The pledge: “Starting on day one, we will end inflation and make America affordable again, to bring down the prices of all goods. They’ll come down fast.”
The reality: America has become less affordable, prices for goods went up, and went up fast.
The reason: Trump imposed steep tariffs on consumer goods-claiming tariffs one of “the most beautiful words I ever heard.”
If President Trump had done a little historical research instead of blindly bulldozing ahead, he would have discovered that some 50 years ago President Nixon, a Republican, also imposed tariffs as a solution to our trade imbalance, and his implementation was successful.
Nixon’s primary goal was, to quote from EV Magazine, “not to protect US industries but to force key trading partners—such as Japan and West Germany—to revalue their currencies against the US dollar. At the time, America's trade balance had shifted from surplus to deficit, raising alarms about global competitiveness. Nixon's tariffs, though temporary, had a lasting impact. They pressured major economies to abandon the fixed exchange rates under the Bretton Woods system, leading to the Smithsonian Agreement in December, 1971. The agreement allowed key currencies to appreciate against the dollar, making US exports more competitive." Nixon's tariff plan was specific, actionable and transparent."
The key words in this description being “specific”, “actionable”, and “transparent.” Trump has placed tariffs on almost all countries, the specificity varying from country to country. The timetable for the length of the tariffs is unspecified. The transparency is questionable in that from one day to the next they are randomly reduced by executive order according to the push back from leading corporations and manufactures in the U.S. And their action of implementation is one of brinkmanship, like someone involved in a poker game; betting on who will fold first. This style has led to severe disruption in global trade, creating significant supply chain upheavals, as companies adjust to higher costs, which will be passed down to the consumer.
One might conclude from all this that President Trump and his advisors don’t have a clue as to what they are doing. I certainly hope that isn’t the case, but so far things are leaning in that direction.
So while many may think I am just picking on our President because he is dealing with illegal immigrants in our country and government waste, which by the way, according to Musk's own figures published on his social media platform 'X' totals about $160 billion in savings rather than the $2 trillion Musk initially claimed he would find, I am more focused upon how my retirement check is impacted. To me both pale in comparison to the cost of living issue. And I admit that I want immediate gratification because I am advanced in age, on a fixed income, and desperately need some financial relief now.
Additionally, I don’t have the patience to rely on some pie in the sky promise from Trump Republicans that this will all work out in two years or so, and that for now we need "to buy less dolls for our children." There is simply no plan B if this doesn’t occur, and we all know how politicians lie. My beef with President Trump is simple; just deliver on your campaign promise “on day one” regarding my cost of living.
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