editor, The Washington Post • [email protected] Nov. 28, 2018 1 min read

My latest for @thefix:

President Trump last month directed advisers to craft a plan to reduce the federal deficit, even as he has relied in part on increased deficit spending to boost the economy.

 https://www.washingtonpost.com/politics/2018/11/27/inconsequential-illegal-all-ways-president-trump-has-suggested-cutting-deficit/?utm_term=.82f1de4701e2 

Over the past 8 years, Trump has floated no fewer than 14 proposals — ranging from inconsequential to illegal — to pay off the debt.

And as Trump has told aides to reduce deficits, he has floated proposals that would expand them.

 https://www.washingtonpost.com/politics/2018/11/27/inconsequential-illegal-all-ways-president-trump-has-suggested-cutting-deficit/?utm_term=.82f1de4701e2 

Trump also falsely believes reducing trade deficits will help reduce the federal deficit.

Trump last month on this:

“It’s literally first grade business, it’s so simple.”

 https://www.washingtonpost.com/politics/2018/11/27/inconsequential-illegal-all-ways-president-trump-has-suggested-cutting-deficit/?utm_term=.82f1de4701e2 

Trump has said his policies would help the stock market rise and trade deficits fall.

So far this year, the opposite has happened:

The trade deficit is at its highest level in a decade and the stock market has wiped out all gains for 2018.

 https://www.washingtonpost.com/business/2018/12/06/trumps-two-favorite-metrics-economy-are-both-failing-him/?utm_term=.fefd83e1cd50 

The Commerce Department said Wednesday that — despite more than two years of President Trump’s “America First” policies — the United States last year posted a $891.2 billion merchandise trade deficit, the largest in the nation’s 243-year history.

 https://www.washingtonpost.com/business/economy/trump-promised-to-shrink-the-trade-deficit-instead-it-exploded/2019/03/05/35d3b1e0-3f8f-11e9-a0d3-1210e58a94cf_story.html?noredirect=on&utm_term=.31f4fee5ce93 

The trade gap with China also hit a record $419 billion.

“Economists say the trade deficit is swelling because of broad economic forces, including [rising debt] that was exacerbated by last year’s $1.5 trillion corporate and personal income tax cut.”

 https://www.washingtonpost.com/business/economy/trump-promised-to-shrink-the-trade-deficit-instead-it-exploded/2019/03/05/35d3b1e0-3f8f-11e9-a0d3-1210e58a94cf_story.html?noredirect=on&utm_term=.31f4fee5ce93 

Trump on tariffs at CPAC last weekend:

“Billions of dollars, right now, are pouring into our Treasury.”

 https://www.washingtonpost.com/business/economy/trump-promised-to-shrink-the-trade-deficit-instead-it-exploded/2019/03/05/35d3b1e0-3f8f-11e9-a0d3-1210e58a94cf_story.html?noredirect=on&utm_term=.31f4fee5ce93 

The U.S. trade deficits with Mexico and China have *increased* by billions of dollars during Trump’s presidency.  https://www.washingtonpost.com/politics/2019/03/06/not-only-did-trade-deficit-increase-it-increased-exactly-where-trump-said-it-wouldnt/?noredirect=on&utm_term=.7cbf54ca1ebd 

On May 10, Trump raised tariffs on $200 billion worth of Chinese goods from 10% to 25%.

On Wednesday, the Commerce Department said the trade deficit in goods and services increased by 8.4% in May to $55.52 billion.

 https://www.wsj.com/articles/u-s-trade-gap-widened-sharply-in-may-11562157465?mod=hp_lista_pos5 

This week, Trump said the U.S. would impose a 10 percent tariff on an additional $300 billion of Chinese goods starting Sept. 1.

For the first six months of 2019, the U.S. trade deficit rose 8 percent from the same period in 2018 to $316.3 billion.

 https://www.washingtonpost.com/world/asia_pacific/china-warns-of-retaliatory-measures-after-trump-threatens-new-tariffs/2019/08/02/9623728c-b4fc-11e9-acc8-1d847bacca73_story.html?utm_term=.c02430c7b426 


You can follow @RiegerReport.



Bookmark

____
Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Threader is an independent project created by only two developers. The site gets 500,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Running this space is expensive and time consuming. If you find Threader useful, please consider supporting us to make it a sustainable project.