Politics Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

[SlyPokerDog]

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

https://www.thedailybeast.com/trump-on-coming-debt-crisis-i-wont-be-here-when-it-blows-up

 

[barfo]

You wouldn't think conservatives who spent the last decade agonizing about the debt would now want to enable Trump to massively increase the debt.

But that's what you get for thinking.

barfo

 

[Fez Hammersticks]

Hmmm, Mags argued that this is one factor that led him to become a fanatic -- "balanced budget, containing national debt."

​

 

[MarAzul]

We have fallen so far down the hole in the last 10 years, I do not think he should attempt to focus on the debt. The best he can do with the skills he brings to the game, it to grow the economy and get as many of the working population working as possible. Get the trade agreements in place for the future.

When the interest rate become high enough that we can not service the debt, then it will be what it will be. The leaders of that day will have to set the course and tell us what victory looks like and how we will get there. That day was assured to happen somewhere along the path of allowing the debt to increase beyond 12 to 15 trillion dollars. That is unless we can diminish it in relativity by massive growth.

 

[MARIS61]

It's a Congressional debt, and unfixable without first completely draining the swamp.

 

[barfo]

We have fallen so far down the hole in the last 10 years, I do not think he should attempt to focus on the debt. The best he can do with the skills he brings to the game, it to grow the economy and get as many of the working population working as possible. Get the trade agreements in place for the future.

When the interest rate become high enough that we can not service the debt, then it will be what it will be. The leaders of that day will have to set the course and tell us what victory looks like and how we will get there. That day was assured to happen somewhere along the path of allowing the debt to increase beyond 12 to 15 trillion dollars. That is unless we can diminish it in relativity by massive growth.

It's a Congressional debt, and unfixable without first completely draining the swamp.

You guys are endlessly entertaining. Thank you.

barfo

 

[Fez Hammersticks]

It's a Congressional debt, and unfixable without first completely draining the swamp.

This schtick of yours

 

[dviss1]

It's a Congressional debt, and unfixable without first completely draining the swamp.

Yeah... Still waiting on Trump to make that happen...

He's let a few gators loose himself...

 

[CupWizier]

We have fallen so far down the hole in the last 10 years, I do not think he should attempt to focus on the debt. The best he can do with the skills he brings to the game, it to grow the economy and get as many of the working population working as possible. Get the trade agreements in place for the future.

When the interest rate become high enough that we can not service the debt, then it will be what it will be. The leaders of that day will have to set the course and tell us what victory looks like and how we will get there. That day was assured to happen somewhere along the path of allowing the debt to increase beyond 12 to 15 trillion dollars. That is unless we can diminish it in relativity by massive growth.

Can you explain why we need to spend as much if not more than the next 8 biggest spenders for military?

 

[riverman]

As to the thread title...then can we blow it up today? (this post will get me on a watch list somewhere)

 

[dviss1]

We have fallen so far down the hole in the last 10 years, I do not think he should attempt to focus on the debt. The best he can do with the skills he brings to the game, it to grow the economy and get as many of the working population working as possible. Get the trade agreements in place for the future.

When the interest rate become high enough that we can not service the debt, then it will be what it will be. The leaders of that day will have to set the course and tell us what victory looks like and how we will get there. That day was assured to happen somewhere along the path of allowing the debt to increase beyond 12 to 15 trillion dollars. That is unless we can diminish it in relativity by massive growth.

Newsflash: Bush, the guy you voted for, caused that. Barack no matter how you want to spin it, saved this economy.

 

[MarAzul]

Newsflash: Bush, the guy you voted for, caused that. Barack no matter how you want to spin it, saved this economy.

If you says so. It matters not now. We have passed the point of no return. We either grow out of the hole or succumb to the debt. Even then it depends on interest rates remaining low enough to stay in front of the wave.
There was no save.

 

[Chris Craig]

Can you explain why we need to spend as much if not more than the next 8 biggest spenders for military?

Most of that money is going into pockets

 

[Chris Craig]

If you says so. It matters not now. We have passed the point of no return. We either grow out of the hole or succumb to the debt. Even then it depends on interest rates remaining low enough to stay in front of the wave.
There was no save.

Trump claimed when he was running he was going to tackle it. Now he says fuck it. Your on board no matter what. He could blow your boat out of the water and you'd still defend him. Ludicrous

 

[Chris Craig]

The economy is going to crash too, probably before the next election. Will that be his problem?

 

[Lanny]

It's a Congressional debt, and unfixable without first completely draining the swamp.

You mean wiping out Social Security, Medicare and Medicaid. They're certainly not going to raise taxes on the wealthy.
Anyhow, Republicans had the Presidency and both Houses of Congress and only increased both the debt and the deficit at an alarming rate.

