Politalk.ca

First, federal government spending is now consuming more than 23 per cent of America’s economic output, up from less than 21 per cent of GDP before the pandemic.

Second, there will be a big automatic tax increase at the end of this year if the 2017 tax cuts are not made permanent, or at least extended.

Third, the growing burden of government spending has led to $2 trillion annual deficits and record levels of government debt.

There’s one final reason to worry. I started this column by listing three challenges that Trump inherited. He has now apparently decided to sabotage himself, imposing big trade taxes, thus creating a fourth challenge. The United States may be in big trouble.