Donald Trump stated in an interview that “he has a real shot” at balancing the budget.
He noted that the US had an excess budget last month. “We are bringing in enormous amounts of money.” Last month, we had a surplus of $25 billion. “And the tariffs are still not even close to being implemented.”
Donald Trump stated on Wednesday that he has the opportunity to achieve a budget balance during his second term. This is an ambitious goal that four presidents have failed to accomplish, including Trump, as the 45th president. He said that he has a “real shot” at balancing the budget, which is a lofty goal, as it’s been eluded by four presidents before him, including Trump, the 45th.
“We are bringing in huge amounts of money. Last month, we had a surplus of $25 billion. In a wide-ranging television interview aired on Wednesday night, Trump said that the tariffs had not yet begun.
Trump said that most of the tariffs are currently imposed on automobiles, auto parts, aluminum, and steel. However, starting August 1, tariffs will be imposed on other foreign goods. This could result in a substantial increase in revenue, which would allow the Internal Revenue Service to become a viable alternative. “We would not need the Internal Revenue Service if we used the External Revenue Service.” The money is substantial. “It’s hundreds and billions of dollars.”
Estimates suggest that around $300 billion will be generated in tariff revenues by the end the year. Trump also indicated that many nations are willing to negotiate. “We are not going to be taken advantage of by any country, friend or foe, in the future, and they all know it.” “They’re all calling. You know, I sent letters,” Trump said.
A major rescissions package just passed.
The bill cuts the Corporation for Public Broadcasting by $1.1 billion.
The House of Representatives passed on 17 July a revised $9 Billion rescissions measure, and sent it to President Donald Trump.
Two Republicans, Reps. Mike Turner (R, Ohio) and Brian Fitzpatrick(R, Pa .)– voted against the bill.
This is another victory for Trump after the One Big Beautiful Bill Act, which was passed by Congress and signed by the President earlier this month, included among other things, permanent tax cuts for individuals.
The Senate approved the rescissions bill early Thursday morning. It includes $9 billion of cuts identified by the Department of Government Efficiency. This is part of the Republican’s 2024 promise to reduce federal spending by cutting fraud, waste and abuse.
The bill cuts $1.1 billion from the Corporation for Public Broadcasting over a two-year period, which will affect NPR, PBS, and their member stations. Trump had promised to stop federal funding for these outlets during his campaign.
Budget your money!
