Two eager readers forward me Congressman Dusty Johnson’s latest campaign flyer disguised as a legislative update on his noble fight against Communism:
I guess we’re always going to party like it’s 1989.
It’s funny that we fret about losing a capitalist contest to Communists. Conservative California/South Dakota businessman Jeff Lassle says we aren’t losing that battle at all:
In bold print Johnson states there is a $345.2 billion trade deficit with China not considering that China has bought as much from the U.S. as a percentage of their GDP as we, the U.S., have bought from China as a percentage of our GDP; last looked it was about 2.5% of our entire GDP on an annual basis. Mr. Johnson also fails to consider the hundreds of U.S. companies in China like Tesla, 3M, Sherwin-Williams, Apple, Nike, etc. who are manufacturing in China and selling directly to the Chinese people at about $387 billion annually. If one does the math there appears to be a massive trade surplus when one adds in the trade multipliers of trillions of dollars as a result of this trade [Jeff Lassle, open letter to South Dakota Legislature and press, 2021.11.04].
It’s also funny that Dusty wants to sweat the trade deficit, after his last President promised but failed to erase that gap, so about what and whom is Dusty really complaining? It sounds like the trade deficit, just like the federal budget deficit, is just another phrase Republicans trot out to rouse voters’ fears when Democrats hold the White House, then forget about once they get a Republican President.