The Con-Man said he would 'eliminate' the Nat Debt..In 8 yrs, he would ADD $9.1 Trill

[Common]

Why is it that the rabid right can compromise their principles so quickly in order to continue to support Trump?

It could be because they're hypocrites or it could be because the Dem party is just more of the same establishment that is ripping them off?

Americans are going to break free of the hold the 1% or 2% has on them when they finally come to realize that it has to be either Bernie or somebody that talks the same language.

Bernie is a communist socialist MORON and a windbag, he will not be potus. He has insane idiotic ideas, like convicted terrorists should be allowed to vote like the Boston Bomber and medicare for all which is impossible to pay for.

[Ethereal]

Trump has reversed himself on most of his major campaign themes. Many of his supporters don't seem to care or even notice. And when they do notice, the excuses and equivocation aren't far behind. It's ALWAYS someone else's fault. Or it's Trump playing 3D chess. Trump is NEVER to blame.

[stjames1_53]

Trump has reversed himself on most of his major campaign themes. Many of his supporters don't seem to care or even notice. And when they do notice, the excuses and equivocation aren't far behind. It's ALWAYS someone else's fault. Or it's Trump playing 3D chess. Trump is NEVER to blame.

business is good, but the immigration problem is over in the democrat's camp. They refuse to do anything about it except try to block Trump from doing what is necessary
https://nypost.com/2019/04/27/pundit...economy-soars/
Those were the two only things I really care about

[donttread]

What do you think would happen if mid-way through his second term, sometime in 2022 say, Trump just told the rest of the world that they weren't going to get one single dime of money from us anymore against our the debt and they could just eat it?

What are they going to do? Half or more of their wealth owes to everything they've stolen from the US anyway. $#@! 'em.

He'd probably be reelected to a third term, that's what would happen.

Stolen from us? What do you mean?

[donttread]

Uh, oh! This is going to leave a mark!

• During the 2016 presidential campaign, Republican candidate Donald Trump promised he would eliminate the nation’s debt in eight years. Instead, his budgets would add $9.1 trillion during that time. It would increase the U.S. debt to $29 trillion according to Trump's budget estimates.
  
  
  Trump’s Two Strategies to Reduce the Debt
  
  Candidate Trump had two strategies to reduce the U.S. debt. He promised to grow the economy 6 percent annually to increase tax revenues. But once in office, he lowered his growth estimate to 3.5 percent to 4 percent.
  
  
  These projections are above the 2-3 percent healthy growth rate. When growth is more than that, it creates inflation. Too much money chases too few good business projects. Irrational exuberance grips investors. They create a boom-bust cycle that ends in a recession. Trump’s Fiscal Year 2020 budget lowered annual growth rates down to between 2.4 percent and 2.9 percent annually.Trump promised to achieve 4 percent growth with tax cuts. In his first 100 days, he released the outline of would become the Tax Cuts and Jobs Act. It cut the corporate tax rate from 35 percent to 21 percent beginning in 2018. The top individual income tax rate drops to 37 percent. It doubles the standard deduction and eliminates personal exemptions. The corporate cuts are permanent, while the individual changes expire at the end of 2025.
  
  
  But Trump's tax cuts won't stimulate the economy enough to make up for lost tax revenue. According to the Laffer curve, tax cuts only do that when the rates were above 50 percent. It worked during the Reagan administration because the highest tax rate was 90 percent.
  
  
  Trump’s second strategy is to “eliminate waste and redundancy in federal spending.” He demonstrated cost-consciousness in his campaign. He used his Twitter account and rallies instead of expensive television ads. He outlined his cost-cutting strategies in his book, "The Art of the Deal."
  
  
  
  
  Trump was right that there is waste in federal spending. The problem isn't finding it. Both Presidents Bush and Obama did that. The problem is in cutting it. Each program has a constituency that lobbies Congress. Eliminating these benefits loses voters and contributors. Congress will agree to cut spending in someone else’s district, but not in their own.
  
  Any president must cut into the biggest programs to make an impact on the debt. More than two-thirds of government spending goes to mandatory obligations made by previous Acts of Congress. For FY 2020, Social Security benefits cost $1 trillion a year, Medicare costs $679 billion, and Medicaid costs $418 billion. The interest on the debt is $479 billion.
  
  
  To lower the debt, military spending must also be cut. The most Obama spent was $855 billion in FY 2011. The most Bush spent was $766 billion in FY 2008. Instead of cutting, Trump is breaking all those records. Military spending rose to $989 billion in FY 2020.
  
  
  
  What's left after mandatory and military spending? Only $676 billion to pay for everything else. That includes agencies that process the Social Security and other benefits. It also includes the necessary functions performed by the Justice Department and the Internal Revenue Service. You'd have to eliminate it all to make a dent in the $1.1 trillion deficit. You can't reduce the deficit or debt without major cuts to defense and mandated benefit programs. Cutting waste isn't enough.
  
  
  
  
  Trump’s Business Debt Influences His Approach to U.S. Debt
  
  Trump has a cavalier attitude about the nation’s debt load. During the campaign, he said the nation could "borrow knowing that if the economy crashed, you could make a deal.” He added, “The United States will never default because you can print the money."
  