 

[Chris Craig]

You mean wiping out Social Security, Medicare and Medicaid. They're certainly not going to raise taxes on the wealthy.
Anyhow, Republicans had the Presidency and both Houses of Congress and only increased both the debt and the deficit at an alarming rate.

Yeah they fucked the pooch big time...sorry @SlyPokerDog

 

[andalusian]

If you says so. It matters not now. We have passed the point of no return. We either grow out of the hole or succumb to the debt. Even then it depends on interest rates remaining low enough to stay in front of the wave.
There was no save.

When Obama became president, the federal deficit was $458B. After 8 years on the job, through a recession - it ballooned to $585B. That's $127B through 8 years.

After 2 years of the Trump administration with a republican congress and it's fiscal conservative agenda the deficit is at $779B. That's $212B through 2 years.

Everything is going just peachy. Trickle down economic my ass.

 

[Chris Craig]

When Obama became president, the federal deficit was $458B. After 8 years on the job, through a recession - it ballooned to $585B. That's $127B through 8 years.

After 2 years of the Trump administration with a republican congress and it's fiscal conservative agenda the deficit is at $779B. That's $212B through 2 years.

Everything is going just peachy. Trickle down economic my ass.

The collapse is coming

 

[MarAzul]

Your on board no matter what. Ge could blow your boat out of the water and you'd stilldefend him. Ludicrous

Chis! Stuff a rag in it!

I am not defending anyone or anything. I gave my opinion of the straits we are in as a country Financially. It has nothing to do with who did it. As I said, now we must grow the economy and thereby the revenue to support the debt or go under. Attempting to pay it off now would be stupid and assure defeat regardless of who ever is President. We must get the revenue base up before interest rates rise or go under.

If you think this ludicrous, I will attempt to consider the source, and not response to the troll.

 

[MarAzul]

Everything is going just peachy. Trickle down economic my ass.

Peachy might not be correct.

 

[CupWizier]

Chis! Stuff a rag in it!

I am not defending anyone or anything. I gave my opinion of the straits we are in as a country Financially. It has nothing to do with who did it. As I said, now we must grow the economy and thereby the revenue to support the debt or go under. Attempting to pay it off now would be stupid and assure defeat regardless of who ever is President. We must get the revenue base up before interest rates rise or go under.

If you think this ludicrous, I will attempt to consider the source, and not response to the troll.

Everytime I read your posts this is what I hear

 

[andalusian]

Peachy might not be correct.

Well, Duh.

It was obvious the moment the republican house decided to give themselves and the big corporations a big tax cut that they screwed the pooch.

By the end of Obama's administration the federal deficit as a percent of the GDP was as low as it was before the recession - the economy was working correctly. We are getting closer to 4% now which is higher than 2008.

What amazes me is how a party that caters to the super-rich manages to get so many poor people to support them and continue to support them while they they do unholy things to them.

 

[Lanny]

The collapse is coming

I hope you're wrong. But just in case, I've mostly withdrawn from the stock market. Gonna meet with my investment advisor sometime soon so I'll get an update on how things are going and how much I would have lost if I had stayed in it.

 

[MarAzul]

Well, Duh.

It was obvious the moment the republican house decided to give themselves and the big corporations a big tax cut that they screwed the pooch.

By the end of Obama's administration the federal deficit as a percent of the GDP was as low as it was before the recession - the economy was working correctly. We are getting closer to 4% now which is higher than 2008.

What amazes me is how a party that caters to the super-rich manages to get so many poor people to support them and continue to support them while they they do unholy things to them.

If we can not make the deficit be gone by growing the economy and there by revenue, then we lose. End of game.
If you try to increase revenue by increasing taxes, you will not get the debt paid before the interests rates rise and the economy shrinks.
That will be end of game.

 

[Lanny]

Well, Duh.

It was obvious the moment the republican house decided to give themselves and the big corporations a big tax cut that they screwed the pooch.

By the end of Obama's administration the federal deficit as a percent of the GDP was as low as it was before the recession - the economy was working correctly. We are getting closer to 4% now which is higher than 2008.

What amazes me is how a party that caters to the super-rich manages to get so many poor people to support them and continue to support them while they they do unholy things to them.

Yeah, that amazes me too. I attribute it to ignorance. I think the lower class, has a tough time getting a quality education.

 

[MarAzul]

As I see it, we need to start making money off China and a more in other parts of the world to get our GDP high enough to begin paying down the debt or it is very doubtful we will succeed.

 

[MarAzul]

I attribute it to ignorance.

More likely the inability to process information in a productive way.

 

[MarAzul]

I think the lower class, has a tough time getting a quality education.

This leaves one wondering what you are actually thinking.

 

[Chris Craig]

As I see it, we need to start making money off China and a more in other parts of the world to get our GDP high enough to begin paying down the debt or it is very doubtful we will succeed.

Make money off China? China owns our ass