Loading ...The US imports about $4tn of stuff each year. Let’s say that the tariffs average 30%, and that the tariffs are totally absorbed by the American consumer, that raises $1.2tn in revenue. US debt is increasing by $1.8 – $2tn p.a. So they need to stop SPENDING, and if DOGE works with a $2tn cut in expenditure, then, and only then, do they start to pay down the debt. Except that, if they aren’t spending the $2tn which DOGE has removed from the economy, they won’t be importing $4tn of stuff with a $1.2tn tariff cost, and the economy will be in depression with increased SS payments and they’ll still be lucky to have anything left over to repay the debt. Even if a miracle happens, and they have a spare trillion, it’ll take 30 years to pay off the debt; starting in a depression.
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