Trump the Keynesian

[NightFox]

Source: CNBC.COM
Story: Trump: Debt and deficits will rise, but it's all in the name of growth

Yet another borrow & spend Republican POTUS, just what we needed, as if debt accumulation hasn't gone far enough we have yet another Krugmanite in Republicrat clothing ready to rack up debt at an accelerated pace, right into the teeth of a rising interest rate environment.

Shouldn't be surprised though since just about everything he said he believed in on the campaign trail turns out to be bullshit.

""it is OK, because it won't increase it for long. You may have two years where you'll … you understand the expression 'prime the pump'?" Trump said

'Prime the pump' apparently the Donald has been drinking long and deep from the fountain of John Maynard Keynes... yet .... doesn't appear to even know about or understand Keynes.

"Interestingly, Trump said he was unfamiliar with "prime the pump" in economic terms.


"Have you heard that expression used before? Because I haven't heard it," he said. "I mean, I just … I came up with it a couple of days ago and I thought it was good. It's what you have to do."

Increasing debt service costs and inflated federal spending baselines will eventually wipe out any short term economic growth gains. Tax cuts can't work either since increasing deficit spending while cutting tax rates just shifts taxes into the future.

Yet the Donald ran on deficit reduction and fiscal discipline, yeah right.

 

[Siete]

Hey, inventing an 84 year old phase is hard work, give his sorry lying ass some credit.

 

[Mac1958]

'Prime the pump' apparently the Donald has been drinking long and deep from the fountain of John Maynard Keynes... yet .... doesn't appear to even know about or understand Keynes.

The only thing that surprises me at this point is how much faith people put in these folks.
.

 

[Norman]

Trump needs to keep his promise of making America great again. That doesn't come cheap, but I would say it's worth it.

Just consider, if Hillary was president this money would be spent on gender studies, investigating how and why white men are a basket of deplorables.

 

[Siete]

Trump needs to keep his promise of making America great again. That doesn't come cheap, but I would say it's worth it.

Just consider, if Hillary was president this money would be spent on gender studies, investigating how and why white men are a basket of deplorables.

yeah right, If Clinton was the prez and she tried to feed you the same shit Trump's feeding you, you would be shittin' bricks, and farting gravel ...

 

[wihosa]

Trump's Chumps think you're accusing him of being born in
Kenya!

 

[Theowl32]

Trump's Chumps think you're accusing him of being born in
Kenya!

What do obama's chimps think?

 

[Siete]

Trump's Chumps think you're accusing him of being born in
Kenya!

What do obama's chimps think?

take a wild guess ... who is the POTUS ?

 

[Theowl32]

Trump's Chumps think you're accusing him of being born in
Kenya!

What do obama's chimps think?

take a wild guess ... who is the POTUS ?

Holy shit

 

[The Sage of Main Street]

Source: CNBC.COM
Story: Trump: Debt and deficits will rise, but it's all in the name of growth

Yet another borrow & spend Republican POTUS, just what we needed, as if debt accumulation hasn't gone far enough we have yet another Krugmanite in Republicrat clothing ready to rack up debt at an accelerated pace, right into the teeth of a rising interest rate environment.

Shouldn't be surprised though since just about everything he said he believed in on the campaign trail turns out to be bullshit.

""it is OK, because it won't increase it for long. You may have two years where you'll … you understand the expression 'prime the pump'?" Trump said

'Prime the pump' apparently the Donald has been drinking long and deep from the fountain of John Maynard Keynes... yet .... doesn't appear to even know about or understand Keynes.

"Interestingly, Trump said he was unfamiliar with "prime the pump" in economic terms.


"Have you heard that expression used before? Because I haven't heard it," he said. "I mean, I just … I came up with it a couple of days ago and I thought it was good. It's what you have to do."

Increasing debt service costs and inflated federal spending baselines will eventually wipe out any short term economic growth gains. Tax cuts can't work either since increasing deficit spending while cutting tax rates just shifts taxes into the future.

Yet the Donald ran on deficit reduction and fiscal discipline, yeah right.

It's Not a Part-Insane Partisan Choice Between Statism and Selfism

Kochists lost in the primaries, get over it. Elections have consequences. Spending is only destructive if wasted on people who produce nothing back, just like giveaways to worthless mooching heirs in the private sector.

 

[yiostheoy]

Everyone since Andrew Jackson has been Keynesian -- even before Keynes.

 

[NightFox]

Trump needs to keep his promise of making America great again. That doesn't come cheap, but I would say it's worth it.

Making America a "great" what? a great cautionary tale on what happens when nations accumulate excessive debt, structural deficits and over reliance on central government borrow & spend fiscal stimulus? Heck even Keynes didn't recommend debt based fiscal stimulus in an environment of excessive debt and structural deficits.

