Excellent thread on how tariffs are NOT paying down the deficit despite record revs. 2 blind spots in the analysis: it’s static. It counts the money coming in from tariffs but not the decline in economic growth and revenue that will come because tariffs are a tax and will slow consumer spending and gov rev. Second blind spot: The deficit calculation is static. It doesn’t take into account the increased growth from the deregulation etc in BBB and thus the increase in revenues. Best thing you can say about Trumps spending and tariffs: Net-net no one knows how it will shake out just yet