Posted on 04/23/2016 10:35:48 PM PDT by E=MC<sup>2</sup>
Several weeks ago Donald Trump suggested that he would eliminate the national debt over an 8 year time period by selling off federal assets at the rate of $2.25 trillion per year. Should a graduate of Wharton School and a real estate mogul say such a thing? Supply and demand are the most basic economic principles and are taught in Economics 101. Shouldn't such a well educated individual and one who has created an amazing awesome $10 billion (trillion? quadrillion? quintillion?) company based on real estate know that dumping that much additional real estate on the open markets would depress them and they would have to sell at much below book value? And just who is going to have the money in the first place to purchase these additional assets? The dreaded Chinese??? Sheesh. Well, at least the awesome amazing Trump has recently informed us that it was just a suggestion or a joke proposal. What a leader!!!
Cruz’s perfect family - Ted snorted cocaine, and talks about it.
https://www.youtube.com/watch?v=jK3QqDs6yiU
Watch “Ted Cruz hits on aunt in front of whole family” on YouTube
https://youtu.be/t70b41Ln7Eke
The USA imports $2.7Trillion a year in goods and services. A flat across the board 20% import tariff eliminates the annual deficit tomorrow.
Not nearly as bad as a VAT tax, like the one that is the center piece of the Cruz tax plan.
In all fairness, that statement is a lot more complicated than it sounds on the surface.
To start with, about 30% of the national debt is money government agencies have given to the Treasury to keep for them. For example, all the money that Social Security and Medicare collect goes right into the Treasury, where it is then counted as debt.
So, right off the bat the (approaching) $20T debt is actually about $14T.
Next off, the money spent by federal agencies over those lands amount to perhaps $100B a year. No matter what happens to those lands, as long as they are no longer owned by the federal government, that money is saved.
The real money again enters the picture because all the resources on those lands are again available for mining, drilling, forestry, and finally sale at good prices.
So by selling that land, the federal government can actually *make* a lot more tax revenues, while slashing the debt.
Importantly, the vast majority of the lands would not be sold to corporations or individuals, but returned to the individual states.
Aw heck, they all have.
Ever since Trump's interview every one of 'em has been crying about how Trump's way is wrong. Of course they don't know what they're taking about because there's no recording or video of Trump actually saying this stuff, and since the interview Trump's been denying that he ever said that stuff.
Forbes gives him a high 4 billion but DT includes the self-endowed value of his last name, plus whatever else pops into his head.
Forbes has estimated it at 4 billion but who knows how much he has in loans (including Goldman) and never fear...
Trump walks back pledge to eliminate debt in a decade
Gabby Morrongiello @ Washington Examiner excerpt
4/22/16 4:10 PM
You have said you plan to pay off the country’s debt in 10 years. How is that possible?” a reporter for Fortune Magazine asked the Republican presidential front-runner in an interview published Friday.
“No, I didn’t say 10 years,” Trump said. He then suggested that instead of paying it all off, he would pay off an unspecified “percentage” of the national debt as president.
“It depends on how aggressive you want to be,” he said. “I’d rather not be so aggressive. Don’t forget: We have to rebuild the infrastructure of our country. We have to rebuild our military, which is being decimated by bad decisions. We have to do a lot of things.”
“We have to reduce our debt, and the best thing we have going now is that interest rates are so low that lots of good things can be done that aren’t being done, amazingly,” he said.
Trump also suggested that a big part of the answer to the debt is how it’s financed.
“First of all, with low interest rates, you can think in terms of refinancing, and get it down,” he said. “I believe you can do certain things to pay off the debt more quickly. The most important thing is to make sure the economy stays strong. You can do it in smaller chunks. You can do it in larger chunks. And you can do it in refinancings.”
About 700 million acres under Federal control including the national parks. Estimated value about 400 billion. Will not fix the debt problem with an auction.
A working man reduces his debt by spending less and applying what he saves to his credit cards, his auto loan, his mortgage, and so on. It’s called common sense and hardly needs the Laws of Supply and Demand to explain it. As a business man, Trump understands this and would apply it to government. Those bitching about his pledge are needy of attention and simply exposing their shallow pretentiousness.
The catalyst for frugality, whether it be the home or the government is will; a commodity that is non-existent among the collective assholery in DC.
Lack of water limits valuation on most of the Federally administered property. The parks are the showcase pieces.
Here is a streaming view of your newly acquired property..
http://www.yosemiteconservancy.org/webcams/yosemite-falls
“Don’t those “federal assets” belong to the American taxpayer?”
Yes, ans so does the debt!!
It is really sad too. I fear FR will swirl down the drain pipe to the nether world when it only has a few Trump supporters. I have been here almost from the beginning and this election is especially mortal to this site.
Exactly! Correct on every point.
Be nice. Thank you.
“If you are a NeverTrump type person, you are working against our purposes on FR, so please opus out now and log off and let us carry on with our mission in peace.
Continue insulting us with 24/7 anti-Trump diatribes and insults, your opus will be assumed.
We will unite behind our nominee and we will win this coming election (with or without you) and we will get a handle on this divided forum very soon.”
http://www.freerepublic.com/focus/f-news/3424005/posts
Rest assured, no need to fear. DJT supporters are many!
: )
I sure hope that’s what he does in his business and I hope that’s what he does including closing accounts, like all the fed depts that should be controlled by the states, especially the Bureau of Land Management.
Probably not many in my state. Likely are tons in W. Virginia that do or should have his name on them.
Ah. Sounds like maybe I haven't been nice enough for the new primary filter being but in place and my choices will be to either play it safe and bow out for a year or keep going on as I have and assume everything's fine.
The problem is it's impossible for a guy to tell until one day the acct's been cancelled because the rules are simply not specific. Like, we don't want any "24/7 anti-Trump diatribes and insults" but there haven't been any. Yeah, maybe 23/7 or once in a while 23½/7 but 24/7? NEVER!
A lot of us here like talking money, and we talk about this pay $19T/8years. We'd wonder about say, those 30-year T-bills that were sold to folks in foreign countries. Would those get repudiated? A lot of freepers have shares in funds w/ U.S. companies w/ assets like these. We going to let this ding our retirement savings?
OK, we'll try nad be "nice" and all but please try and cut us some slack here...
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