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GOP senator: Trump’s policies doing 'permanent damage'

lurchadams

lurchadams

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http://thehill.com/homenews/senate/...ter_impression=true&__twitter_impression=true

Sen. Ron Johnson (R-Wis.) warned on Sunday that President Trump’s policies on trade are starting to do “permanent damage.”

Johnson said during an interview with New York AM 970 radio host John Catsimatidis that his state of Wisconsin has “been particularly targeted” by China’s recently imposed tariffs, which came in response to Trump’s trade measure against the country.

Johnson told Catsimatidis that the steel tariffs are “hitting us pretty hard,” adding that he’s heard of price increases of 30 to 40 percent.

"The problem with that is it raises the cost of American-manufactured products, Wisconsin-manufactured products, which makes them less competitive on the global trade market," Johnson said.
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One GOP lawmaker willing to speak truth to power. I wish there were more like him.
 
The same Ron Johnson who wants to end Russian sanctions?
 
EnigmaO01 said:
But he has an ulterior motive: it's effecting his state and constituents and could jeopardize his re-election. Nothing altruistic here.
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The highest goal of every elected politician is to save his own ass before all else. That is all this is about as you wisely called it.
 
There is no such thing as permanent damage in our political system. or in life for that matter, everything is temporary.

The Republican's were against Trump from the days and month before the election, this is nothing new, he's just the latest to come out.

For what it's worth, Trump getting the amount od resistance he's gotten is the main reason I want him to succeed.
 
EnigmaO01 said:
But he has an ulterior motive: it's effecting his state and constituents and could jeopardize his re-election. Nothing altruistic here.
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Is that really ulterior?

Isn't that rather primary and obvious?
Isn't his job specifically to represent his constituents' interests?
 
azgreg said:
The same Ron Johnson who wants to end Russian sanctions?
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The same Johnson who’s beaten Finegold twice in a row, spent this past July 4th appeasing Russia in Moscow, and now seeing PERMANENT damage NEXT year with lost markets.
 
lurchadams said:
GOP senator: Trump?s policies doing 'permanent damage' | TheHill

Sen. Ron Johnson (R-Wis.) warned on Sunday that President Trump’s policies on trade are starting to do “permanent damage.”

Johnson said during an interview with New York AM 970 radio host John Catsimatidis that his state of Wisconsin has “been particularly targeted” by China’s recently imposed tariffs, which came in response to Trump’s trade measure against the country.

Johnson told Catsimatidis that the steel tariffs are “hitting us pretty hard,” adding that he’s heard of price increases of 30 to 40 percent.

"The problem with that is it raises the cost of American-manufactured products, Wisconsin-manufactured products, which makes them less competitive on the global trade market," Johnson said.
Click to expand...

One GOP lawmaker willing to speak truth to power. I wish there were more like him.
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Did anyone who mastered ECON101 not know that was what was going to happen? Of course, one couldn't pinpoint a specific cost increase as has Sen. Johnson, but one didn't need to. Basic supply and demand tells one the following:
  • Steel is, for all intents and purposes, a raw material (literally, it's a step away from raw materials -- the ore that's mined to make steel)
  • The demand curve for steel is highly inelastic
  • There are no viable (economic) substitutes for steel in the production of most goods that use steel. (Of course plenty of things can be made from other metals, but not as inexpensively and with equal or better usage characteristics.)
Those three things and the concepts associated with them is enough to know that:


  • The incidence of the price increases resulting from the tariff will land on intermediate and final goods producers and end consumers.
  • To the extent that intermediate producers bear the direct incidence of the tax, they will increase the price of whatever they sell to pass on as much of it as they can.
    • To the extent their wares have inelastic demand curves that match steel's they'll be able to pass on the increase in proportion to the share of it they bore.
    • To the extent their wares have less inelastic or elastic demand curves, they won't be able to pass on a proportional share of the price increase they bore for the steel (or steel goods) they purchased. (Very few intermediate goods producers have inelastic demand curves.)
    • Intermediate and final goods producers whose wares have elastic demand curves will, to match pre-tariff profitability, have to increase prices proportionally more than what they bore. That will lead to a leftward shift in their demand curve, and potentially enough that they cannot match their prior profitability (as a rate or as a quantity or both). (Very few final goods producers have inelastic demand curves.)
  • Price increases on raw materials like steel and that filter throughout the marketplace in the long-run shift myriad demand curves leftward, pretty much everyone's except those of the producers of the highly inelastically demanded materials in question.
So, that Johnson is hearing about 30% and 40% price increases resulting from a 25% tariff isn't at all surprising. It's the very opposite of surprising; it's what anyone having mastered ECON101 and arithmetic would ballpark estimating a best case scenario would posit, "on a napkin," so to speak.

Hell, a tariff on steel will make the price of plastic bottles increase.
 
lefty louie said:
There is no such thing as permanent damage in our political system. or in life for that matter, everything is temporary.

The Republican's were against Trump from the days and month before the election, this is nothing new, he's just the latest to come out.

For what it's worth, Trump getting the amount od resistance he's gotten is the main reason I want him to succeed.
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Not your first language? Your post baffles me.
 
Hawkeye10 said:
Trump is doing his best to damage the administrative state as well as the schemes of the globalists....this is a Rebellion after all....

