after yearbooks listed him as the leader of the fraternity’s chapter at the University of South Carolina in 1969, along with photos of members wearing Confederate uniforms and posing with a rebel flag.
For Trump, tariffs are a diplomatic tool for his policy goals. But they’re also a threat possibly meant to jumpstart trade talks. They’re also a revenue raiser that he claims could bring trillions of dollars into the treasury.Trump did increase tariffs during his first term, with revenue collection more than doubling to an annual rate of $85.4 billion, which might sound like a lot but was equal to just 0.4% of the gross domestic product. Multiple analyses by the
, among others, say the threatened tariffs would increase costs for a typical family in a way that effectively raises taxes.What really matters is whether Trump delivers on his threats. That is why Ben Harris, a former Biden adviser who is now director of economic studies at the Brookings Institution, says voters should focus on average tariff rates.“Trade is really tricky” Harris said. “But in broad terms, look at what he does and not what he says.”
Trump likes to blame inflation on the national debt, saying Biden’s policies flooded the U.S. economy with more money than it could absorb. But about 22% of the $36 trillion outstanding total debt originated from the policies of Trump’s first term, according to the Committee for a Responsible Federal Budget, a fiscal watchdog.Paul Winfree, a former Trump staffer who is now president and CEO of the Economic Policy Innovation Center, warned in a recent analysis that the U.S. is getting too close for comfort to its fiscal limits. His analysis suggests that if Trump can preserve 3% growth he could extend his expiring 2017 tax cuts while keeping the debt sufficiently stable by cutting spending $100 billion to $140 billion a year.
The risk is that higher borrowing costs and debt can limit what Trump does while keeping borrowing costs high for consumers. Lawmakers who once viewed the debt as problem years away increasingly see it as something to address now.
“One of the biggest vibe shifts I’m picking up on now among policymakers is they’re beginning to realize the long-term is today,” Winfree said., whose second term expires this summer. Most political power in Poland lies with a government led by a prime minister and parliament, but the president holds the power to veto laws and influences foreign policy.
Sunday’s vote follows a first round on May 18, in which Warsaw Mayor Rafał Trzaskowski won 31.36% of the vote and Karol Nawrocki, a conservative historian, earned 29.54%. Eleven other candidates were eliminated.Nawrocki, a 42-year-old historian with no political experience who is not even a party member, was tapped by Law and Justice as part of a push for a fresh start.
Law and Justice governed Poland from 2015 to 2023, when it lost power to a centrist coalition led by Prime Minister Donald Tusk.Nawrocki currently heads the Institute of National Remembrance, which embraces nationalist historical narratives. He led efforts to