Despite Trump's Tariffs, The U.S. Trade Deficit Rises

The Commerce Department reported this week that the U.S. trade deficit rose to a 5 month high in May, 8.4%, $55.5 billion the highest since December 2018.  The nations exports increased 2% while imports increased 3.3%.  The increase in imports was mainly attributed to the import of crude oil and cellphones.  The deficit in trade goods with Mexico rose 18.1% and with China it rose 12.2%.  So the trade deficit continues to increase on Trump's watch despite his tariffs, his rhetoric, his tax cuts, his lies and his threats.

America still has an appetite for imported goods because America can not alone take care of her domestic needs.  The void is being filled by foreign goods.  Giving American business huge tax cuts and special loopholes do not result in business expansion.  That should be fresh in the peoples mind since it has been reported that the Trump-GOP tax cuts were used by corporations to buy back their own stock.

Unfortunately, voters have allowed themselves to be influenced by Trump's tariffs and rhetoric.  Farmers and consumers are paying the price and as of this writing, the Clinton administration had the best all around economy even though Clinton raised corporate taxes and on those making over $200,000 a year.  Plus Clinton balanced the federal budget, something no republican President has accomplished since President Eisenhower in 1960,

The fact that the U.S. imported more crude oil and cellphones that added to May's trade deficit, should tell us something.  Is anyone listening?


This commentary written by Joe Lorio

New Orleans Tourist Visitors Report for 2018: The Most Important Stat Was Missing

In a Times Picayune article dated 6/30/19 by Jennifer Larino titled, City Drew 11.6 million visitors last year, UNO reports told of a study by UNO's Annual Visitor Survey that reported the following:  (1)  New Orleans hosted 11.6  million visitors in 2018, up 5.5% from last year in 2017 that drew just under 11 million.  (2)  Visitors spending was $8.3 billion, up 11.7% from 2017.  (3)  The increases marked another year of growth for the city.  Those numbers tell a good story.

But the most important story was absent from the report.  And that story should have been how much sales taxes did that $8.3 billion of spending generate for the city treasury.  And then check and see if those taxes were collected by the city.  Certainly UNO has a way to calculate the answer just like they came up with the tourist information above.  And like wise, the City of New Orleans has a way of telling if they collected those taxes.

It should be obvious to everyone why it is so important to know the answer.  In fact, this writer thinks it is a question UNO should have been asked before the paper ran the story.  After all, tourism is just another business that produces tax revenues in order to fund the city's needs and the people have a right to know the tax numbers and be informed.


This commentary written by Joe Lorio