Donald Trump’s entire presidency was predicated on the notion of radically improving the U.S. economy, which was completely depleted thanks to the “cool guy” liberalism of Barack Obama and the war mongering RINOism of George W. Bush.
Not only did Trump improve the economy, meeting his number one campaign promise, but he turned on its head the way foreign nations do business with the United States. Fairness was key and fairness was expected when negotiating with Donald Trump, and heaps of economic benefits were reaped as a result.
Cut to today, five years later, and the economy once again was radically transformed — this time for the worse.
Not only did Joe Biden and the Democrats steal an entire presidential election, but they enacted some of the worse economic policies the United States has ever seen since the Smooth-Hawley tariffs in the earlier 20th century.
On day one of Biden’s presidency, regulation and massive red tape was strewn throughout the federal government, making it more difficult for business to be done on every level. The results are what we’re seeing today: a depleted economy which works for absolutely no one expect the coastal elites earning billions by insidious means.
The U.S. trade deficit in goods rose above $1 trillion for the first time ever in 2021, topping the record-high $893.5 billion hit in the prior year.
Running a trade deficit in goods means that the U.S. economy leaks income to the rest of the world, increasing sales abroad while decreasing sales from U.S. manufacturers.
The deficit in goods increased 3% in December to $101 billion from $98 billion, the largest ever monthly increase. Economists had forecast a decline in the trade deficit to $95 billion from November’s $98 billion.
The massive amount of debt-fueled government stimulus has helped pump up demand from U.S. households. A significant portion of that has leaked out to foreign goods producers of appliances, games, computers, smart phones, and similar items.
Demand for U.S. exports has lagged because other countries have not recovered as quickly and U.S. tariffs remain low by historical standards.
Exports climbed 1.4% to $157.3 billion in December. Imports rose two percent after climbing 5% in November.
Author: Sebastian Hayworth