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 ...
The US economy doesn't produce that much revenue to fund itself AND pay off all the bonds AND expand the military AND expand health care like he wants to AND hold a progressive tax base at his proposed rates.
Geez - this guy can truly say anything and his supporter just yell “YES”.
It's really amazing.
Bob Woodward and Robert Costa are the American answer to Joseph Goebbels and Heinreich Himmler.
Poor gov workers will have to NOT get raises every year.
***************
Those “poor” government workers make oversized salaries and have incomparable benefits, not to mention near ironclad job security. Plus, they benefit from the armies of contractors who do their work for them. That is the dirty little secret in Washington: contractors do most of the work. Trust me, its a fact.
Woodward in not a journalist. He’s an operative for the Democrat Party.
But still had higher deficits than any of his predecessors.
“Those “poor” government workers make oversized salaries and have incomparable benefits, not to mention near ironclad job security. Plus, they benefit from the armies of contractors who do their work for them. That is the dirty little secret in Washington: contractors do most of the work. Trust me, its a fact.”
I believe you. Like Gruber, he made millions.
Do you have any idea what a panic it would send through the Pentagon if Japan and Korea said, "OK. Take your forces home?"
Outside of the United States there are no serious players. Not one, enemy or ally could survive without our blessing. Not one. And they all know it.
Time to do anything remotely like this is running out. Go Trump!
> I believe it’s actually possible
I do as well, IF there are big cuts and policies to stimulate growth. Trump is predicting ‘massive recession’ if nothing changes, and I agree that is likely. Whatever glue is keeping the economy from sliding off the edge will likely be made to come undone before his first 100 days in office, poor guy. He’s gonna have a big mess to clean up, and I am not even talking about airing out the stench in the WH.
I guess. Aren’t we supposed to call him Ambassador?
“Pay them, or screw the Americans/pension plans/banks/401ks dumb enough to purchase US debt.”
Not as boolean nor as simple as that. Haven’t you ever negotiated with a credit card company before?
“But still had higher deficits than any of his predecessors.”
You do understand that spending is NOT a function of tax rates...right?
all I know is that if you borrow 100 trillion dollars at -2 percent per year, you pay back 98 and keep 2...
rinse and repeat.
Great point.
And what, exactly DO we have to show for it?
A man on Mars?
Poverty eradicated?
Awesome educational system?
No.
What DID we get for all of that money spent?
In the highly unlikely event Donald means what he says, massive recession is the least of our worries. As a strong second amendment supporter, take that for whatever you think it means, in a rural environment I'll do my best to survive the elimination of most if not all social programs, most importantly social security and medicare, but the others as well.
Of course we both know, I hope, that this is just so much pandering to what he thinks are the masses.
All Trumps defects I'd prefer him to Hillary, so I hope the "masses" he's inspiring get him 270 electoral votes.
I thought we were referring to budget negotiations.
Well at least Trump plans to actually do something.
Eliminate a $20T debt in eight years? That would be very hard on everyone. But better to do it while we still have some economy left. If we wait until it collapses of its own weight we won’t recover.
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