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Vox: Trump just made a humiliating economic error in front of South Korea’s president

MTAtech

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[h=1]Trump just made a humiliating economic error in front of South Korea’s president[/h]

The United States has trade deficits with many, many countries, and we cannot allow that to continue ... with South Korea right now, but we cannot allow that to continue. This is really a statement that I make about all trade: For many, many years the United States has suffered through massive trade deficits; that’s why we have $20 trillion in debt.

The so-called president doesn't even know that the trade deficit and the national deficit are two different things. This guy is shockingly uninformed but thinks he knows everything.
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

like I alluded to in another thread; the MORE Trump runs his trap the more THE WORLD will know how pathetically stuuuuuuuuuuupid he is ............
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

No doubt ... a dufus on numerous levels.
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

[h=1]Trump just made a humiliating economic error in front of South Korea’s president[/h]



The so-called president doesn't even know that the trade deficit and the national deficit are two different things. This guy is shockingly uninformed but thinks he knows everything.

I think he certainly does know the difference and is saying that our very large trade deficits are a reason why we have 20t in total debt.
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

[h=1]Trump just made a humiliating economic error in front of South Korea’s president[/h]



The so-called president doesn't even know that the trade deficit and the national deficit are two different things. This guy is shockingly uninformed but thinks he knows everything.

Someone should activate the inner GOP hack inside Trump by asking him, how the 20T is South Korea's fault, when it's already Obama's fault..
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

I think he certainly does know the difference and is saying that our very large trade deficits are a reason why we have 20t in total debt.

That's right, that's what he said. Just that the two have nothing to do with each other. The trade deficit doesn't contribute to the national debt. As the article says, countries can and do have trade surpluses and still run deficit budgets, because the government's spending is higher than it's revenue.
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

That's right, that's what he said. Just that the two have nothing to do with each other. The trade deficit doesn't contribute to the national debt. As the article says, countries can and do have trade surpluses and still run deficit budgets, because the government's spending is higher than it's revenue.

I think he is speaking to practice and behavior. in other words bad trade policy has led bad fiscal policy in general. although its probably the other way around.
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

I think he certainly does know the difference and is saying that our very large trade deficits are a reason why we have 20t in total debt.

Exactly how are the 2 things related then? Do you think trade deficits get added to our debt?
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

Exactly how are the 2 things related then? Do you think trade deficits get added to our debt?

Well it could be related in this way

The trade deficit shows economic activity that could have been done in the US. That activity could generate extra tax revenue for the government leading to lower or non existent deficits. Which could have made the 20 trillion dollar deficit much smaller
 
Re: Vox: Trump just made a humiliating economic error in front of South Korea’s presi

Well it could be related in this way

The trade deficit shows economic activity that could have been done in the US. That activity could generate extra tax revenue for the government leading to lower or non existent deficits. Which could have made the 20 trillion dollar deficit much smaller

There are a million reasons for loss of tax revenue and tax cuts seem the most obvious. And then there is the trillions spent on useless wars. Trade deficits paid an insignificant part IMO.
 
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