Tariffs' Economic Impact and Deficit

Chuck Todd argues that the United States is in an especially precarious moment of Trump's presidency — but that the guardrails of American democracy are proving they still exist. Todd breaks down the ruling's implications, noting that without tariff revenue the already ballooning U.S. budget deficit will accelerate, and that the coming chaos over refunds for billions in illegally collected duties will be a mess for businesses, consumers, and the trade deals that were negotiated under a now-invalidated framework. He highlights the emerging three distinct wings of the Supreme Court — with Gorsuch writing a pointed concurrence calling out his colleagues, Kavanaugh dissenting on foreign policy grounds, and the liberal justices joining Roberts on textual grounds — and argues the ruling reflects the public's own disapproval of Trump, which a new poll now places at 60% disapproval. He reserves his sharpest commentary for Trump's reaction: rather than pivot, the president attacked his own Supreme Court appointees for disloyalty and accused the Court of "foreign influence," a response Chuck calls a gift to Democrats and a sign that Trump is terrified dissent will become contagious among Republicans. Chuck also cautions that Democrats shouldn't celebrate too much — their brand remains damaged despite Trump's cratering numbers — and offers a counterintuitive observation: that Trump's greatest weakness isn't his authoritarian instincts but his laziness, arguing that his reliance on emergency powers is a shortcut to avoid the hard work of legislating.

Finally, Chuck hops into the ToddCast Time Machine to revisit the Reichstag fire & how Hitler was able to turn Germany’s democracy into a dictatorship through the use of emergency powers he was granted. He also answers listeners’ questions in the “Ask Chuck” segment.

Go to  https://zbiotics.com/CHUCKTODDCAST and use CHUCKTODDCAST at checkout for 15% off any first time orders of ZBiotics probiotics.”

Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/chuck. Application times may vary. Rates may vary.

Thank you Wildgrain for sponsoring. Visit http://wildgrain.com/TODDCAST and use the code "TODDCAST" at checkout to receive $30 off your first box PLUS free Croissants for life!

Link in bio or go to https://getsoul.com & enter code TODDCAST for 30% off your first order.

American Finance Disclaimer: NMLS 182334, nmlsconsumeraccess.org. APR for rates in the 5s start at 6.196% for well qualified borrowers. Call 866-885-1081, for details about credit costs and terms. Or https://apply.americanfinancing.net/thechucktoddcast

Timeline:

(Timestamps may vary based on advertisements)

00:00 Chuck Todd’s introduction

02:45 We are in an especially precarious moment of Trump’s presidency

7:15 Supreme Court tariff ruling shows the guardrails still exist

8:00 Without tariffs, U.S. budget deficit will grow even faster

9:45 Trump plans on going down with the ship, may sink GOP

11:45 Courts ruling wasn’t surprising, tariff authority belongs to congress

13:15 Gorsuch called out his colleagues in his opinion

14:45 Kavanaugh’s dissent argued tariffs as a foreign policy issue

16:45 There are three distinct wings in this Supreme Court

18:30 Ruling reflects the public's disapproval of Trump

20:00 We saw tariff price spikes in Q4, ruling would help GOP

20:45 Trump’s response was to attack his own appointees for disloyalty

22:30 Trump lashed out, afraid dissent will become contagious

23:30 Trump accused SCOTUS of “foreign influence”

26:00 Trump is too lazy to become one of history’s worst autocrats

27:45 Trump’s laziness is his greatest weakness

29:15 Emergency powers are a shortcut to avoid legislating

30:45 Chaos is coming, people will want refunds for illegal tariffs

32:30 Consumption taxes put the burden on lower income people

34:00 Fallout from the ruling will be a mess for businesses

34:45 What will happen to trade deals that were cut based on illegal tariffs?

35:15 Trump has alienated every major ally the U.S. has

36:15 Trump is vulnerable to Republicans walking away from him

38:30 Trump reaction to tariffs was a gift to the Democrats

40:15 New poll shows Trump’s disapproval at 60%

41:45 Democrats brand still bad despite Trump’s terrible approval

52:30 ToddCast Time Machine - February 27th, 1933

53:00 Reichstag fire gave Hitler emergency powers

53:45 Germany’s economy had been devastated

55:00 In three years, Germany cycled through three unstable governments

56:00 German elites thought they could use Hitler’s popularity & manage him

57:00 Whether Nazi’s helped, or just exploited the fire is still debated

58:15 Reichstag Fire decree suspended civil liberties

59:30 Enabling Act allowed Hitler to legislate without parliamentary approval

1:00:15 The German dictatorship was created via constitutional rules

1:01:30 Emergency powers aren’t always authoritarian, it’s who uses them

1:02:30 Ask Chuck

1:02:45 Why does populism lead to antisemitism?

1:06:15 Is this the administration that’s run the most like a business?

1:11:30 Starting to see Republicans breaking with Trump?

1:13:30 What if the Constitutional Convention had not been held in summer?

1:16:30 Thoughts on Gallup ending presidential tracking, NJ-11 election?

1:23:30 Need for regulation on prediction markets

1:25:30 What’s going on with Virginia’s redistricting effort?

1:30:30 Does international diplomacy have a greater impact on the president's legacy?

See omnystudio.com/listener for privacy information.