The phrase "built on tariffs, spending cuts, and tax cuts" (in the bond article above), relates directly to the economic philosophy and policies of Herbert Hoover.  Hoover supported protective tariffs to shield American industries and agriculture from foreign competition.  He signed the Smoot-Hawley Tariff Act (1930), which raised tariffs on over 20,000 imported goods.  The tariffs backfired when other countries retaliated with their own tariffs  >:( , [who coulda knowd?] It was the kickoff to the Great Depression.  Hoover attempting to balance the federal budget cut government expenditures and exacerbating economic hardship.  It is now a known fact that Keynesian economics stimulates the economy by increasing government spending and lowering taxes to boost aggregate demand during downturns.  Encouraging production and job growth.

Tariffs are a sales tax at the end of the day.  A regressive tax.  Trump has increased taxes on the MAGA economic class while he cuts taxes for the already monied.  Trump is doing a Hoover.

Get ready for the great depression 2.0  .  That picture was taken ten miles from where I am, and almost a hundred years ago.  Seattle's homeless know the area well.