The Fiscal Deficit Is the Grandfather of the Trade Deficit | 4/7/25

Today, we delve into two applicable words from the English language to describe Con Inc. and its arguments for the mix of policies we are seeing from the Trump administration: sophistry and demagoguery. It is taking broad principles we all support in their proper spheres and misapplying them to the extreme to play on people’s emotions. Also, to the extent a trade deficit is a problem, it’s only because of the fiscal deficit. The problem is Trump is now supporting a horrible Senate reconciliation bill to make matters worse. If only he cared about the fiscal deficit as much as the trade deficit, we would achieve his stated goals without spending as much political capital.

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