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 ...
He is making same mistake Reagan made by signing bills which Speaker O’Neill pushed with excessive spending.
Yes, the president can’t stop anything single handedly, but he/she can veto spending bills, and let the congress critters over-ride them. At least then the intelligent voters will see who is responsible for the ugly and unaffordable national debt being passed on to your children and grand children. Where are the vetoes, Mr President?
The interest paid on national debt will soon be larger than the military budget. Debt is not pain-free. Ask my mother-in-law who had to declare bankruptcy due to excessive credit card debt.
The democrats are doing it on purpose to sink America (the Cloward-Piven strategy), and most of the republicans are either too stupid to understand that or too gutless to put a stop to it.
No argument from me!
I’m just making a comment on the problem.
You’re still evading the question.
And a better term for negative inflation is deflation.
The obvious answer is the gov’t is flooding the monetary system with electronic money.
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No they aren’t. The yield curve is flat. The market rate for money at the short end would be much lower than the funds rate. That’s not flooding.
Trump: I will eliminate U.S. debt in 8 years - April 2016
I agree. Sadly...
The stupid part fails us again.
In Ron Cernow’s book Hamilton, he talked about a idea that Hamilton had on dealing with the National Debt. He wanted a dedicated revenue stream just paying and keeping the debt down. Sadly that idea was never implemented.
The best idea I think would be a National Sales Tax of say 2 to 3% with that money only used for paying down the debt. Something like that could work if and only if the Politicians did not screw it up. Of course they would.
The debt ceiling was reestablished on March 2nd and the Treasury Dept. is in “extraordinary measures” mode again (borrowing from the federal TSP “G fund”, etc.). Another “crisis” by September, the usual government shutdown threat, etc., etc..
Some good reading on the “general state of things”:
https://www.howestreet.com/2019/04/28/how-i-learned-to-love-the-debt/
The value of assets covered by the stock market has increased about nine trillion dollars since Trump took office - almost half the value of the national debt - it may not be necessary to actually “pay down” that debt as long as we can show that we have assets available to back up what we owe.....
If you think countries in Europe with negative interest rates are not experiencing inflation, I pity your lack of world knowledge. I have personally traveled in almost every country in Europe, and the prices between now and during my first visit in 1969 are light years apart.
HAHAHAHAHAHAHAHA...$ 1,000,000,000,000 excess spending over tax revenues? That is not loose fiscal policy?
OK go back to smoking whatever stuff you have.
The government isn’t who you want “putting money to work” - they have to take your money to do it, and then spend it without responsibility or efficiency.
You’re changing the subject from the Us to the EU for obvious reasons. You’re wrong about the US.
But I’ll comment on the EU anyway. The EU is dominated by Germany which is running a budget surplus and trade surplus with little economic growth. The EU yield curve isn’t that far out of line with Germany’s inflation. Short rates are negative because the ECB is attempting to stimulate the economy with low interest rate.
Their problem is the same as here. Their central bank is manipulating interest rates. Germany’s government should cut taxes, run a deficit and let the market do its thing.
I’m not the only one who thinks so:
https://www.cnbc.com/2019/04/08/ecb-good-work-should-shame-euro-area-politicians-—commentary.html
The obvious answer is the gov’t is flooding the monetary system with electronic money. The bank can borrow from FED at the stipulated rate, so money supply is never short. How do you think the gov’t can spend $1,000,000,000,000 every year more than they take it in with taxes?
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The government with its excellent credit borrows the money by issuing securities.
Stop laughing at yourself.
The government isn’t who you want “putting money to work” - they have to take your money to do it, and then spend it without responsibility or efficiency.
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The government puts money to work in the private sector by borrowing money rather than raising taxes.
If you were my financial adviser, I would say what PDJT used to say on his popular TV show...YOU’RE FIRED!
US is in far worse shape than many EU countries, for many reasons, the prominent one being massive bubbles in stock market and real-estate due to artificially low interest rates. Trump is holding up the country but he won't last for ever. When he is gone, asta la vista baby!
President Trump is right.
Larry Kudlow is right.
Moonman62 is right.
entropy12 is wrong.
I like the company I keep.
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