This isn't how one goes about making a nation great, this is how one goes about destroying a nations future prosperity, history is littered with once great nations that ignored the long term and borrowed, devalued and spent themselves into oblivion pursuant to short term "vote buying".

Just consider, if Hillary was president this money would be spent on gender studies, investigating how and why white men are a basket of deplorables.

This thread isn't about Madame Has Been, nor is it about binary choices between douche bag-D and douche bag-R, being "better" than Her Majesty the Duchess of Whitewater makes absolutely no difference, the Donald is POTUS he can make the choice to focus his efforts on leading based on the LONG TERM financial well being of the nation rather than thinking about SHORT TERM vote buying which in the past has led to nothing but mal-investment, accumulation of debt and increased federal spending baselines.

Cutting federal taxes and simplifying the tax code is great, however it doesn't mean much for the long term if spending isn't cut pursuant to balancing the federal budget. Federal spending rises based on baselines and increasing the accumulated debt pushes those baselines even higher due to increased debt service costs, taxes inevitably go up in the future because those costs have to be paid. Not only that but you have the crowd out effect that federal borrowing has on the private sector AND the risk to the stability of the dollar that excessive debt and debt accumulation entails, heck we just had 2 fed auctions last week with extremely weak buyer interest, how long do we think we can keep pushing it without a serious negative event happening, like the failure of a fed auction?

 

[Harpy Eagle]

Lost in all this was that he lied and said that we are the highest taxed nation in the world.

 

[NightFox]

Lost in all this was that he lied and said that we are the highest taxed nation in the world.

What are you basing that assertion on and how are you calculating it?

Also note, what other nations do is immaterial, the United States has it's own unique traditions, culture, institutions, demographics and political structure not to mention our self declared role as the worlds top cop, there's no apples-to-apples comparison.

 

[Iceweasel]

If he didn't sign the bill into law the left would have accused him of shutting down the government. So three months in and the whole government is supposed to be different or he's failed? That's why no one with a brain can take liberals seriously anymore.

 

[whitehall]

Isn't a Keynesian someone who was born In Kenya? If so you have the wrong president.

 

[NightFox]

If he didn't sign the bill into law the left would have accused him of shutting down the government. So three months in and the whole government is supposed to be different or he's failed? That's why no one with a brain can take liberals seriously anymore.

What the fuck are you babbling about? this thread and the article that was linked in the OP don't have anything to do with the FY 2017 Omnibus, That was largely a result of congressional negotiations that took place during the Obama Presidency.

It's about all the increase in spending proposals that President Twitter wants to put in the pipeline and his Administrations stance that it will only increase the deficit "in the short term" pursuant to debt based fiscal stimulus ("Priming the pump") which is a page right out the modern progressive hyper-Keynesian play book.

 

[NightFox]

Isn't a Keynesian someone who was born In Kenya? If so you have the wrong president.

Someone who as born in Kenya is called a Kenyan, Someone who subscribes to the economic theories of John Maynard Keynes is commonly referred to as a Keynesian.

 

[Iceweasel]

If he didn't sign the bill into law the left would have accused him of shutting down the government. So three months in and the whole government is supposed to be different or he's failed? That's why no one with a brain can take liberals seriously anymore.

What the fuck are you babbling about? this thread and the article that was linked in the OP don't have anything to do with the FY 2017 Omnibus, That was largely a result of congressional negotiations that took place during the Obama Presidency.

It's about all the increase in spending proposals that President Twitter wants to put in the pipeline and his Administrations stance that it will only increase the deficit "in the short term" pursuant to debt based fiscal stimulus ("Priming the pump") which is a page right out the modern progressive hyper-Keynesian play book.

I explained what I was talking about. You set out to slander the president for spending and I corrected you. It isn't my fault you have scrambled brains and can't follow what you don't already agree with.

Trump ran on increased military and infrastructure spending. You just found out?

 

[NightFox]

If he didn't sign the bill into law the left would have accused him of shutting down the government. So three months in and the whole government is supposed to be different or he's failed? That's why no one with a brain can take liberals seriously anymore.

What the fuck are you babbling about? this thread and the article that was linked in the OP don't have anything to do with the FY 2017 Omnibus, That was largely a result of congressional negotiations that took place during the Obama Presidency.

It's about all the increase in spending proposals that President Twitter wants to put in the pipeline and his Administrations stance that it will only increase the deficit "in the short term" pursuant to debt based fiscal stimulus ("Priming the pump") which is a page right out the modern progressive hyper-Keynesian play book.

I explained what I was talking about.

Yeah that's the problem, you demonstrated that you had no clue what you were talking about with respect to the premise of thread, next time read the article so you can avoid demonstrating it again.

You set out to slander the president for spending and I corrected you.

You didn't correct anything Professor, all you accomplished was reinforcing my opinion that you reflexively defend your partisan masters without bothering to check the details of what's actually going on around you.

Ciao