Trump takes back claim he could eliminate national debt

The Hill ^ | 04/22/2016 | Harper Neidig

[GIdget2004]

Republican presidential front-runner Donald Trump this week walked back his assertion that he could eliminate the country's debt after two terms as president.

In an interview with Fortune Magazine published Friday, Trump was asked how his pledge to pay off the $19 trillion debt in 10 years was possible.  "No, I didn’t say 10 years," Trump responded. "First of all, with low interest rates, you can think in terms of refinancings, and get it down. I believe you can do certain things to pay off the debt more quickly. The most important thing is to make sure the economy stays strong. You can do it in smaller chunks. You can do it in larger chunks. And you can do it in refinancings."

Trump had, in fact, told The Washington Post editorial board earlier this month that he would pay off the debt in eight years by renegotiating trade deals. The Post called that claim "nonsensical."

His plan was also derided by budget hawks, who called it ridiculous.

Trump added in the Fortune interview that he now wants to pay off a "percentage" of it, but he hasn't decided what that figure would be.

[Bernard]

To go along with your post, the last time the national debt decreased from one fiscal year to the next was the year ending December 31, 1960. Reducing to 70% of what he inherits from Obama would indeed be HUUUUUUGE!

Just reducing it once would be a big deal.

[HiTech RedNeck]

All Federal would get it to within 10%, all Federal and State well over.

[HiTech RedNeck]

He hasn’t changed what he has said, Ass. He has pointed out another angle on it.

[builder]

The wall claims are next.
Trump/Schumer 2016

[niki]

Yawn. Editorialized “news” of what Trump supposedly said or did.

[gov_bean_ counter]

You going to the WH as part of the clean-up crew?

[goodwithagun]

Indeed. And orange isn’t what he meant.

[LMAO]

ALL the income tax revenue over an entire 8 year term wouldn’t even do that.

---

When Trump made the claim that he was going to pay off the national debt in 8 years, his base of supporters considered it heresy to question it.

I’ll be interesting to see how they backpeddle this although the early indication judging by the responses thus far they’re going to bring up Cruz

[ronnietherocket3]

ALL the income tax revenue over an entire 8 year term wouldn't even do that.

The US National Debt is $20 trillion. 70% of that is $14trillion, meaning we need to get it down $6 trillion over 8 years, or $750billion a year. That is about half the annual income tax revenue.

If you include the Social Security Trust Fund and Medicaid Trust Fund, then we won't.

[tbw2]

There are a lot of federal buildings and properties that could be sold to pay down the debt.
And opening up mineral rights, fishing rights, logging rights will generate income.
Letting people who already HAVE rights and leases would do a lot, from oil drilling to mining to fishing. That would boost the economy and create jobs.

[dynoman]

What??

[ScottinVA]

[ronnietherocket3]

To go along with your post, the last time the national debt decreased from one fiscal year to the next was the year ending December 31, 1960.

Didn't it go down when Gingrich was Speaker?

[HiTech RedNeck]

I’m wondering why nobody grilled him on it if it was as purported, Ass.

[bubman]

You know that you are taxing the american consumer right?

The Great Depression was started by a Businessman come politician who imposed massive tariffs back in the early 30's named Herbert Hoover. Heard of him?

[mythenjoseph]

You are very ignorant of what is commonly known as a “one-write-system”.....when you do books properly. The howling will get louder as he becomes President and then when the light is turned on the roaches will be scurrying over one another to avoid jail and prosecution....a true “draining of the swamp” that pelosi and Ryan wade in.

[dynoman]

[Mollypitcher1]

He hasn’t changed what he has said, Ass. He has pointed out another angle on it.
.............................................................
Exactly! And I expect him to come up with one or two additional alternatives as well. Trump does not have tunnel vision, thank God. He has knowledge and vision.

[SandRat]

Words, once spoken, can’t be taken back.

[Robert DeLong]

These are the kinds of people that support Trump.

Ted can't even come close to getting these kinds of supporters.