Scott Simon

Good morning, Steve.

Good morning, Steve.

Good morning, Steve.

Yeah, it's the Congressional Budget Office, which says if all the tariffs in place at the beginning of the week stayed in effect for a full decade, it could cut the federal debt by $2.8 trillion, which is in the ballpark of that big tax cut and spending bill passed by the House. what it's expected to add to the debt over the next 10 years.

Yeah, it's the Congressional Budget Office, which says if all the tariffs in place at the beginning of the week stayed in effect for a full decade, it could cut the federal debt by $2.8 trillion, which is in the ballpark of that big tax cut and spending bill passed by the House. what it's expected to add to the debt over the next 10 years.

Yeah, it's the Congressional Budget Office, which says if all the tariffs in place at the beginning of the week stayed in effect for a full decade, it could cut the federal debt by $2.8 trillion, which is in the ballpark of that big tax cut and spending bill passed by the House. what it's expected to add to the debt over the next 10 years.

In other words, the tariffs could help to fill the hole that congressional Republicans have been digging with that tax and spending bill. But keep in mind, the tariff revenue isn't just coming out of thin air and is not being paid by foreign countries. It's mostly being paid by Americans, like Patrick Allen. He's a wine importer in Columbus, Ohio.

In other words, the tariffs could help to fill the hole that congressional Republicans have been digging with that tax and spending bill. But keep in mind, the tariff revenue isn't just coming out of thin air and is not being paid by foreign countries. It's mostly being paid by Americans, like Patrick Allen. He's a wine importer in Columbus, Ohio.

In other words, the tariffs could help to fill the hole that congressional Republicans have been digging with that tax and spending bill. But keep in mind, the tariff revenue isn't just coming out of thin air and is not being paid by foreign countries. It's mostly being paid by Americans, like Patrick Allen. He's a wine importer in Columbus, Ohio.

And congressional forecasters acknowledge as much. They say while the tariffs will bring in a lot of money for the government, they will also likely lead to higher inflation and slower economic growth.

And congressional forecasters acknowledge as much. They say while the tariffs will bring in a lot of money for the government, they will also likely lead to higher inflation and slower economic growth.

And congressional forecasters acknowledge as much. They say while the tariffs will bring in a lot of money for the government, they will also likely lead to higher inflation and slower economic growth.

Yeah, the CBO projects a fairly small drag, but it's really just a guess because we don't have any recent experience with tariffs of this size. You'd have to go all the way back to the Great Depression to find import taxes this high in the United States.

Yeah, the CBO projects a fairly small drag, but it's really just a guess because we don't have any recent experience with tariffs of this size. You'd have to go all the way back to the Great Depression to find import taxes this high in the United States.

Yeah, the CBO projects a fairly small drag, but it's really just a guess because we don't have any recent experience with tariffs of this size. You'd have to go all the way back to the Great Depression to find import taxes this high in the United States.

So Shia Kabbas, who's been keeping tabs on the tariffs at the Bipartisan Policy Center, says a lot of economists are worried the tariffs will actually do more damage than the CBO is predicting.

So Shia Kabbas, who's been keeping tabs on the tariffs at the Bipartisan Policy Center, says a lot of economists are worried the tariffs will actually do more damage than the CBO is predicting.

So Shia Kabbas, who's been keeping tabs on the tariffs at the Bipartisan Policy Center, says a lot of economists are worried the tariffs will actually do more damage than the CBO is predicting.

And the tariffs themselves have been really unpredictable as the president tries to negotiate with U.S. trading partners. So that presents another challenge, not only for forecasters, but more importantly, for the businesses and families who are trying to make decisions in this environment.

And the tariffs themselves have been really unpredictable as the president tries to negotiate with U.S. trading partners. So that presents another challenge, not only for forecasters, but more importantly, for the businesses and families who are trying to make decisions in this environment.