The Daly Weekly (8/8)

Tariffs, RFK Jr., Loni Anderson, and more!

Hi everyone.

Welcome to this week’s Daly Weekly, where I answer whatever questions you throw my way.

Let’s get right to it…

Now, let’s get to this week’s questions… and my answers.

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Have you changed your opinion on Tariffs at all? — Tim H.

No. And I’m a bit surprised, Tim, that you thought I might have. Or maybe you were just trying to trigger me. If so, mission accomplished, sir! 😉

Here’s what doesn’t surprise me: Trump and many of his supporters have been hailing decent second-quarter economic growth… without bothering to acknowledge that Trump largely pulled back on his most crippling tariffs weeks earlier. And why did he do that? Because his “Liberation Day” asininity caused all kinds of chaos with the stock market and distribution channels, and was beginning to do the same with the bond market. We were headed toward a legitimate economic crisis, which was entirely of one man’s making. Now, Trump is taking a victory lap because he turned the steering wheel at the last second (when there was no reason for him to be speeding our economy toward a cliff in the first place).

Regardless, we’re still very much on the wrong course. The remaining tariffs (that Trump just started adding to again) are causing significant problems and working against the U.S. economy.

Here’s a quick illustration of where the trade war has taken us so far:

If that chart looks familiar to some, it’s because it mirrors a popular online meme that started making the rounds weeks ago, and ended up predicting exactly how Trump and his supporters would present the second-quarter numbers:

There’s more…

American companies including Ford are already reporting net losses as a result of the tariffs, the U.S. manufacturing sector is bleeding jobs, the cost of food for Americans (among other items) continues to rise (75% of U.S. food imports are affected by Trump’s tariffs), and we’ve had the highest number of U.S. job-cuts in the first half of this year since the opening months of the pandemic — a number that Trump actually fired the commissioner of the U.S. Bureau of Labor over, just for reporting it. Not to mention that we continue to screw up our relationships with once reliable trade partners (many of whom are now turning to China), while growing our trade deficit (which was Trump’s previous argument for the trade war).

Trump’s other economic bragging point is the $150 billion in tariff revenue, which came not from foreign countries (which he and his surrogates still falsely claim), but from U.S. taxpayers and American consumers. It used to be only the Democrats who boasted about raising Americans’ taxes. Now both parties do it, with some in the GOP proposing sending checks to Americans to help them deal with rising costs (that have been needlessly caused by the leader of their party). It’s insane.

Tim, you and I have talked about the reality of, after decades of allowing our national debt to spiral out of control (it just passed $37 trillion), taxes needing to be raised as part of the solution. But tariffs are among the least effective tax hikes because they create more economic damage per dollar of pretty much every other type of tax. The more significant part of the problem is (and has always been) spending, which both parties, as you know, have only ratcheted up.

So, in summary: Tariffs still suck. The more of them that are repealed by the courts (I’ve given up hope on Congress doing its job here), the better it will be for our country. For those interested in the true effects of tariffs on the United States (you’re not going to hear many on Fox, Newsmax, etc.), I would recommend following the CATO Institute’s Scott Lincicome on X. He reports the numbers (and closures) in real time.

John: I listened to last week’s “No BS Zone” with you and Bernie. Bernie was adamant that this congressional investigation into the “Politburo” (Jake Tapper’s term) was designed to do nothing more than embarrass Biden, and Bernie said he was sick of it. I disagree with Bernie. This investigation isn’t about Biden, who is gone from the political scene for good. It’s about the cabal of doctors, chiefs of staff and others in Biden’s close orbit who conspired to keep Biden’s condition a secret, including bald face lying to others in the administration and the public. The House Oversight Committee is making sure those handlers are held to account and that they do not have prominent roles in future administrations. This is a good and proper role for this committee. We don’t want the mysterious Otto Penn setting policy or signing pardons. You were fairly quiet in your response. Now that a week has passed, do you agree with me or with Bernie? — Steve R.

Hi Steve. Thanks for listening. From my understanding, the congressional investigation is into the conduct of those surrounding Biden, not Biden himself (though I’d welcome insight into Biden’s actions and thinking as well). So yes, I agree with you. And like I said in the episode, I think such an investigation is worthwhile for the purpose of accountability and the public record.

That said, I do share Bernie’s skepticism that the GOP Congress will take the investigation seriously. For example, I was all-in for the Benghazi investigation because I believed we needed answers. But, as I wrote at the time, I thought the GOP totally botched it. All most Republicans who participated in it wanted to do was grandstand. There were some relevant findings, of course (and that was good), but it was mostly a wasted effort… and ultimately came across like a partisan stunt. The January 6 investigation was different. It was serious (albeit not perfect), though the Republicans (except for a handful) went to great lengths to assure it was partisan. I’d love to see the GOP take the current investigation seriously, but I’m not confident they will.

What are your thoughts on RFK Jr. cancelling $500 million in mRNA vaccine contracts, and using “science” as his rationale? — Ben G.

Per usual, Kennedy isn’t following actual science. He’s making highly consequential health decisions based on his gut instincts, conspiracy theories, and rhetorical anecdotes (many of which aren’t true)… and declaring them “Science!” I can’t emphasize enough just how little Kennedy knows about the arena he contends to be an expert in, and how absolutely insane it was to put an anti-vaxx conspiracy-nut with no medical background in charge of HHS.

Regardless of how one feels about mandates, mRNA vaccines are an extraordinary medical breakthrough. They likely saved millions of lives world-wide during the pandemic, and they can be created and customized quickly to deal with new diseases. Kennedy’s move will put us well behind other countries in the area of biotech, and the treatment of cancerous and infectious diseases. And if that’s not bad enough, the tax-payer funding was largely already invested in these projects. In other words, we’re effectively flushing any progress that was made (and paid for) right down the toilet.

I saw your Xpost about taking a picture of a couple becoming engaged and giving it to them. Were you worried they would think that was creepy? — Alex D.

Ha! No, but my wife (who was with me) did.

For those who don’t know what we’re talking about (which is probably all of you), my wife and I hiked up to a mountain lake (called Gem Lake) in Rocky Mountain National Park last weekend. At the top, I was taking some pictures…

… when I happened to notice a guy proposing to his girlfriend on the other side of the lake. I snapped a couple pictures of the special moment…

Then I walked over, congratulated the couple, and asked if they wanted the photos. They very much did, so I texted them to them.

As I said, my wife gave me a hard time about it (as with a lot of things). But as you know, Alex, I’m all about bringing smiles to people’s faces. 😉 They can share that moment with others now.

Sir John: Since it’s been a long time since we’ve heard from John D., I’m gonna change direction this week. What are your thoughts on the death of Loni Anderson? Do you think Herb Tarlek is chasing her around in heaven? Is she finally getting coffee for the Big Guy (Mr. Carlson not Joe Biden)? Is Johnny Fever riding the rails on the “Crazy Train” with Ozzy? Last but not least: Bailey or Jennifer? — “WKRP” regards from The Emperor

Hi Emperor. I don’t have strong feelings about Anderson’s death; just general sympathy for her family and friends. The only time celebrity deaths really give me pause is when two criteria are met: the person was taken well before their time, and their work made an emotional connection with me. I think the last celebrity whose death really shook me was Dolores O'Riordan of The Cranberries. It, perhaps weirdly, still weighs on me from time to time.

That said, I loved WKRP in Cincinnati when I was a kid. The show had a great ensemble cast, including Anderson. They unfortunately don’t make shows like that anymore. As for your last question: I was on Team Bailey.

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Thanks everyone! You can send me questions for next week by leaving a comment in the comment section.