Victor Davis Hanson on Trump's First 6 Months: Experts Wrong on Tariffs, Immigration, and More

Unprecedented Territory in Trump's First Six Months

• 🗺️ The first six months of the Trump administration are described as entering unknown territory, characterized by "known unknowns."
• 🧠 Conventional wisdom and the predictions of "experts" regarding tariffs, foreign investment, military recruitment, and illegal immigration have been proven incorrect.

Tariffs as a Revenue Source

• 💰 Contrary to traditional economic theory, tariffs have generated significant revenue, exceeding $26 billion per month and potentially reaching $330 billion annually.
• 📈 This outcome suggests that countries exporting to the U.S. could absorb tariff costs while remaining competitive, a scenario experts did not anticipate.

Economic Indicators and Foreign Investment

• 📊 Federal revenues in May exceeded expenditures, a surprising development given the large national debt, attributed to tax cuts and seasonal revenue increases.
• 🚀 Foreign investment has reached unprecedented levels, with estimates as high as $15 trillion, a significant increase from previous periods.
• 💎 The value of U.S. natural resources like timber, coal, and rare earth minerals is estimated between $100 trillion and $200 trillion, presenting a significant untapped asset.

Military Recruitment and Immigration Successes

• enlistment challenges, the military saw a surge in recruitment after shifting its messaging to focus on battle efficacy and removing biases related to race or gender.
• 🚫 Illegal immigration has been drastically reduced, with numbers dropping from potentially 10,000 per day to as low as 126 in some months, a result of new deterrence policies and border pressure on Mexico.

Redefining Conventional Wisdom

• 💡 The administration's policies on tariffs, foreign investment, military recruitment, and immigration have defied established economic and political orthodoxy.
• ✨ The combination of these successes, alongside advancements in robotics and AI, and increased efficiency from regulatory cuts, suggests the potential for an impending economic boom.