Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years

Washington Post ^ | 4/2/2016 | Bob Woodeward & Robert Costa

[GilGil]

Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts.

The New York billionaire dismissed concern that his comments — which are exceedingly unusual, if not unprecedented, for a major party front-runner — could potentially affect financial markets.

“I know the Wall Street people probably better than anybody knows them,” said Trump, who has misfired on such predictions in the past. “I don’t need them.”

[GilGil]

This is an excellent article. Bob Woodward is great writer. Very surprising this made it in the Washington Post. It's a long read.

[boycott]

I tend to agree with Trump.

I work with many companies in manufacturing. The future isn’t looking so good.

A few more years of doing what we’ve been doing and we’ll be in real trouble.

$21 trillion in debt will be difficult to recover from too. Obama has spent $11 trillion and we have nothing to show for it. He didn’t spend it on the military. He didn’t spend it on infrastructure. He didn’t spend it on working people. Where did it go?

Yes, I agree with Mr. Trump. We’re heading for a massive recession if we stay the course.

[sickoflibs]

RE:”...but intends to eliminate the national debt in 8 years”

Just another way of telling his supporters that he thinks that they are stupid.

He does it all the time,

[GilGil]

Trump is the only one who has always balanced his budgets and who does not collect a government paycheck.

The rest are clueless in that respect.

[dp0622]

he said raising the debt was unpatriotic when he ran.

that’s is commercial fodder if ever there was any.

[sickoflibs]

RE:”Trump is the only one who has always balanced his budgets and who does not collect a government paycheck.”

He has a great record of filing for his own company bankruptcies and managing them successfully, sounds like his promise here for eliminating the $19T national debt.

[Captain7seas]

I will vote for him but hate to break the news that it's impossible to pay off your debt when all the money is borrowed into existence. Hope the “Creature from Jekylll Island” will be on his reading list.

[Mr. Mojo]

Yeah, eliminating $20 trillion in debt over 8 years is an impossibility. Even completely eliminating welfare state entitlements while simultaneously raising taxes through the roof wouldn’t do it. And obviously Trump doesn’t plan on doing either.

But I do agree with him about the upcoming recession, although it could very well be a lot worse than he’s predicting.

Just keeping the debt stable would be a resounding success.

[svcw]

BS trump has defaulted on over $400,000,000 in loans.
trump people are vapid.

[boycott]

If Trump gets past Cruz, he needs to make it about Obama.

—

“Are you better off than you were 8 years ago?” — Hillary would have to defend Obama or distance herself. Defending him will hurt her. Distancing herself could make Obama mad. He could let loose the dogs — DOJ, etc. — on her.

[sickoflibs]

Thanks !

[onona]

It's called an aspirational goal. You will never know what you can achieve unless you try.

Think NASA and the race to the moon.

[dp0622]

absolutely. I wouldn’t even sweat this election if there weren’t so many @#$@#$s in this country.

[Crucial]

Electing Hillary and especially Bernie will prolong the recession and perhaps turn it into a depression. FDR prolonged Depression 1 by implementing Keynesian economics.

[sickoflibs]

RE:”It's called an aspirational goal.”

No its called complete BS to scam the gullible into voting for him.

It says nothing about what he would do as POTUS.

It would be destroyed as an argument in the general, but by then Trump would make up something else.

[ConjunctionJunction]

I wonder if he meant the deficit but said the debt. Eliminating the deficit within 8 years will be difficult, but doable. Eliminating $20 trillion in debt within 8 years would be nigh impossible.

[JohnBovenmyer]

BS trump has defaulted on over $400,000,000 in loans.

The Constitution doesn't leave that strategy as an option for Trump, not that I'm convinced he's aware of the fact. It DOES allow the government to cancel promised handouts. IIRC two SCOTUS rulings say SS could be simply cancelled. Of course Trump has said he won't go after 'entitlements,' but then what's the value of a Trump promise and, when conflicting, which Trump promises rule?

[napscoordinator]

I would like him to pay back China and Japan at least. That would be a great start. The rest is internal debt.

[NaturalScience]

"No its called complete BS to scam the gullible into voting for him."

Actually, I believe Trump calls it "lyin'"

[Steelfish]

This is the kind of Trumpoonery-Buffonery that explains why Clinton and Bernie are both trashing Trump in hypothetical head to head match ups. God save our nation if Trump becomes the nominee. Clinton will win in a landslide!