In an interview on Power & Politics, (David Paterson, Ontario’s representative in Washington) told host David Cochrane that the Canadians and Americans had a 90-minute meeting and the first half-hour was “a master class” from Lutnick in breaking down the U.S. position on tariffs.

The focus of the U.S. government is dealing with its yearly deficit in federal spending, Paterson said. According to the U.S. Treasury Department, the federal government ran a $1.83 trillion US deficit in the 2024 fiscal year.

There are three ways the U.S. government is working to cut down that deficit, Paterson added.

The first is a major budget resolution that calls for billions of dollars in tax cuts, and the second is slashing the size of government through Elon Musk’s Department of Government Efficiency. The third is tariffs, which are meant to be a new revenue source and attract investment into the United States.

  • Yoga@lemmy.caEnglish
    21·
    16 hours ago

    There are three ways the U.S. government is working to cut down that deficit, Paterson added.

    The first is a major budget resolution that calls for billions of dollars in tax cuts

    Any good financial planner will tell you if you want to get out of debt, step one is decreasing your income

    • shawn1122@lemm.eeEnglish
      8·
      11 hours ago

      They’re trading ‘tax’ for ‘tariff’ because greater than 50% of the American populace reads at less than a grade 6 level and will think “China pays for it!” when it comes to tariffs, all while getting reemed paying more for utilities and groceries.

        • shawn1122@lemm.eeEnglish
          1·
          9 hours ago

          Sorry I was using the colloquial term for getting fucked from behind in an unpleasant way which may be regional.

          Sounds like ream can refer to being cheated or victimized which would work too but wouldn’t have the same oomph.

          Amazing how flexible language can be when you can read at higher than a grade 6 level.

          • Revan343@lemmy.ca
            2·
            9 hours ago

            They are both spelled ‘ream’; the slang term comes from the tool, which is inserted into a pipe or hole and rotated to deburr or enlarge the hole

            Compare “reaming someone out” to “chewing someone out” and “chewing someone a new asshole”