Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

[Aldo Raine]

Trump's proposal is "a taxpayer-first budget," Mulvaney said, that will look to cancel or starve programs that the White House sees as ineffective.

"It is the first time in my memory that a budget has actually been written from the perspective, through the eyes of the people who pay taxes, as much as the folks who receive the benefits," he said.

"I can't look taxpayers in the eye anymore and say, 'You have to keep paying for this.' We can't afford it and we cannot justify to the people who are paying the taxes."

Trump's tax plan threw the middle class a crumb, and his wall st pals a steak

yet the great unwashed applauded him for it

he is a reganista to the core of his wall st soul

and none of it is going to be in the mid class back pocket

~S~

It was never meant to really help the middle class, all that chatter was simply theater for the rubes!

 

[edward37]

What these Repub morons don't get is that Trump shot his load Stimulated an economy that didn't need it and the AH will be all out of bullets when and if trouble comes our way and when he's looking to get elected again

 

[Vandalshandle]

I have decided to run as the Republican nominee in the next election.

We MUST eliminate the national debt! Vote for me, and I will do that by reducing taxes again!!!!!!!

 

[edward37]

I have decided to run as the Republican nominee in the next election.

We MUST eliminate the national debt! Vote for me, and I will do that by reducing taxes again!!!!!!!

""AND I WILL NOT hire ONE illegal immigrant"" And he didn't ,,,he hired many

 

[Flopper]

Trump is not interested in the budget deficit and the burgeoning government debt because he won't be in office when it blows up.

The biggest threat to government debt is rising interest rates which could make the debt self-fueling and unstoppable.

Trump ignorance of the government debt is negligence.

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up
The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.
Asawin Suebsaeng,
Lachlan Markay
12.05.18 10:32 AM ET

Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of the importance of tackling the national debt.

Sources close to the president say he has repeatedly shrugged it off, implying that he doesn’t have to worry about the money owed to America’s creditors—currently about $21 trillion—because he won’t be around to shoulder the blame when it becomes even more untenable.

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the national debt in the not-too-distant future. In response, Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

“Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.
“I never once heard him talk about the debt.”
— Former Senior White House official ...

He is completely correct.

Let's go back to FDR who had four terms, how much of his debt did he pay off?
Clinton who came closest to balancing a budget, how much did he pay down?
44 paid down how much?

For one moment let us consider something. If for the next six years we spent no more money to pay government employees, no money on the military, no money on welfare. If we spent every cent collected by taxes on paying down the debt we would still be in debt.

It is easy to talk about reducing the debt it is another thing entirely to reduce it. Some want more welfare, others want less. Some want more infrastructure spending, others want more spent on green energy. No one wants to make the real cuts to reduce spending. When ever there is talk of reducing benefits on anything there is a general outcry about how heartless it is.

If every Federal Reserve Note is borrowed into creation, where do you get the FRNs to pay the interest? You can't pull 11 marbles out of a bag that only contains 10. Putin kicked out the Rothschild and friends central bank and their debt is a pittance and isn't accruing due to a high interest rate. Shut down the Fed, audit it and return to an honest monetary system.

View attachment 233249

With acceptance of deficit financing and fiat money in the US, the government can create as much paper and electronic money as it needs to meet it's obligations. As long as people have faith in the future of the US economy and they feel their money is safe invested in US debt, the US can continue running deficits. However, if it becomes clear that future US economic growth is going to be subpar, then the US will have to pay higher interest rates from a shrinking tax base.

 

[kyzr]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

 

[CrusaderFrank]

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

“Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.

----------------------

Trump looting the country.

Asked about all the debt, he says he doesn't care because he won't be here when it blows up.

Sounds just like him.

Thanks, Obama

How EXACTLY is Trump raising the yearly deficits Obama's fault?

Pleassssssssssssssse!

 

[CrusaderFrank]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

He's got a Congress that is dedicated to dragging the country down

 

[ABikerSailor]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

He's got a Congress that is dedicated to dragging the country down

Trump is dragging the country down with his short sighted tariffs.

 

[kyzr]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

He's got a Congress that is dedicated to dragging the country down

True. It doesn't matter which party is in-charge either, both parties suck. The Joint Chiefs call the Debt the biggest danger facing the US, and Congress is worthless addressing it.

 

[kyzr]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

He's got a Congress that is dedicated to dragging the country down

Trump is dragging the country down with his short sighted tariffs.

What's your plan? To move to China when the US Debt explodes?
At least Trump is trying to bring manufacturing jobs back to the US, and have other countries treat the US fairly.

 

[edward37]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

He's got a Congress that is dedicated to dragging the country down

True. It doesn't matter which party is in-charge either, both parties suck. The Joint Chiefs call the Debt the biggest danger facing the US, and Congress is worthless addressing it.

Trump says Tillerson is ""dumb as a rock"" The CEO of Exxon

 

[ABikerSailor]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

He's got a Congress that is dedicated to dragging the country down

Trump is dragging the country down with his short sighted tariffs.

What's your plan? To move to China when the US Debt explodes?
At least Trump is trying to bring manufacturing jobs back to the US, and have other countries treat the US fairly.

Tell that to the GM workers who were told just before Thanksgiving that their jobs are going to Mexico. Trump did really good on that one.

He also did a bang up job of keeping Carrier jobs here as well, didn't he?

 

[sparky]

He also did a bang up job of keeping Carrier jobs here as well, didn't he?

 

[Flopper]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

We don't need to bring down the debt we just need to stop adding to it.

 

[kyzr]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

He's got a Congress that is dedicated to dragging the country down

Trump is dragging the country down with his short sighted tariffs.

What's your plan? To move to China when the US Debt explodes?
At least Trump is trying to bring manufacturing jobs back to the US, and have other countries treat the US fairly.

Tell that to the GM workers who were told just before Thanksgiving that their jobs are going to Mexico. Trump did really good on that one. He also did a bang up job of keeping Carrier jobs here as well, didn't he?

The economy is doing well, and at least Trump is trying to bring jobs back. What did the dems do to try and keep jobs here in spite of unfair foreign trade practices?

Here is a video of Obama saying that manufacturing jobs are "not coming back"...

 

[Denizen]

Ignoring the Debt is Trump's biggest flaw. If he would fix the entitlements, which he swore not to touch, and/or add a new Fed sales tax to generate income, that would fix the Budget Deficit and start paying down the Debt.

We don't need to bring down the debt we just need to stop adding to it.

With interest rates rising debt will rise whether or not it is 'added' to.

 

[Synthaholic]

A. Spending was insane before he even entered the race,

B. Congrsss spends money.

Correct. All funding originates in the House. Therefore, the House is responsible for the debt.

Who controlled the House for 19 of the past 23 years?

 

[Synthaholic]

Thanks, Obama

For the great economy he handed Trump, that trump is driving into recession?

 

[kyzr]

Thanks, Obama

For the great economy he handed Trump, that trump is driving into recession?

The economy was losing its manufacturing base to unfair foreign competition. Trump, to his credit, is trying to level the playing field. The Fed is driving the economy into recession by raising rates too fast. Recessions and corrections happen, they are normal. We'll see how the economy is doing in 2020....