{"id":313937,"date":"2025-08-03T07:22:12","date_gmt":"2025-08-03T07:22:12","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/313937\/"},"modified":"2025-08-03T07:22:12","modified_gmt":"2025-08-03T07:22:12","slug":"donald-trump-didnt-make-it-to-second-day-top-economist-schools-us-president-on-trade-and-spending-us-buzz","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/313937\/","title":{"rendered":"&#8216;Donald Trump Didn\u2019t Make It To Second Day&#8217;: Top Economist Schools US President On Trade And Spending | US Buzz"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/152399747.jpg\" alt=\"Donald Trump\" title=\"Donald Trump\"\/><\/p>\n<p>Trump had earlier claimed that the United States had been economically taken advantage of for nearly five decades, saying it was &#8216;ripped off&#8217; more than any other country in history. (Picture credit: AP)<\/p>\n<p><strong>Washington<\/strong>: Renowned economist Jeffrey Sachs openly challenged and dismantled US President Donald Trump\u2019s earlier claim that the United States had been &#8220;ripped off&#8221; economically for decades. The viral moment occurred during a panel discussion at the Antalya Diplomacy Forum, where Sachs responded to Trump\u2019s previously made remarks about trade deficits and global economic exploitation.<\/p>\n<p>Referring to Trump\u2019s earlier statement, \u201cThe United States has been ripped off like no country probably in the history of the world has been ripped off for 45-50 years\u201d, Sachs presented a contrasting viewpoint with clarity and precision.<\/p>\n<p>Sachs Counters Trump\u2019s Trade Narrative<\/p>\n<p>Sachs said, &#8220;If you take your credit card and go shopping and you run up a large credit card debt, you\u2019re running a trade deficit, with all those shops.&#8221;<\/p>\n<p>\u201cIt would be pretty strange then if you blame all the shop owners for having sold you all those things. \u2018You\u2019re ripping me off, you\u2019re ripping me off.\u2019 That is the level of the understanding of the President of the United States,\u201d he said. <\/p>\n<p>Trump Never Made It To Second Day, Says Economist<\/p>\n<p>Sachs said, \u201cThe trade deficit does not represent at all trade policies. It represents spending relative to production or earnings. We call that an identity. I teach it on the second day of my course in international monetary economics. Trump never made it to the second day.\u201d<\/p>\n<p>He said that the US trade deficit is not evidence of other countries \u201ccheating,\u201d but rather a reflection of America\u2019s own tendency to spend more than it earns:<\/p>\n<p>\u201cHe says, \u2018You\u2019re running a trade deficit and look, they\u2019re all cheating me.\u2019 But all that\u2019s happening is that the United States is outspending its national income,\u201d said the economist.<\/p>\n","protected":false},"excerpt":{"rendered":"Trump had earlier claimed that the United States had been economically taken advantage of for nearly five decades,&hellip;\n","protected":false},"author":2,"featured_media":313938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[1213,114409,51,114407,114408,1700,114406,47600,28701,16,15,49,114411,114410],"class_list":{"0":"post-313937","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-americas","9":"tag-antalya-diplomacy-forum","10":"tag-business","11":"tag-donald-trumps","12":"tag-economistsachs","13":"tag-economy","14":"tag-jeffrey-sachs","15":"tag-times-now","16":"tag-trumps","17":"tag-uk","18":"tag-united-kingdom","19":"tag-united-states","20":"tag-us-buzz","21":"tag-washington-renowned"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114963634258813378","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/313937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=313937"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/313937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/313938"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=313937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=313937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=313937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}