Trump claims tariffs would be enough to pay down the national debt. In practice, it's like trying to cover the mortgage on a california home with what you make selling your used bike on Craigslist. While startups raise millions in Palo Alto, families in Ohio and Texas juggle credit cards just to make rent. The gap between political narrative and economic reality has never been clearer.
• National debt 2023: $32.7 trillion
• Tariff revenue 2023: $90 billion
•Proportion: Tariffs cover just 0.27% of the debt.
Is this American resilience trusting that growth and tech innovation will always fill the gaps or a mirage leading us straight into another fiscal crisis? Some will argue Silicon Valley and Wall Street generate value no tariff could ever match. Others warn that living on debt while downplaying the fiscal burden is playing
Source:
https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/
https://fiscaldata.treasury.gov/datasets/monthly-statement-public-debt/
https://fiscaldata.treasury.gov/datasets/monthly-treasury-statement/
https://i.redd.it/xfd4tb40usjf1.jpeg
Posted by kelcazone
24 Comments
Trumps solution will be to raise the tariffs.
37 trillion in debt not 32.7 trillion
It doesn’t. But Republicans like to use the term “magic math”, which means they ignore the actual numbers and pretend it works and tell everyone they solved the problem when in all actuality the problem is now worse.
GOP talking points for the Gullible.
If you want this remedied, you have to remove the Billionaires from power.
There is no other option.
It is not supposed to, it’s supposed to distract us from the Epstein Files.
Well this is a guy who bankrupted six companies.
Am I allowed to ask if all those that seem concerned about the debt were also worried a year ago when Biden was prez?
Through lying.
The debt will continue, any body saying otherwise is just paying lip service in order to get elected. At this point, the debt is not even important, what is important is ensuring that the USA has the most powerful economy in the world and growth continues at a steady rate. If the economy contracts long-term, the show is over and the country will collapse within itself.
Math is hard. There are 1000 billions in 1 trillion.
So assuming no interest (wrong) and no added debt (unlikely), it will take us 355 years to pay off our debt with $90B tariff revenue.
Its all a rouse
This math is kinda like how when Bezos sold a house in Medina WA for $65 million and people are like, “wow, that’s a lot.”
But Bezos is so rich that, assuming he makes no interest on his money, he could buy that house every year for…3846 years.
Math was never Trump’s strong point. That’s why he bankrupted casinos. Casinos – a business that is super easy to make money in! Not sure how he ever got into Wharton.
You just don’t understand idiot math.
Uh, because MAGA are terrible at math?
US gov’t/public debt is an asset to who?
Paying it down decreases who’s assets or net wealth?
I just hope they know what they are doing. That they have a good goal for USA and not just for the wealthy.
I’d bet they’re going to grift that money into crypto. No way Trump is gonna let this go back into the govt without trying to pocket it.
100% in ULTY covered call ETFs.
It’s like republic zealots never once opened up an economics book.
He says in interviews and press briefings that tariffs are bringing in “trillions” of dollars, but I don’t see how that is possible? Am I missing something here?
Here is something that will blow you of your Chair. IT CAN’T!
Why can’t it, because Dump is a Moron who talks out of his ass, with 0 clue what he is talking about. Billions, Trillions, you could also use Bananas and Apples, he doesn’t know where the f-ing difference is. How could he, his brain is smoother then that of a damn koala Bear. It’s not his fault. He didn’t put himself in that Office, the American public did! don’t hate the Player, hate the Game. Democracy was a mistake. There are toooooooo many Stupid people on this Planet. We should do a Thanos and cut the Human population in half. And even then, we should make sure that only people with the necessary mental tools are able to vote.
The truth is they don’t think anyone will make them honor their debts because they have the strongest military, the international reserve currency and the most capable nukes. They also have Silicon Valley which means they control the internet if they really want to, at least for a little while.
If push comes to shove then they will pull those levers to avoid a margin call.