Posted on 04/02/2016 4:22:32 PM PDT by Hojczyk
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.
Over the course of the discussion, the candidate made clear that he would govern in the same nontraditional way that he has campaigned, tossing aside decades of American policy and custom in favor of a new, Trumpian approach to the world.
In his first 100 days, Trump said he would cut taxes, “renegotiate trade deals and renegotiate military deals,” including altering the U.S. role in the North Atlantic Treaty Organization.
He insisted that he would be able to get rid of the nation’s more than $19 trillion national debt “over a period of eight years.”
Most economists would consider this impossible because it could require taking more than $2 trillion a year out of the annual $4 trillion budget to pay off holders of the debt.
“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.”
(Excerpt) Read more at washingtonpost.com ...
It appears Trump will have Gingrich or Sessions as VP.
If he could stop the growth of the National Debt in 8 Years it would be a start.
Obama will have added what, $10,000,000,000,000 to it by the time he’s done?
For all that money, you would think the Country would be booming and the Infrastructure completely rebuilt.
I’ll give Trump an A for effort even suggesting it.
Nobody else is.
During Obamas presidency our country had more than doubled the national debt, we have accumulated more debt during his term than all other presidents combined...so why isn’t it possible to reverse that process in the same amount of time?
The US is running an 80% budgetary deficit. We are almost at a point of having to cut the spending below zero dollars to be able to pay back what is owed. This I not possible, unfortunately.
We won’t default. We’ll simply demand debt forgiveness for services rendered. I.E the U.S military Janissaries stationed abroad.
Who would you listen to, a business man or a politician?
Stopping benefits of any kind to illegals would be a great savings let them bankrupt their own countries.
“Most economists would consider this impossible because it could require taking more than $2 trillion a year out of the annual $4 trillion budget to pay off holders of the debt.”
Most? Only a fool would believe you can take $2T out of a 4T Budget. In 2015, defense was $602B. Social Security was $888B. Medicare was $546B. Total of these three programs Trump says he will not cut is $2.036T. IOW, Trump can pay for these three programs and fund his $2T program to pay off the debt. Nothing left for anything else. No funding for anything else.
LOL
Remember ART of the DEAL
Start with the most outlandish deal you think you can get
OK, that gets us $79B. Now let's work on the remaining $1.92T in cuts we need each year.
We are now in year eight of this “recovery”.
A lot of countries are already into negative interest rates. In the next recession the US likely will be as well.
Maybe Trump intends to use negative rates to pay off the national debt - the more you borrow, the more you save !
The US is running an 80% budgetary deficit. We are almost at a point of having to cut the spending below zero dollars to be able to pay back what is owed. This I not possible, unfortunately.
It’s hard for the average lay person to wrap their minds around the amount of debt we carry not including unfunded liabilities.
You usually get replies like, “so raise taxes more on the rich” or “cut the fraud and waste in programs”
“We won’t default. We’ll simply demand debt forgiveness for services rendered. I.E the U.S military Janissaries stationed abroad.”
It’ll work, and it’s brilliant, and it’ll take some non-government type person like Trump to do it.
Did Trump actually say this somewhere?
You need to think out of the box, so to speak.
Here stands in the lower 48 immense unlocked and suppressed potential, it is almost unimaginable.
Mr. Trump will unleash the American spirit; he will set the stage to allow the thoroughbreds to run.
And the serious players will laugh you out of the room.
Uh, that is default. When they bought our bonds we promised to pay them back, even if we were providing services.
Didn’t he talk about the “penny plan” or “one cent solution” on Hannity ? But followed it up by taking entitlements and military spending off the table...
You don’t have to take $2 trillion out every year if the economy takes off and generates far more revenues than it does now. That happened under Reagan. Taxes were cut but the economy grew so fast it generated more revenues than when taxes were higher.
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