Economist Joseph Gagnon contends that the initiatives taken by President Trump, such as implementing tariffs and reducing funding to USAID, will not effectively address the national deficit. Although cost-cutting measures may appeal to many, Gagnon insists that the root issue lies in the outdated structure of the U.S. government. He warns that while these layoffs and funding cuts could save money, they could also adversely impact the economy and the national debt over time, highlighting the need for more substantial reform.
Tariffs won't solve the national deficit; they are not a sustainable replacement for taxes. The bloated government needs modernization, not just cuts.
While firing federal employees is popular, it raises concerns regarding the long-term impact on the economy and the rising national debt.
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