It is no surprise that President Trump has thrown yet another tantrum and has imposed even stiffer tariffs on Chinese products. It is disgraceful, but also not surprising, that Trump has called Fed Chair Powell a bigger enemy to the U.S. than China’s President Xi Jinping. How ironic that the “huge tax break” Trump takes credit for (an average of $400 to $1,800 annually for middle class citizens) will be erased by the added costs from these tariffs to consumers, estimated by J.P. Morgan to be around $1,000 annually to the average household. In addition, the budget deficits resulting from the Tax Cuts and Jobs Act are significantly compounded by the deficits caused by the trade war.
One does not need to be a trained economist to understand that trillions in deficit spending do not strengthen our economy. Will it take a major downturn (crash?) in the U.S. and the global economies before clearer heads prevail in Washington, D.C., and elected leaders finally stand up to our foolish, ignorant and dangerous leader? The “Bully in Chief” is determined to get what he wants or else, but either does not understand or does not care that “his way” is systematically destroying our great country. Fortunately, there are growing numbers of citizens who know that Trump has no business being in the White House, and I am looking forward to seeing the surprise on President Trump's face when he loses the 2020 election.
David George, Bakersfield