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Speaker 1: So Trump came out and is now basically declared that

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Speaker 1: he wants every American to get two thousand dollars off

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Speaker 1: the tariff tax. Though we call him terror, I mean

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Speaker 1: that's what it is. Tariff is a tax, right, which

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Speaker 1: is which is bizarre because so basically what he's saying

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Speaker 1: is I want you to pay higher taxes or higher prices,

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Speaker 1: and then for your paying higher prices, I'm going to

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Speaker 1: give you two thousand dollars back. This can't be serious.

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Speaker 1: We can't be doing this again. That would be what

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Speaker 1: Stimulus round number four and Stimulus rounds one to three

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Speaker 1: did such a fantastic job of increasing the cost of everything.

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Speaker 1: So this is fascinating. The Hill had a kind of

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Speaker 1: did a deep dive on all of this, and as

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Speaker 1: did other media outlets Politico, et cetera. And one of

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Speaker 1: the things in one of these pieces that came out

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Speaker 1: those fascinating to me is so our national debt is

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Speaker 1: three trillion dollars and they had initially sold you mean

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Speaker 1: thirty eight trillion. I'm sorry, what did I say? You

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Speaker 1: said three? Oh no, no, I'm substantial. I will come back

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Speaker 1: to the three here in a second, thirty eight trillion

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Speaker 1: dollars they had initially sold the tariffs as and now

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Speaker 1: they're just all over the map on it because the

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Speaker 1: initially sold the tariffs says, oh, we're gonna use it

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Speaker 1: to pay down the debt. You're gonna be all for

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Speaker 1: this because we're gonna use it to pay down our debt. Well,

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Speaker 1: then once the shutdown happened, they're like, no, no, no, we're gonna

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Speaker 1: give it to the snap people. We're gonna we use

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Speaker 1: the money for the snap and low income people. So

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Speaker 1: and the farmers, we're gonna wick yeah, wick yeah. The

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Speaker 1: the the poor people, we're gonna help them. But what

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Speaker 1: happened to paying down the debt? And we're gonna use

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Speaker 1: it for the poor people. And then yesterday Trump came

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Speaker 1: out and said I'm gonna give everyone two thousand dollars

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Speaker 1: And then people said, well, but I thought it was

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Speaker 1: initially going to the debt, and then it's going to

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Speaker 1: the farmers and the poor people. Now it's going back

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Speaker 1: to us. And then I can't remember as Politico or

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Speaker 1: the Hill did a deep dive on this and the

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Speaker 1: total amount of revenue if Trump got everything he wanted

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Speaker 1: in these tariffs, and it lasted a decade, we would

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Speaker 1: get three trillion dollars the nation, the United States of America.

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Speaker 1: Not that that's some small amount of money, but when

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Speaker 1: you're thirty eight trillion in debt, even if used every

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Speaker 1: penny to quote unquote pay down the debt, you're running

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Speaker 1: much higher annual deficits than the revenue coming in. So

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Speaker 1: you would still be more in debt than when you started,

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Speaker 1: even if used every penny to pay down the debt,

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Speaker 1: less than one tenth of the total debt overall. I

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Speaker 1: do think that is pretty minuscule in the grand scheme

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Speaker 1: of things, and considering how devastating the stimulus packages were

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Speaker 1: to the economy, this seems like an inadvisable idea. But

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Speaker 1: Trump can't do this unilaterally, right, He can't just decree

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Speaker 1: it to be so. I know he has a certain

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Speaker 1: amount of discretion with setting the rates of tariffs themselves,

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Speaker 1: but he doesn't have discretionary spending power with the money

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Speaker 1: that's generated. Does you think if you tried to do

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Speaker 1: it there would be many Republicans who would stop him,

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Speaker 1: based on they don't really stop him doing much of anything. Well,

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Speaker 1: they don't have sixty votes though, well, but of course,

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Speaker 1: of course The other problem he's got is this is

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Speaker 1: these tariffs are it looks like going to be overturned

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Speaker 1: at the Supreme Court. I mean, if you read the

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Speaker 1: tea leaves on these Supreme Court hearings that have taken place,

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Speaker 1: the court seems to be wrestling with if we overturn this,

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Speaker 1: what's the doomsday scenario in terms of having to pay

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Speaker 1: the money back? Those are the questions they were really asking,

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Speaker 1: is if you win. So a group of Democrat attorney

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Speaker 1: generals and local business people are suing the Trump administration

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Speaker 1: over Trump using emergency power, saying there's not an emergency.

