The notion that tariffs are going to replace it is just silly sauce.
If we put a 60% tariff on China and we got away with it, they didn't retaliate, we'd probably get $100 billion a year out of tops.
Extending the tax cut is going to cost about $300 billion a year, $350 billion a year.
That's about the limit we could do.
That would give us the kind of deficit we had in 2024.
In 2025, the deficit is going to be a bit smaller as a percentage of GDP, because the economy has been growing so rapidly that it could get away with that.
But that's about the limit.
One of the things to also recognize, and I want to leave as a parting thought, is that Joe Biden will tell you differently.
Donald Trump bequeathed to Joe Biden a very good and strong economy.
COVID required us to shut it down.
It was running like an Olympic athlete during Donald Trump's time.
It was growing at 2.8 percent a year.
When it woke up from COVID, it woke up like a prize fighter.
For the last eight years, the U.S. economy has been accomplishing annualized growth at 2.8 percent.
That is light years above what Bush and Obama accomplished.
The U.S. economy is going gangbusters.
This is not a time to mess with this well-oiled machine.
Brianna Mauricio of the University of Maryland, business professor Emeredis.
He writes a regular column on several fronts.
Thanks for your time.
Thank you for having me.
CBS and a recent story of theirs looks at the overall reason the president-elect wants to use these tariffs against these other countries.
They write in a recent story that the president-elect is an avowed fan of tariffs.
He's pledging to enact stiff import duties as soon as he's inaugurated in January.
For Mr. Trump, these new levies would both supercharge the trade policies pursued during his first administration and more broadly help the U.S. achieve key economic and social goals.
To that last part of economic and social goals, the president-elect laid out those thoughts in recent posts on Truth Social.
Here's a portion of them, one concerning Mexico and Canada, saying this, as everyone is aware, thousands of people are pouring through those countries, bringing crime and drugs at levels never seen before.
He goes on to say, as of January 20th, one of my many first executive orders, I will sign all necessary documents to charge Mexico and Canada a 25 percent tariff on all products coming into the United States and its ridiculous open borders.
This tariff will remain in effect until such time as drugs and particular fentanyl and all illegal aliens stop this invasion of our country.
Both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem.
That's one of that.
When it comes to Mexico and Canada, it was more recently that the president-elect said that he plans to put more tariffs on other countries, BRIC countries, Brazil, Russia, and other countries.
He wrote this in that recent post saying the idea that these BRIC countries are trying to move away from the dollar while we stand by and watch is over.
We require a commitment from these countries that they will neither create new BRICS currencies nor back any other currencies to replace the mighty U.S. dollar, or they will face 100% tariffs and should expect to say goodbye to selling to the wonderful U.S. economy.
That's just some of the president's thinking when it comes to the use of these tariffs.
What do you think of this idea of the president-elect's when it comes to those use against those countries?
If that's something you support, you say yes to that 202-748-8000.
If you say, no, you don't support it, 202-748-8001, perhaps you're not sure, you can give us your thoughts there too.
202-748-8002.
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It was recently that the President talked.
U.S. House returning from recess this afternoon to consider several pieces of judicial and natural resources legislation, including a measure to prevent conditional lawsuits of U.S. companies.
Today, members could also vote on whether to release the Ethics Committee's report on former Florida Republican Congressman Matt Gates.