The $291 Billion Lie: Trump’s Tariff Fantasy Meets Fiscal Reality Commerce Secretary Howard Lutnick got up on CBS’ Face the Nation last month and said—without flinching—that tariffs were bringing in $30 billion a month to “pay off our deficit.” Cute story, Howard. But here’s the punchline: July’s Treasury report shows the government spent $629 billion while only bringing in $338 billion. That’s a $291 billion hole—nearly two dollars out for every one in. Tariffs aren’t paying down squat. They’re pocket change in a regime hemorrhaging capital like a gut-shot mule. July Spending Breaks Records… Again That $629 billion spent? It’s the highest July spending in American history—beating even the stimulus-fueled bloodbath of 2020. And yes, that was during peak lockdown…

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