Tues, Aug 5, 2025:
US Plans Record $100 Billion Bill Sale as Borrowing Needs Mount – Bloomberg
Thurs, July 31, 2025:
GOP claims that tariff revenues can be used to pay “tariff dividends” to taxpayers or “pay down the national debt.” – WP
- GovBudget: This is utter nonsense. The U.S. is running annual deficits close to $2 trillion per year. New tariff revenues may generate $200 – $300 billion per year (which is uncertain because imports will decrease as tariffs go up). Tariff revenues will simply lower annual deficits by 10 – 15%, and that is before figuring in deficit increases from the tax cuts in Trump’s One Big Beautiful Bill Act (OBBBA). Tariffs don’t give us any “extra revenues” to send back to taxpayers or reduce accumulated public debt. They simply reduce annual deficits by a fractional amount, while accumulated debt continues rising dangerously. Bottom line: sending checks approximating “tariff revenues” to taxpayers would be additional federal spending, financed by federal borrowing, and would increase deficits.