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President Trump has achieved a few goals. Border crossings by illegal migrants have declined by close to ninety percent. Military recruitment is up, with Army recruitment at 15-year highs. DOGE has exposed waste and fraud in many government agencies, and woke ideology is on the run. And, unlike the Biden years, we know who is in charge at the White House.
But in other respects Mr. Trump has been less successful. He is wrong, in my opinion, when he calls for the capitulation of Ukraine, and when he advocates for tariffs – a tax on American consumers. His on-again-off-again tariffs have wreaked havoc with the stock market, weakened the dollar, and caused a pause in the economy. A weak dollar would result in higher interest rates for U.S. Treasuries. While illegal migration poses cultural and dependency risks, globalization and a strong dollar have raised living standards, as the cost of consumables, measured in hours worked, have declined over the decades, due to manufacturing being done where it is most cost efficient, along with technological innovations. Stronger education standards, secure borders, and a tax code that encourages innovation and investment are what is needed, not barriers to free trade. And I fail to understand Mr. Trump’s love affair with cryptocurrencies.
This essay focuses on a few of the challenges we face. (There are, obviously, many others). Shakespeare’s three witches had filled their cauldron with fillets of fenny snakes, eyes of Newts, tongues of dogs, and other such delicacies, but the cauldron of which I write is filled with threats: federal debt and unfunded liabilities at record levels; interest rates that encourage borrowing and discourage savings; public schools that don’t educate; declining birthrates – a world-wide phenomenon; an imperialistic China; a revanchist Russia; a soon-to-be nuclear armed Iran; and, I would argue, an absence of moral judgement.