It's the equivalent of a new payroll tax or a 17% cut in the size of the military, according to a top think tank.
National debt hits a record $37 trillion, years sooner than pre-pandemic projections
BY FATIMA HUSSEIN AND ASSOCIATED PRESS
August 12, 2025
When the next recession hits, whoever is president will face intense pressure to cut tariffs, so don’t rely on them for revenue, top economist says
August 11, 2025
It's the equivalent of a new payroll tax or a 17% cut in the size of the military, according to a top think tank.
In exclusive interviews with Fortune, Wharton’s Professor Joao Gomes and AEI’s Desmond Lachman warned that while tariffs may slow…
"At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent…
In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One…
Despite this surge in tariff revenue, the deficit still totaled $1.8 trillion, or roughly 6% of GDP. And if the Supreme Court…
Fortune's Shawn Tully and Steve "the money doctor" Hanke have argued that they bear a strong, uncanny resemblance to a tax…
