The David Lin Report Why You're Getting Poorer: Major Slowdown Ahead | Donald Boudreaux
Jun 18, 2025
Donald Boudreaux, an economics professor at George Mason University, dives into the impact of tariffs on economic growth, warning that they threaten prosperity. He dispels the myth that American capitalism is in decline, attributing job losses more to technology than trade. Boudreaux also highlights the dangers of rising budget deficits, discussing how they could burden future taxpayers and lead to crises. Plus, he offers career advice for graduates navigating a challenging job market influenced by trade wars and AI.
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Tariffs Slow Economic Growth
- Trump's tariffs will slow U.S. economic growth noticeably but won't reverse living standards to past decades.
- Tariffs disrupt global supply webs, inevitably dragging economic growth down.
Limits on Presidential Tariff Power
- The U.S. president does not have unlimited power to impose tariffs; this power belongs largely to Congress.
- Trump's recent tariffs likely exceed his legal authority and may be struck down by courts.
Job Loss Myth Debunked
- The claim that China stole American jobs is not supported by data.
- Decline in U.S. manufacturing jobs is mainly due to mechanization, not trade.
