Some of you with sharper pencils have pointed out that for GDP growth purposes it's the change in the deficit, not the absolute size that matters. This is of course correct. But the point here is that deficits create private sector wealth. And huge deficits create huge wealth. This strengthens corporate earnings and private sector balance sheets. This makes entering into a recession much much more difficult--even if the fiscal impulse relative to last year from the GDP perspective is not very large.
Keil researchers calculate that almost all of U.S. tariffs are paid by Americans..."Foreign exporters absorb only about 4% of the tariff burden—the remaining 96% is passed through to US buyers."
https://t.co/3bRl3Yv5P1