Thursday, August 7th is now tariff day, postponed recently from August 1st and originally from Liberation Day in April. Despite delayed execution, tariffs, in combination with the One Big Beautiful Bill, are central to Making American Great Again. Some may be surprised that MAGA is a plan, not just a slogan.

Last month’s Monthly Treasury Statement showed tariff revenue running already at annual rate of $324 billion, or $3.2 trillion over the next decade. In early June, the Congressional Budget Office scored Trump’s emerging tariff regime at $3.0 trillion over the decade. President Trump has just struck a trade agreement with the European Union. These admittedly preliminary results and estimates reflect revenue that offsets almost completely the $3.4 trillion increase in deficits and debt that the CBO ascribes to the OBBB.

In pure dollar terms, this should calm deficit hawks.
With the OBBB rewarding income generation and tariffs penalizing consumption, the combo is revolutionary in modern times.













