The Text Item allows you to add text boxes to your page
The text editor is the only setting for the Text Item. It will allow you to add content as well as customize the look of that content using the editor toolbar.
Changing these settings will add space to the OUTSIDE of an item.
Changing these settings will add space to the INSIDE of an item.
These spacing settings can be adjusted for all 3 device sizes, allowing you to have more control over your page on both desktop and mobile devices.