Posted on 04/03/2016 11:22:01 AM PDT by Steelfish
Fact Checker Trump’s Nonsensical Claim He Can Eliminate $19 Trillion In Debt In Eight Years
Donald Trump, in an interview with Bob Woodward and Robert Costa In a revealing interview, Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years
By Glenn Kessler April 2
The Washington Post's Bob Woodward and Robert Costa sat down with Republican presidential candidate Donald Trump. Here's how the interview went. Donald Trump: “We’ve got to get rid of the $19 trillion in debt.”
Bob Woodward: “How long would that take?”
Trump: “I think I could do it fairly quickly, because of the fact the numbers…”
Woodward: “What’s fairly quickly?”
Trump: “Well, I would say over a period of eight years. And I’ll tell you why.”
Woodward: “Would you ever be open to tax increases as part of that, to solve the problem?”
Trump: “I don’t think I’ll need to. The power is trade. Our deals are so bad.”
Woodward: “That would be $2 trillion a year.”
Trump: “No, but I’m renegotiating all of our deals, Bob. The big trade deals that we’re doing so badly on. With China, $505 billion this year in trade. We’re losing with everybody.”
— exchange during a Washington Post interview, March 31, 2016
Of all the wildly impossible assertions made by Donald Trump, the notion that he could eliminate the nation’s $19 trillion in debt in just eight years ranks near the top. Trump suggests he can manage this feat simply by cutting better trade deals.
If only it were that easy. As we have noted repeatedly, eliminating a trade deficit does not mean the money ends up in government coffers. (Morever, Trump is wrong to say the trade deficit with China is $505 billion; it’s $366 billion, according to the Census..... (READ ON)
(Excerpt) Read more at washingtonpost.com ...
Obama: “Generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal; this was the moment when we ended a war and secured our nation and restored our image as the last, best hope on Earth.”
I think I’m going to be sick.
Really?
We supposedly erased the deficits of the 90’s in just 8 years....
Which Bush and an arrogant republican Congress muffed up...
deficit vs. debt
Sohhhh, if you run a deficit, will you have debt? /S
At least he’s talking about the debt. No other politician dares to even mention it. It’s like this pretend amount of money that Cruz thinks if we ignore it, it will go away. I’ll take trump trying to get it down then Cruz who closes his eyes and asks God to take it away he will. Cruz is dangerous. Trump is trying. I’ll take trump.
Cruz believes he can pray it away. Talk about a Buffoon. Cruz is a psycho!
> So if I want my department to attain say a 30 per cent gross margin, I will set the goal at 40 or 45 percent.
i.e. lie to them for their own good. I really hate that kind of nonsense.
I must have confused you with my reference to “bandwagon fallacy” in this thread about “Trump's Nonsensical Claim. . .”
Let me state it another way: the vote numbers at this point prove Trump is more popular in some states than his Republican rivals. The vote numbers do not prove he is right on policy.
Otherwise, you don't stay in management for long.
I wonder how Trump will accomplish this with Chuckie Schemer as Senate Majority leader...?
It’s almost a given the GOP will control of the Senate or at least be in a tie...
That's about 350 billion. Remember there has to be over 2 Trillion per year for 8 years.
$19 trillion and counting went where? 19,000,000,000,000
Is it virtual debt to cover the bank losses with those derivatives they keep using then the bet is made again and virtual money moved around to cover the bets?
You take $19 trillion and divide it by a 100 million adults and we should all have about 190,000 thousand apiece.
Visual on 1 trillion.
http://www.dailycognition.com/index.php/2009/03/25/what-1-trillion-dollars-looks-like-in-dollar-bills.html?cpage=100
Where is the GOP plan to eliminate the debt?
Unlike Trump, they have the power to do it, yet it never gets done.
Even when the GOP held all three branches of GOV,
It never got done.
Have the Federal Reserve print a bunch of money, pay back the creditor nations and then disolve the Fed and print new dollars from the treasury.
I don’t think anyone makes back what the potentially could have gotten if the put it in the stock market for 43 years. Most would have 3-5 million. Nobody gets near that back with the little monthly check they give.
It is possible.
But it would hurt almost as much as the ultimate result of NOT doing it is going to hurt.
Every time they ‘kick the can down the road’ as they have been doing for the last 30 years, they make the inevitable collapse worse.
Trump, at least SAYS that he wants to quit kicking that can down the road, unlike every other damn politician currently in office or running for office.
It’s too late to fix it without incredible pain and suffering, but like the climber who got his arm stuck, and had to cut it off with a pocket knife to survive, at least he acted.
1. sell off Federal lands to private US citizens.
2. eliminate entire US Federal Departments.
3. Stop illegal immigration at border.
4. Stop sending Earned Income credit payments to MX for bogus dependent children.
5. Open up some Federal Parks systems to oil and precious metals production.
6. Force Congress to telecommute most of the year. Make a wasteland of the leach system in DC.
Yes, it is believable it could be done.
That is true.
There are so many layers to being right and what right means to different people. The proof of the pudding is in the eating since our policy makers and evaluators are frankly abyssal at their jobs.
I was responding to the fact that you wrote a comment in response to someone’s assertion that Trump has millions more votes. Your comment dismissed his assertion.
Perhaps you meant that the millions more didn’t matter because the number of votes has no relationship to the soundness of the policies in your opinion.
I suggest that if that is what your two word response meant that it is emblematic of an elitist point of view. If two million more people think Trump is the better man for the job there might just be something to the notion.
“It can be done. Eliminate every alphabet agency not authorized by the US constitution.”
And lets not forget “foreign aid!” The very idea that we’re “trapped” into all this non-essential spending is criminal. I guess the only potential fallout will be unemployed gubbamint bureaucrats and the litigation that’s sure to follow these needed agency closures. I guess if I were Trump, I’d start with a ten to twenty percent budget cut acrosss the board, followed with further cuts on an annual basis.
Well then how in the heck is he going to cut 2 trillion a year from the debt and please don’t even try me with the lots of waste argument. That won’t even make the deficit go away. Wake up and think it through. You are being conned into wanting to hear something you want to hear.
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