The Oracle says if President Trump can win the trade war against China, the United states of America will gain $500b yearly to sort out the trade imbalances with China which no President ever treated in history, infact it was a no go areas for the past 4 Presidents.
if Democrats House controlled Congress will approve the new USMCA deal with Mexico and Canada, the country will save $150b yearly in trade imbalances, note this deal had been approved by Mexico and Canada except US because of Democrat policy to obstruct this administration, the Oracle need not even give the funny excuse of Nancy Pelosi on this deal, very unfortunate.
The newly approved deal with Japan will bring in $180b yearly in trade balance, and all these, apart from European deal under discussion Donald Trump is the only President in US history since Andrew Jackson in 1837 fixing the “root cause” of US debts now at $22trillion which is mostly based on trade imbalance as a result of careless deals of the past four US Presidents.
President Bill Clinton who attempted to pay off the National Debt from$8 trillion to $5 trillion ended up creating new problems which ballooned after the opportunities he opened to China. President Clinton policy with China led to intellectual property theft and currency manipulation by the Chinese.
President Bush with his careless war over Iraq and President Obama’s “see no evil talk no evil” policy just played along with no plan to reform the past careless deals which allowed China to place tariffs on US exports and with little or no tariffs on Chinese products in US including currency manipulation.
It is a difficult task for President Trump with no support from the Liberal Press like CNN, ABC, MSNBC, New York Times, and Washington post all of them owned by the Democrats except Fox News, OANN and Newszents that are conservative, instead of show casings the goodwill of the President who could have played safe since he had businesses with Chinese before he became President they focus more on destroying his policies than thinking of the future of the nation, mo wonder Trump called the enemies of the nation, if they are not the enemies what are they?
President Trump a businessman before he ran for office placed the future of his country saddled with debts above his personal/business interest in confronting the real US giant debts, particularly the Chinese.
Unfortunately the husband of the Speaker Nancy Pelocy who would table the agreement with Mexico and Canada is a billionaire with Chinese investment, the wife of Senate Majority leader a Republican is also with interest in China, without any of the two putting the interest of the country above self interest, the $22trillion may end up like $26trillion at the end of Trump Presidency.
The interest on the National Debt alone is closer to $2trillion yearly, as it is, every year this interest will be added to the National debts more like compound interest which was what happened throughout Obama presidency.
By the time Obama left office from $11.7tr he met from Bush he handed over $20tr to President Trump in January 2017, if the interest had not been paid, instead of the current 22trillion the Oracle says 26trillion would have been the situation, with massive cuts in wastes, trade renegotiation deals President Trump is repackaging his country and US economy will be stronger.
The economy is growing between 2.7 to 3.1% better than 1.2% during Obama presidency, better than 0.8% in the whole of Europe, China economy just lost 2.5m workers to economic problems, the VP of China at G7 told President Trump of the decision of China to talk,
Since Trump became President almost 7 million new jobs added to US economy, with almost one million of them in the manufacturing sector which Obama said would never come back.
Today in major US stores “Made in USA or Made in America products are replacing made in China, and if the deals are signed and approved by the Congress, US economy will grow by 5.6% within a year and unemployment may be Zero% since Trump will base his new immigration policy on merit base like Canada the source for unskilled workers will be reduced.
Can the Democrats redeem US and its compounded national debts? The answer is not even the current front runner Joe Biden with business interest in China, or Bernie sanders with plans to add $16trillion to the National Debt with his programs, Elizabeth Warren, Kamala Harris and Pete Buttigigatt never showed interest on the debt and trade deals.
To be continued.
Zents Sowunmi is a New York based writer.