Trump does good work.
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WTF? Come on now come clean. You're toking while you post right?
 
permanent? hard to say. they said the same thing about George W. Bush, and after his economic collapse, we still recovered. Trump is much worse, but permanent is a long time. if the dollar loses its role as the global reserve currency, that will be really bad for all Americans, as would a war led by a dip****. let's hope that enough people vote against in November.
 
Hawkeye10 said:
Trump is doing his best to damage the administrative state as well as the schemes of the globalists....this is a Rebellion after all....

Trump does good work.
Click to expand...

Rebel leaders often end their careers being lined up against a wall and shot. Don't be standing next to them when that happens.
 
EnigmaO01 said:
WTF? Come on now come clean. You're toking while you post right?
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Crops looked good on the way out here to Idiots Out Wandering Around. Couldn’t keep it under 80 on 80. Too many gulley washers on specific bean fields though. Toweling down with continued heat index, though better, and Bug Soother for flying insects.

Sweet corn all over, county fairs starting, should be interesting listening to the latest hold-out trumpcon farmers falling on the sword of complete stupidity bankrupting them.
 
lurchadams said:
GOP senator: Trump?s policies doing 'permanent damage' | TheHill



One GOP lawmaker willing to speak truth to power. I wish there were more like him.
Click to expand...

Sen. Johnson was in Moscow on July 4th presumably to talk tough with the Russians....but ended up kissing their butts. The Russians loved it.


"....On Russian state television, presenters and guests mocked the U.S. congressional delegation for appearing to put a weak foot forward, noting how the message of tough talk they promised in Washington “changed a bit” by the time they got to Moscow.

“We need to look down at them and say: You came because you needed to, not because we did,” Igor Korotchenko, a Russian military expert, said on a talk show on state-run television.

Links to the quotes were circulated on Twitter by Julia Davis of RussianMediaMonitor.com.

The congressional GOP’s prominent foreign policy voices have remained quiet about the trip, declining to comment about the visit’s significance...."

https://www.washingtonpost.com/powe...ffcabeff946_story.html?utm_term=.2af2e7ffdd79​


So much for truth to power, eh?

The GOP is harming the US no matter you try to slice and dice it.
 
Helix said:
permanent? hard to say. they said the same thing about George W. Bush, and after his economic collapse, we still recovered. Trump is much worse, but permanent is a long time. if the dollar loses its role as the global reserve currency, that will be really bad for all Americans, as would a war led by a dip****. let's hope that enough people vote against in November.
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Agreed. To say it's O.K. don't worry because something is not permanent is absurd. The genocide of the Natives Americans and stealing of their land was not permanent so no big deal, the final solution was not permanent so no big deal, the depression was not permanent so no a big deal there, or the dust bowl, or...

The thing is if you're near retirement and some numbskull president sends the economy into a tailspin, wiping out your 401k, you won't be consoled by some idiot telling you it's only temporary.
 
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EnigmaO01 said:
But he has an ulterior motive: it's effecting his state and constituents and could jeopardize his re-election. Nothing altruistic here.
Click to expand...

The fact he's looking out for his actual constituents is admirable to me. It's more than what most of his GOP/Trump party colleagues are doing!
 
EnigmaO01 said:
Agreed. To say it's O.K. don't worry because something is not permanent is absurd. The genocide of the Natives Americans and stealing of their land was not permanent so no big deal, the final solution was not permanent so no big deal, the depression was not permanent so no a big deal there, or the dust bowl, or...

The thing is if you're near retirement and some numbskull president sends the economy into a tailspin, wiping out your 401k, you won't be consoled by some idiot telling you it's only temporary.
Click to expand...

i'm concerned how the next serious recession will affect my family. the last one set my career back half a decade, and i see a lot of the same puzzle pieces being assembled now.
 
Moot said:
Sen. Johnson was in Moscow on July 4th presumably to talk tough with the Russians....but ended up kissing their butts. The Russians loved it.


"....On Russian state television, presenters and guests mocked the U.S. congressional delegation for appearing to put a weak foot forward, noting how the message of tough talk they promised in Washington “changed a bit” by the time they got to Moscow.

“We need to look down at them and say: You came because you needed to, not because we did,” Igor Korotchenko, a Russian military expert, said on a talk show on state-run television.

Links to the quotes were circulated on Twitter by Julia Davis of RussianMediaMonitor.com.

The congressional GOP’s prominent foreign policy voices have remained quiet about the trip, declining to comment about the visit’s significance...."

https://www.washingtonpost.com/powe...ffcabeff946_story.html?utm_term=.2af2e7ffdd79​


So much for truth to power, eh?

The GOP is harming the US no matter you try to slice and dice it.
Click to expand...

Thanks for harshing my buzz, man :)
 
lurchadams said:
Thanks for harshing my buzz, man :)
Click to expand...

Sorry, lurch. lol

I suspect Johnson is only saying these things because he's not going to run again.
 
Hawkeye10 said:
Trump is doing his best to damage the administrative state as well as the schemes of the globalists....this is a Rebellion after all....

Trump does good work.
Click to expand...

Please explain what you believe would be a good outcome of this work. Thanks!
 
Moot said:
Sorry, lurch. lol

I suspect Johnson is only saying these things because he's not going to run again.
Click to expand...

Sadly, you're probably correct :(
 
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