When it comes to the trade deficit, policy wonks were right and the president was wrong.
Eric Boehm"Tariffs on Chinese imports may be reducing our bilateral trade deficit with China, but that doesn't mean Americans are buying from U.S. producers instead. Instead, places like Vietnam, Mexico, and Malaysia are picking up the slack." -- @veroderugy
And whether it balances at all depends on some creative accounting. Meanwhile, it proposes $2 billion in new spending on the border wall.
Eric BoehmTrump's budget proposal assumes 3 percent annual growth for the next decade. That's a figure that hasn't been achieved since the Bush administration, and one that far exceeds the CBO's estimate of 1.7 percent annual growth over the next decade.
Eric BoehmThe national debt is a Parasite on economic growth.
Donald Trump is a Joker if he thinks 3 percent growth forever is realistic.
Once Upon A Time...In Washington, Republicans actually cared about balancing the budget.
Their bill won’t pass the Senate, but it tells us what’s coming the next time they’re in charge.
Eric Boehm"These fruitless exercises do give us a sense of what the parties will do when next they seize power.... In short, this is an aggressive bill that doubles down on the coercive unionization system the U.S. already has in place." -- @RAVerBruggen
"This committee is not a court, nor is it a jury," Sen. Howard Baker (R–Tenn.) informed millions of television viewers
Eric Boehm"Trump's jokes...often depend on collective negative generalizations and logic that wouldn't pass muster in a middle school debate class. By copying his language, interesting thinkers run the risk of dumbing themselves and America down." -- @MattWelch