(And yes, I know the problem is mostly Congress's fault.)
Posted on 04/29/2019 10:51:27 AM PDT by deplorableindc
White House chief economic adviser Larry Kudlow told reporters Monday that President Trump is unlikely to pay off any of the national debt, currently at $22 trillion.
"Whoa, whoa, it doubled under the prior eight years," Kudlow said on the White House driveway, downplaying Trump's responsibility for the current level of debt.
"Yes, it's gone up a bit," Kudlow conceded, but he argued that "growth is the solution to any debt issues that might be on the table — and so far, so good. Let's just keep the policies in place."
(Excerpt) Read more at washingtonexaminer.com ...
It’s kind of tough to pay down any national debt when you’re running a deficit of a trillion dollars a year! #Math
Last I checked it was Congress porking up the spending bills about 3 times per year. Nobody inside the beltway even speaks the word cut.
“Yes, it’s gone up a bit,” Kudlow conceded, but he argued that “growth is the solution to any debt issues that might be on the table — and so far, so good. Let’s just keep the policies in place.”
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He’s right. Now if the Federal Reserve stopped manipulating interest rates, the interest payments on Obama’s debt would be a lot lower.
I don’t think a modern president has promised more than to balance the budget at some point in the future after his last term is over.
Unfortunately—as the federal government should be about half its current size.
Sure they do... the Democrats, whenever a Republican-controlled congress tries to slow the rate of growth (never mind actual cuts).
Interest rates on U.S. government bonds have gone DOWN over the last six months.
(And yes, I know the problem is mostly Congress's fault.)
It’s kind of tough to pay down any national debt when you’re running a deficit of a trillion dollars a year! #Math
...
Putting money to work and growing the economy is more important than paying off the debt. Market rates on government debt are low.
Government waste and corrupt spending is another issue that needs to be fixed regardless of the debt.
“Yes, it’s gone up a bit,” Kudlow conceded, but he argued that “growth is the solution to any debt issues that might be on the table — and so far, so good. Let’s just keep the policies in place.”
So by this logic, if I had a $5k spending per month average on my credit card and I cut it to $3k spending per month because I got a raise and pay cash for stuff,so far so good?...Why would we elect another Republican if we keep doing the same things over and over that Democraps do? Pay it down for gawd sakes....
“Whoa, whoa, it doubled under the prior eight years,” Kudlow said on the White House driveway, downplaying Trump’s responsibility for the current level of debt.
...
The nasty bastards in the press must have been asking some biased and leading questions.
When the boomers die off spending will go down. We won’t see it.
Why should he? It’s largely the Democrats debt. Why should the GOP have to pay down the Democrats debt? Let them do it.
Interest rates on U.S. government bonds have gone DOWN over the last six months.
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The ones that are moved by the market are, but the short term rates moved by the Federal Reserve went up. The yield curve is flat because of it.
Only if the economic growth exceeds the growth of the deficit. And that's not happening. Washington is not only unwilling to reduce the deficit, it's unwilling to slow down the rate the deficit is growing. You can only spend a trillion + dollars of imaginary money every year so long before the whole house of cards comes crashing down. And the longer it takes the worse the fall will be.
Federal Reserve’s interest rates are already much lower than real inflation rate. Result is debt balloon is at record levels. When this balloon gets pricked the financial meltdown of 2008 will look like kindergarten picnic.
Those big government programs that most people love, like Social Security and Medicare? They start running out of money in the next 16 years or so.
Bump!! Very wise comment.
Bump!! Very wise comment.
Larry Kudlow: Trump won’t pay down any of the national debt
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No one will. It’s all about the other economic indicators. As long a GDP is good, inflation is low, and unemployment is down, politicians will largely ignore the question of debt. It is only when debt payments begin to infringe on other government spending that they’ll take notice.
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