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Monday, May 27th, 2019

Trump proposes $16B in taxpayer money to finance trade war he claimed was making us rich

Author:     Philip Klein
Source:     Washington Examiner
Publication Date:     May 23, 2019 04:08 PM
 Link: Trump proposes $16B in taxpayer money to finance trade war he claimed was making us rich
Stephan:   Remember when Democrat Bill Clinton balanced the budget and the federal deficit was eliminated? In contrast, even rightwing journalists, like those with the Washington Examiner, are beginning to see the reality of Trump's lies about trade and the deficit. The U.S. national debt as of April 4, 2019 was $22.03 trillion, a number so large most people could not write it as a number.   Between the failed trade policies and climate disasters, American farmers have entered a period of massive crisis, and you and I are now subsidizing them because of Trump's incompetence in business, and unwillingness to accept that climate change is real.

Flooded silos spill the grain the contained
Credit: Reuters

The Trump administration on Thursday announced plans to offer $16 billionto farmers who were suffering losses as a result of President Trump’s failing trade war with China, which he once claimed was making the United States rich by bringing in tariff revenue.

Trump authorized the Department of Agriculture to spend up to $16 billion on “trade mitigation programs” to compensate farmers for losses stemming from China’s retaliatory tariffs.

Yet, Trump has consistently boasted about how successful his trade war would be in making the U.S. wealthier.

“Billions of Dollars are pouring into the coffers of the U.S.A. because of the Tariffs being charged to China, and there is a long way to go,” Trump wrote on Twitter last November. “If companies don’t want to pay Tariffs, build in the U.S.A. Otherwise, lets just make our Country richer than ever before!”

This is just one of many times in which he’s lied about the effects of tariffs, even arguing that […]

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2 Comments

  1. Rev. Dean on Monday, May 27, 2019 at 6:24 am

    Frankly, I hate Bill Clinton: you know he stole money from the Social Security trust fund to balance the budget, and he threw people off welfare to get money to balance the budget, Not to mention his stupid Nafta trade agreement which sent our jobs oversees. Clinton was the “best Republican the Democrats ever had” was the catch phrase most of us true Democrats had for him. He was just another Capitalist PIG and I hate him almost as much as Trump. He is the reason his wife could never win with Democratic votes.

  2. Tom N on Monday, May 27, 2019 at 8:19 pm

    When President Obama was elected the US national debt was approximately $10 trillion, and when he left eight years later it was approximately $20 trillion. Candidate Obama promised fiscal responsibility, and President Obama delivered just the opposite. In Trumps first year the national debt increased another $1 trillion. But that increase too was part of Obama’s last budget, not anything Trump proposed. We have yet to see if President Trump’s policies or budget proposals will reduce the national debt. To be fair it is congress that appropriates and spends the money. And I believe that when President Clinton “balanced” the budget it was Republicans controlled Congress.