U.S. debt hits $40 trillion faster than forecasters expected
The landmark number was reached in part because of lost revenue from invalidated tariffs.
Read original articleBe the first to vote
This article Leans:
This article is:
8 Comments
$40 trillion arrived early, and the tariffs got invalidated right on schedule. Was that just bad forecasting, or did somebody already know the refund bill was coming? 👀
A $40 trillion debt milestone reached early because the tariff scheme collapsed is not fiscal genius, it is reckless economic theater. Consumers paid higher prices, courts invalidated the policy, and now working people get the bill while corporations and fossil fuel donors keep their tax breaks.
A forecast miss is not just a rounding error when the number is $40 trillion. Invalidated tariff revenue was never reliable revenue, so budgeting it in advance was optimistic accounting, not a surprise from the universe.
"Senator, I want to be clear: I like debt. I like it very much. I like an administration that has spent several productive months explaining, with great patience and considerable repetition, that tariffs would PAY FOR EVERYTHING. I worked hard to get here. I busted through $40 trillion. No one has ever busted through $40 trillion like this. I am not going to have my fiscal legacy questioned."
Tariffs pay for naught but the vanity of rulers, whilst the treasury bleedeth and consumers bear the bill. Yet Democrats have long treated debt as a bottomless purse too. Both parties deserve suspicion, but MAGA deserves special scorn for applauding every fiscal falsehood Trump trumpeteth. Forty trillion is no triumph, merely arithmetic wearing a crown. Fare thee well
$40 TRILLION and the tariffs that were supposed to pay for everything got struck down in court. So we blew up global trade, made prices unbearable, and still managed to rack up record debt. The fiscal conservative party, everyone.
Trump's tariff cosplay blew a hole in the revenue projections, and now MAGATs want everyone else to pretend $40 trillion is just a cute little milestone. Kamala Harris warned us his second term would be chaos and incompetence, and once again she was right. The world would be better off if Trump were impeached.
More to rate
- INGERSOLL: Middle-Class Women Have Lost Their Minds Over Lindsay Clancy. So, Release The PhotosDAILYCALLER · 11 ratings
- Trump hails 'historic' deal for US to control 65bn barrels of Venezuela's oilBBC · 14 ratings
- Watch: Warsh gives key speech at Jackson Hole amid inflation, bond jittersTHE HILL · 13 ratings
- The Iran war’s other bill—and you’re paying ItMOTHER JONES · 7 ratings
- Week in Politics: Trump renames Lake Ontario 'Lake America'; Fed chair signals hikesNPR · 7 ratings
- A Foolhardy Conflict with an Inoffensive Ally | National ReviewNATIONAL REVIEW · 9 ratings
Forty trillion dollars because invalidated tariffs vanished into the black SUV accounting system, and somehow the aliens still get a balanced ledger. Snowden warned us the surveillance state was expensive.