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Speaker 1: He can't just unilaterally do these tariffs. He's got to

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Speaker 1: go through the Congress, and the court seem to agree

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Speaker 1: with him or with them. The people suing, however, the

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Speaker 1: one thing they're wrestling with is so much money has

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Speaker 1: already been paid by people who've had to pay these taxes,

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Speaker 1: which is what tariffs are. They said, well, how does

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Speaker 1: the government pay you back? And the people suing were like, not,

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Speaker 1: our problem. Your job is to enforce the law. They

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Speaker 1: made the bad choice. They got to figure it out.

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Speaker 1: You've got to just rule what the law and what

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Speaker 1: the constitution says, and so there could be all this

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Speaker 1: cast and we menined him getting a penny out of

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Speaker 1: this if they got to pay all these people back.

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Speaker 1: Based on my reading of the Constitution, I understand tax

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Speaker 1: and spend authority would lie with the car grizz. I mean,

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Speaker 1: am I wrong that the President doesn't have the ability

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Speaker 1: to enact these things completely unilaterally? And I know there

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Speaker 1: was a gray area with enacting the tariffs, but I

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Speaker 1: think he may have overstepped here. All right, Well, if

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Speaker 1: you're against the tariffs, Trump does not think very highly

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Speaker 1: of you, and he went to his social media. I

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Speaker 1: believe this was the truth social media, and this is

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Speaker 1: what he had to say.

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Speaker 2: People that are against tariffs are fools. We are now

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Speaker 2: the richest, most respected country in the world, with almost

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Speaker 2: no inflation and our record stock market price for a

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Speaker 2: one kser, highest ever we're making. We are taking in

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Speaker 2: trillions of dollars and we'll soon begin paying down our

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Speaker 2: enormous debt.

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Speaker 1: Thirty seven trillion thirty eight But what's one trillion? Amongst friends?

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Speaker 2: Record investment in the USA, plants and factories going up

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Speaker 2: all over the place, A dividend of at least two

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Speaker 2: thousand dollars.

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Speaker 1: A person, not including high income people, will be paid

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Speaker 1: to everyone. Wonderful. He's all over the map on that one,

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Speaker 1: paying down the debt, now giving money.

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Speaker 2: Back to you.

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Speaker 1: I just just wish it would all stop. Like, we

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Speaker 1: live in a global economy, and it's one thing to say,

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Speaker 1: we want to make America an economic climate where people

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Speaker 1: want to do business here. We want to make America

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Speaker 1: competitive with the rest of the world. But the reality

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Speaker 1: is that thirty plus years ago we waved bye bye

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Speaker 1: to the idea of many things being made in this country,

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Speaker 1: and there's many things that people don't even want to

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Speaker 1: make in this country. Well, we also don't have the

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Speaker 1: ability to make everything realistically in this country. I'm sure

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Speaker 1: you've seen the famous essay by Milton Friedman An Eye

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Speaker 1: the Pencil, about the many different components and the you know,

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Speaker 1: the just manufacturing a simple pencil requires so many different

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Speaker 1: materials from so many different places that one person couldn't

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Speaker 1: do at all. So we do live in a global economy,

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Speaker 1: all right, We've got a lot to get to. By

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Speaker 1: the way, that that what is this it's Cayman Jack

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Speaker 1: just of that that is that is that is pretty

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Speaker 1: good