SMM News: February 15, Trump finally took the craziest step: the declaration of a "state of emergency" on the southern border of the United States! And this is only to raise money to build the US-Mexico border wall!
Democratic leader Pelosi and Senate Minority Leader Schumer subsequently issued a joint statement accusing Trump of abusing his power, and the House Judiciary Committee said it would investigate Trump's urgent statement. Even some Republican lawmakers have joined the anti-Trump ranks, and for a moment Trump has fallen into a state of "betrayal."
A state of emergency is a power that the Constitution gives the president to use when the country enters a state of last resort. Under a state of emergency, the president of the United States will open the door to power, adding a yellow robe, and instantly adding 136 legal emergency powers. For the president to deal with the state of emergency, and Trump has been salivating over this power for a long time, has been threatening the Democratic Party to submit, but the Democratic Party just refused to agree, and the dispute between the two sides led to the closure of the US government for 35 days. Another blow to the struggling economy of the United States. It is estimated that the United States in the fourth quarter of 2018 GDP may be only 2%, down 1.4% from the third quarter, compared with the second quarter halved! Trump's obsession is beyond the imagination of the people!
While Trump is in high spirits to build the wall, the US government is heavily in debt. So far, the US national debt has exceeded $22 trillion, while the 2017 US GDP is only $19 trillion! This debt is simply astronomical. The United States cannot repay it at all. Needless to say, it is difficult for the United States to repay the interest. In other words, the US government has given up and broken the pot. According to the latest monthly budget report, the US Treasury had total revenue of about $313 billion in December, compared with monthly spending of about $326 billion, and the US government's budget deficit widened to $319 billion in the first quarter of fiscal 2019 (October-December 2018). This is more than 40% higher than the $227 billion in the same period last year! The budget deficit is expected to continue to grow and exceed $1 trillion by 2022, according to the Congressional Budget Office (CBO). This is partly because of President Donald Trump's $1.5 trillion tax cuts and an increase in government spending.
The United States is now borrowing as much as drug abuse, and Greenspan says it is entirely possible that the expansion of debt could lead to the next recession. From the debt curve, debt growth is accelerating, such a rate of rise may make the back cool, once beyond a certain threshold, I am afraid to usher in Minsky moment, is the collapse of wealth. Trump is also very afraid, so he is very concerned about American employment, and the sharp tax cuts have left American enterprises free to work and fuel to create wealth. On the other hand, he has gone around to settle accounts with allies, settle accounts with China, and withdraw troops from Afghanistan. The whole world gets what it takes. Amid recent concerns about high tariffs on imported cars, German Chancellor Angela Merkel said Germany was proud of its cars and shocked by the US's perception of them as a security threat. If the United States does impose tariffs of up to 25 percent, it will undoubtedly be a bolt from the blue to Japan, the European Union, and South Korea, and a heavy blow to the world economy. I hope Trump will stop risking the public opinion of the world and do something harmful to himself.