  
  Trump thinks about the national debt as he does personal debt. A 2016 Fortune magazine analysis revealed Trump's business is $1.11 billion in debt. That includes $846 million owed on five properties. These include Trump Tower, 40 Wall Street, and 1290 Avenue of the Americas in New York. It also includes the Trump Hotel in Washington D.C. and 555 California Street in San Francisco. But the income generated by these properties only pays their annual interest payment.
  
  
  But sovereign debt is different. The World Bank compares countries based on their total debt-to-gross domestic product ratio. It considers a country to be in trouble if that ratio is greater than 77 percent. The U.S. ratio is 104 percent. That's the $21.516 trillion U.S. debt as of September 28, 2018, divided by the $20.658 trillion nominal GDP.
  
  
  On February 11, 2019, the U.S. debt exceeded $22 trillion. That puts the U.S. debt-to-GDP ratio at 108 percent.
  
  
  So far, this high ratio hasn't discouraged investors. America is the safest economy in the world. It has the largest free market economy and its currency is the world's reserve currency. Even during a U.S. economic crisis, investors purchase U.S. Treasurys in a flight to safety. That's one reason why interest rates plunged to 200-year lows after the financial crisis. Those falling interest rates meant America's debt could increase, but interest payments remained stable at around $266 billion.
  
  
  But that changed in late 2016. Interest rates began rising as the economy improved. As a result, interest on the nation's debt will double in four years.
  
  
  The United States also has a massive fixed pension expense and health insurance costs. A business can renege on these benefits, ask for bankruptcy, and weather the resultant lawsuits. A president and Congress can't cut back those costs without losing their jobs at the next election. As such, Trump's experience in handling business debt does not transfer to managing the U.S. debt.
  
  
  Trump is wrong to assume that the United States could simply print money to pay off the debt. It would send the dollar into decline and create hyperinflation. Interest rates would rise as creditors lost faith in U.S. Treasurys. That would create a recession. He's also wrong in thinking that he could make a deal with our lenders if the U.S. economy crashed. There would be no lenders left. It would send the dollar into a collapse. The entire world would plummet into another Great Depression.
  
  
  
  National Debt Since Trump Took Office
  
  At first, it seemed Trump was lowering the debt. It fell $102 billion in the first six months after Trump took office. On January 20th, the day Trump was inaugurated, the debt was $18.9 trillion. On July 30, it was $19.8 trillion. But it was not because of anything he did. Instead, it was because of the federal debt ceiling.
  
  
  On September 8, 2017, Trump signed a bill increasing the debt ceiling. Later that day, the debt exceeded $20 trillion for the first time in U.S. history. On February 9, 2018, Trump signed a bill suspending the debt ceiling until March 1, 2019. It was $22 trillion. In just two years,Trump has overseen the fastest dollar increase in the debt of any president.
  
  
  Trump's Fiscal Year 2020 budget projects the debt would increase $5 trillion during his first term. That's as much as Obama added while fighting the great recession. Trump has not fulfilled his campaign promise to cut the debt. Instead, he's done the opposite.
  
  
  
  How It Affects You
  
  The national debt doesn't affect you directly until it reaches a tipping point. A study by the World Bank found that if the debt-to-GDP ratio exceeds 77 percent for an extended period of time, it slows economic growth. Every percentage point of debt above this level costs the country 1.7 percent in economic growth.
  
  
  The first sign of trouble is when interest rates start to rise significantly. Investors need a higher return to offset the greater perceived risk. They start to doubt that the debt can be paid off.
  
  
  The second sign is that the U.S. dollar loses value. You will notice that as inflation. Imported goods will cost more. Gas and grocery prices will rise. Travel to other countries will also become much more expensive.
  
  
  As interest rates and inflation rise, the cost of providing benefits and paying the interest on the debt will skyrocket. That leaves less money for other services. At that point, the government will be forced to cut services or raise taxes. That will further slow economic growth. At that point, continued deficit spending will no longer work.
  
  
  https://www.liberalforum.org/topic/2...rillion-to-it/

Wouldn't that put him in danger of NOT breaking Obama's record, which he took from Bush?

[MisterVeritis]

I am confident you will continue to be wrong your whole life.

You're assessment does not concern me.

It would if you had any interest in being right.

[Captdon]

Hey, stop picking at the black guy. It's not his fault he's black and skin colour isn't supposed to matter in civilized countries. Give your fellow Americans a chance to break free of the bad feelings about the civil war loss.

I don't have any bad feeling about the Civil War. It wasn't my war. My family was on the winning side.

[Captdon]

No where did he mention race, you are the only one to mention race and the black guy

He sees South Carolina and thinks 2+2=5.

[Captdon]

Trump has reversed himself on most of his major campaign themes. Many of his supporters don't seem to care or even notice. And when they do notice, the excuses and equivocation aren't far behind. It's ALWAYS someone else's fault. Or it's Trump playing 3D chess. Trump is NEVER to blame.

No, he isn't.

[Captdon]

What do you think would happen if mid-way through his second term, sometime in 2022 say, Trump just told the rest of the world that they weren't going to get one single dime of money from us anymore against our the debt and they could just eat it?

What are they going to do? Half or more of their wealth owes to everything they've stolen from the US anyway. $#@! 'em.

He'd probably be reelected to a third term, that's what would happen.

Two term limit.