Tariffs - the most beautiful word in the dictionary

It quickly went from $2tn to $1tn, and then recently to $150bn, of which only $60bn or so has receipts, and which is itself still full of mistakes, and counting of things actually done by Biden.

Market manipulation, plain and simple. He has a private meeting with major market investors, behind closed doors, no public presence, no media, after which the market rallies significantly. Those who weren't the insiders wondered what was going on, and then Trump announces, later in the day, that he thinks the tariffs on China (that he implemented) are too high and will end up lower etc.
So anyone not part of his group of insiders had to wait for the official announcement, by which time the insiders had already benefitted.
Market manipulation. Trump rocking the market up and down for his already-rich chums to benefit.

As said previously, he's dug a huge hole for himself. The only question is whether any Republicans will assist the Dems in burying him in it.
By reducing tariffs he is scuppering his own budget, and risking the ballooning of the anticipated increase in national debt of c.$4-5tn by that shortfall in tariff receipts. Not to mention the lack of cuts in spending thus far, although I note that while the House bill mentioned $1.5tn in cuts to spending, the budget passed by the Senate only stipulated $4bn as a minimum. The "reconciliation" that Trump eventually signs will, I'm sure, need to be closer to the $1.5tn... which so far DOGE have laughingly been inept at finding, despite all their bluster at the start.
On your budget point, he has ensured there will now be a persistent “moron premium” on US Treasury bonds, which will increase the cost of servicing the debt, thereby cratering the budget even more. A lot of market commentators have said the economic competence of this bunch is in considerable doubt. That doubt won’t go away even if they wind in the whole tariff strategy. A straight replay of the Trussterfuck.
 
It quickly went from $2tn to $1tn, and then recently to $150bn, of which only $60bn or so has receipts, and which is itself still full of mistakes, and counting of things actually done by Biden.
It's far worse than that.

A New York Times reporter went through DOGE's "wall of receipts" to try to verify the amounts. The wall of recepits didn't have much info; just the name of the agency and the amount of the "savings." But they looked at the raw HTML of the web page and found some more data, specifically the grant number, which allows you to check to see what the original amounts were. Then they called the people who actually got the money.

The biggest one on the list was $1.75 billion. But when they called the agency that received that grant, they said that they had already received and spent the money. So actual savings of zero, even if DOGE claimed they "cancelled" the grant.

They looked at several others in the top 20. And every time they could track down the amount saved it was wrong. One grant listed a "ceiling" of $83 million. But that's not what the grant was for; that was the highest amount the grant could possibly be. The actual amount authorized by the grant was $1.5 million and they had already received $800K. So the actual savings was $700K even if the grant was really cancelled.

From the list of grants they could track down, the real savings averaged 2.6% of the claimed savings. So the claimed savings of $155 billion is likely closer to $4 billion - a savings of $25 per taxpayer.

When the NYT reporter asked DOGE about this their response was swift - they removed all the HTML data from the site so nothing could be checked.

Now any savings is good, right? So even if they saved a tiny fraction of what they claimed, it is overall a good thing. Right?

The IRS estimates that the cuts DOGE made will reduce tax income by $500 billion, due primarily to cuts to tax cheat enforcement. There are a great many crooked CPA's that know exactly how to cheat in ways that are hard to detect, and that cheating is now risk-free since there is no review and/or enforcement of such scams. Internet discussions have indicated that there will be a lot of that this year, since the IRS now has barely enough staff to even process returns; there are no extra to actually check anything.

So overall we will be losing hundreds of billions.

But is even the $4 billion savings supported by actual spending numbers? Compared to this month last year, we are spending $120 billion more per month.

Remarkable level of dishonesty here.

https://www.gelliottmorris.com/p/doge-is-not-cutting-spending


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I hope the cuts to not extend to this https://phys.org/news/2025-04-webb-telescope-incredible-discoveries-dark.html

".. like so much of the country's ongoing scientific research, Webb is at risk of being defunded.

President Donald Trump's administration has removed NASA's top scientist and proposed a nearly 50% budget cut to the agency's Science Mission Directorate, which oversees planetary science, astrophysics research and more.

The White House reportedly is pushing to scrap the Nancy Grace Roman Space Telescope, a wide-view instrument undergoing final testing and assembly that is scheduled for launch within two years. Next-generation satellites meant to improve human understanding of the planet are on the chopping block as well."
 
We also have outstanding scientists fleeing specific states, like Florida, due to their work being defunded if its findings aren't acceptable to Far Right ideology.

(scroll down to the last profile, the marine biologist and climatologist)


Dark ages, my friends.
 
trump doesn't care about small business . A few days ago a reporter asked him about small business . In his white house scrum . With reporters . He didn't care .
That is a problem .
small business is the fundamental driver of employment . Not big corporations .
 
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Breaking News: US negative growth for 1Q25 has NOTHING to do with tariffs, or with anything Trump has done.
So sayeth Donald Trump, the most stable genius ever.

We have been told.
It must be true.
No disagreements will be tolerated.

:rolleyes:
 
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