Blithering idiot man baby fucks up on trade AGAIN

https://www.vox.com/world/2017/6/30/...rea-trade-debt]

Trump just made a humiliating economic error in front of South Korea’s president
And trade was supposed to be Trump’s sweet spot.


President Trump just used a White House meeting with South Korean President Moon Jae-in to complain about the US–South Korean trade deficit, a perennial Trump talking point. The problem is that what he said isn’t true.

Here’s what Trump said while sitting across the table from Moon, who was elected in May after a scandal led to the arrest of his predecessor:

The United States has trade deficits with many, many countries, and we cannot allow that to continue ... with South Korea right now, but we cannot allow that to continue. This is really a statement that I make about all trade: For many, many years the United States has suffered through massive trade deficits; that’s why we have $20 trillion in debt.
The president’s distaste for trade deficits with any country is not news, but that last sentence is striking — Trump is claiming that trade deficits are at the root of the national debt.

That is a creative explanation — and an incorrect one.

Let’s step back and clarify some terms. The US trade deficit refers to the fact that the US imports more from the world than it exports. The national debt is the result of the fact that the US government spends more revenue than it collects. While the trade deficit does have second and third-order effects on debt, there’s no direct relationship between the two.

Running a trade surplus — that is, exporting more to the rest of the world than you import from it — is no defense against incurring debt, which has to do with how much the government spends compared with how much it takes in from taxes.

“It would be easy to imagine a country with a trade surplus that ran large budget deficits — that's clearly happened in the past,” Josh Bivens, the director of research at the Economic Policy Institute, told me. “My guess that right now Germany has a small budget deficit even though they're running big trade surpluses.”

Major events in recent history have made it difficult to resolve the mismatch between how much money the government raises and how much it spends.

“A big chunk of the national debt was incurred because of the economic crisis,” Bivens explains. “As the economy just cratered in 2008, 2009, and 2010, tax collection just cratered along with it, and [then with spending on] automatic stabilizers like unemployment insurance, food stamps, and some legislation like the Recovery Act, there was a large increase in the national debt over those years.”

The accumulation of debt isn’t just something that happens to the economy — it’s also the product of policy decisions. Prior to the Great Recession, US debt skyrocketed because President George W. Bush implemented huge tax cuts for the rich while spending trillions of dollars on the Iraq and Afghanistan wars.

The simplest way to reduce the national debt would be to close tax loopholes on income for corporations and the super wealthy. But right now Trump and his party are looking to do just the opposite — they want more cuts for the rich through both health care legislation and comprehensive tax reform.

Fake News!

Asswipe doesn't understand what he posts. And he calls a billionaire who won the Presidency in his first try for any public office. The only track record Asswipe has is that he's a cockstalking, cocksucking pig. And a fucking stupid pig.

He's still devastated by his failure to get his OLD WORNOUT HAG with a Predator Husband elected to the White House so they could bribe a bunch of other people for Chelsea's War Chest....and rent out the Lincoln Room for their slush fund.

Trump’s sweet spot. Originally Posted by Yssup Rider

The author was doing ok until he showed his true colors at the end. He tells us Republican spending deficits are due to "policy decisions" but under Democrats they are due to exogenous events like the "economic crisis". Lol - as if passing the Recovery Act or relaxing the rules for SS disability and food stamps were not "policy decisions"!

Anyone notice how whenever the dims want to raise taxes it's to curtail the deficit, but whenever Republicans try to roll back those same tax increases it's a "giveaway for the rich"?

LMAO @ lemming dipshits.

Anyone notice .... Originally Posted by lustylad

Yes! And they expressed their recognition in 2016 ...

... will again in 2018 .... and again in 2020.

Assup will still be blubbering like Schumer!

Anyone notice how whenever the dims want to raise taxes it's to curtail the deficit, but whenever Republicans try to roll back those same tax increases it's a "giveaway for the rich"? Originally Posted by lustylad

It can be both , not that you're capable of understanding such complex issues.

LMAO @ lemming dipshits. Originally Posted by Yssup Rider

From where I am sitting you bought into a crock of shit from a bogus article. Then you tried to sell this bullshit to members of this board. They apparently know a lot more than you and they shoved it up your Zionist ass sideways, lol.


Jim

They apparently know a lot more than you .....
Jim Originally Posted by Mr MojoRisin

The moss covered rocks in Barton's Creek "know a lot more than" he does!

From where I am sitting you bought into a crock of shit from a bogus article. Then you tried to sell this bullshit to members of this board. They apparently know a lot more than you and they shoved it up your Zionist ass sideways, lol.


Jim Originally Posted by Mr MojoRisin

exactly. VOX is a lib rag to the max. maybe even more than the Huffrag post. yo asshole rider .. you ever notice none of these liberal mouthpieces have a comments section? they couldn't afford the IT staff and resources to keep their servers up while also deleting all the posts they don't agree with.

DICKLER

I appreciate the OP. These fuckin' trump nut sucking dip shits are just a fucking lost cause. Cant learn shit! Dont wanna learn shit! Just wanna stay sucking on them orange nuts. If agent orange took a shit down their throats they would be in absolute bliss.

I appreciate the OP. These fuckin' trump nut sucking dip shits are just a fucking lost cause. Cant learn shit! Dont wanna learn shit! Just wanna stay sucking on them orange nuts. If agent orange took a shit down their throats they would be in absolute bliss. Originally Posted by Jason Green

Well, lookee here folks... if it taint Mr. Jason Green, libtard troll extraordinaire. For 8 long years he done sucked on odumbo's clit and hildebeest's dick and now all he knows how to talk about is nut-sucking and shit-swallowing and other scatalogical libtard disorders!

No doubt Mr. Green never took a course in economics in his short pathetic life, but that doesn't stop him from wanting to tell everyone what the libtards are entitled to do with other people's money! Anyone who objects just "can't learn shit!"

If hildebeest butt-fucked him all day long with michelle's 12-inch strap-on he would be in absolute bliss!

Asswipe doesn't understand what he posts. And he calls a billionaire who won the Presidency in his first try for any public office. The only track record Asswipe has is that he's a cockstalking, cocksucking pig. And a fucking stupid pig. Originally Posted by bambino

I assume you do not consider his time with the Reform party as actually running then. You know back when he was in support of the gays and knew who Duke was, and thought Buchanan was a Neo Nazi. LOL