Tax/budget nerd @CenterOnBudget | Former Biden-Harris National Economic Council tax/budget/supply chains | @amprog /Senate/@JECDems alum | Tweets are mine
My hot take is that the Republican President nominating RFK Jr as HHS Secretary and 50+ Republican Senators confirming him is the fault of the Republican Party, not the Democratic Party.
RFK is going to be HHS as a direct result of democrats and Fauchi blatantly lying to mothers in this country, putting our children second behind adults and radicalizing them during COVID.
The Republican Party spent all of Obama’s term obsessed with building the Keystone XL pipeline so we could import more oil from Canada.
Now they’re spending Trump’s 2nd term angry that we’re importing too much oil from Canada since that’s the reason our bilateral trade deficit.
Sen. Hawley, now a YES on ‘Big, Beautiful Bill,’ says Rs have a “lot of thinking to do” on Medicaid.
“We can't be cutting healthcare for working people and for poor people in order to constantly give special tax treatment to corporations,” he told me.
Incredible stuff--they wanted to make the thing seem more sophisticated than it is so they threw in two Greek letters but selected values that cancel out so it's still just trade deficit divided by imports.
If you scroll down further in the quoted document, it explains that ε is set to the constant 4, and φ is set to the constant 0.25.
The formula is therefore (exports - imports) / (4 * 0.25 * imports) = (exports - imports) / imports = trade deficit / imports as claimed.
ustr.gov/issue-areas/re…
If you made me come up with the dumbest, most regressive tax policy combo I could think of, I would be incapable of topping No Tax on Crypto + a 25% tax on Canadian/Mexican imported goods.
We estimate the Senate-passed reconciliation bill increases primary deficits by $3.1 trillion over 10 years. The dynamic cost, including changes to the economy, is larger at $3.5 trillion. GDP falls by 0.3 in 10 years and falls by 4.6 in 30 years. budgetmodel.wharton.upenn.edu/issues/2025/7/…
Effective immediately we are pausing all issuance of worker visas for commercial truck drivers.
The increasing number of foreign drivers operating large tractor-trailer trucks on U.S. roads is endangering American lives and undercutting the livelihoods of American truckers.
No sign DOGE significantly cut spending or the deficit in February according to CBO.
Federal outlays grew 7% compared to last year and the deficit grew 5%.
