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Trump: I will eliminate U.S. debt in 8 years

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posted on Apr, 3 2016 @ 05:59 PM
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off-topic post removed to prevent thread-drift


 




posted on Apr, 3 2016 @ 06:02 PM
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In addition to fixing trade deficits, Trump has discussed cutting back on wasteful spending.
Since he is not beholden to the special interest groups that often are the cause of wasteful spending, and because he does not owe political favors to those running agencies that spend wastefully, I think he would succeed.

He has also discussed the mistakes our country has made throwing away millions of dollars supporting other countries when our own country is in debt.

Those above who said that no debt would ruin the economy might want to think about how it works with any business, or even your home. Are you stronger financially when you are deeply in debt, or are you stronger when you are solvent and have a balanced budget?



posted on Apr, 3 2016 @ 06:03 PM
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off-topic post removed to prevent thread-drift


 



posted on Apr, 3 2016 @ 06:05 PM
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Pfft... I can eliminate it in 8 seconds.


"The National Debt no longer exists. Think it does...try to come and get some."



posted on Apr, 3 2016 @ 06:09 PM
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originally posted by: BlueAjah
a reply to: n00bUK

So much hate, so little intelligent substance.


1)He'd be trying to wipe 27 trillion, not 16.
2)You're running a defict, which trump would have to eliminate before he tried to tackle the debt.
3)Discretionary spending funds the basic functioning of your government -homaldn secuirty, highways, defense, etc. Even if he cut all of that he would still be 16 billion short after 8 years.


This is probably Trump most stupid claim to date. He's an embarrassment to America and a laughing stock around the world.



posted on Apr, 3 2016 @ 06:11 PM
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Strange. All that money they just gave to the bankers and others, couldn’t they have put that to the deficit?


I think they called it Quantitative easing


I call it getting F_____ __ ___ __



posted on Apr, 3 2016 @ 06:14 PM
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a reply to: n00bUK

Balancing the budget is also part of Trump's plan.

It's common knowledge that the government budget includes a huge percentage of wasteful spending.
Much of the budget includes back-door deals made to keep donors and others happy.
There are few checks and balances.
There is little oversight to be sure that money is spent appropriately.
The Federal government is too huge, resulting in wasteful spending.

The budget can be done smarter by someone who understands finances and does not owe favors. (Trump)



posted on Apr, 3 2016 @ 06:18 PM
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a reply to: xuenchen

I'd like to live in a country that wasn't beholding to everyone else.



posted on Apr, 3 2016 @ 06:21 PM
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Donald Trump's degree is in economics and he has decades in business and is an iconic negotiator and deal-maker. I would put his expertise up against just about anybody else nowadays. Lots of "teachers" and few "doers" like to act like they know what's what, but he is a doer and at this point, I believe his skill set is what we need in this country.
edit on 3-4-2016 by queenofswords because: (no reason given)



posted on Apr, 3 2016 @ 06:26 PM
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originally posted by: BlueAjah
a reply to: n00bUK

Balancing the budget is also part of Trump's plan.

It's common knowledge that the government budget includes a huge percentage of wasteful spending.
Much of the budget includes back-door deals made to keep donors and others happy.
There are few checks and balances.
There is little oversight to be sure that money is spent appropriately.
The Federal government is too huge, resulting in wasteful spending.

The budget can be done smarter by someone who understands finances and does not owe favors. (Trump)



I wouldnt say that my self. I say a big government is a good government. Id be for Government banks, pharmacy's, shopping centres - the lot. All for profit. Not private, but government owned and regulated, for the people and woked in by the people. This clearly couldnt work with the way the system is built now, but it is a direction I would like to see in the future.

You don't want to be going down the track which Osborne is taking my country, selling off everything for a loss just to try and lower the deficit.

We need to own our own infrastrucre, banking and transport. Making them a for-profit government owned company would tackle the defict and debt head on and handle it ecomically safe, the best way.



posted on Apr, 3 2016 @ 06:30 PM
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originally posted by: queenofswords
Donald Trump's degree is in economics and he has decades in business and is an iconic negotiator and deal-maker. I would put his expertise up against just about anybody else nowadays. Lots of "teachers" and few "doers" like to act like they know what's what, but he is a doer and at this point, I believe his skill set is what we need in this country.



He's been bankrupt 4 times.

I wish I had a rich mummy and daddy to drag me out of the # everytime I # up.


Or are you depending on them to save him when he #s up, too?



posted on Apr, 3 2016 @ 06:30 PM
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Folks, I’m sorry to inform you…being for real, there NOT going to let Trump do the things he says he’ll do.


Believe me, a 69 year old political novice isn’t going top beat these entrenched powers.


JFK tried. Reagan at first said: NO CFR people in my administration.

Soon we knew what happened to him.


The PTB are likely laughing at Trump.

Sitting up in their estates, under their fire places, with glasses of Brandy just having one barrel of a laugh


Just like me and others warned at the time that Obama was a phantom...so is the idea that Trump can do anything at this time.



posted on Apr, 3 2016 @ 06:33 PM
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a reply to: butcherguy

Really? So he just have some pipe dream stance on it?

Sanders doesn't plan to triple it btw, that was just some hit job of an article



posted on Apr, 3 2016 @ 06:33 PM
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a reply to: n00bUK

If people and government weren't so damned corrupt, then I'd have no problem with government/socialist stuff.

But people are corrupt. Governments are corrupt. So any attempt to minimize their impact is a priority for me.



posted on Apr, 3 2016 @ 06:34 PM
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no matter the outcome ill wear my Make America Great Again hat around town trying to start fights with inferior liberals lol



posted on Apr, 3 2016 @ 06:36 PM
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Every dollar printed comes with debt attached to it. Debt is inescapable with the current system we have in place. Where is Trump planning on getting this magical money that doesn't have any debt attached to it?

Pandering pandering pandering. If anyone actually believes this then they're in la la land.
edit on 4/3/2016 by 3NL1GHT3N3D1 because: (no reason given)



posted on Apr, 3 2016 @ 06:37 PM
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How is he going to eliminate it if he intends to give massive tax cuts to his wall street buddies?



posted on Apr, 3 2016 @ 06:38 PM
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originally posted by: n00bUK

originally posted by: queenofswords
Donald Trump's degree is in economics and he has decades in business and is an iconic negotiator and deal-maker. I would put his expertise up against just about anybody else nowadays. Lots of "teachers" and few "doers" like to act like they know what's what, but he is a doer and at this point, I believe his skill set is what we need in this country.



He's been bankrupt 4 times.

I wish I had a rich mummy and daddy to drag me out of the # everytime I # up.


Or are you depending on them to save him when he #s up, too?


You obviously don't understand business. The Bankruptcy Code is a strategy used in business and is a tool of negotiation. Many many multi-millionaires have used strategic bankruptcy.

The average person has a narrow understanding of "bankruptcy" and correlates it with failure.

Trump took a million dollars and turned it into almost 10 billion. There is nothing evil about having wealthy parents that give their kids a head start. Who would hold that against him. If he took the mil and lost it all or spent it on "rims", then you would have an argument.



posted on Apr, 3 2016 @ 06:38 PM
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originally posted by: BlueAjah
a reply to: n00bUK

So much hate, so little intelligent substance.


A perfect description of the anti Trump crowd.



posted on Apr, 3 2016 @ 06:38 PM
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originally posted by: BlueAjah
a reply to: n00bUK

Balancing the budget is also part of Trump's plan.

It's common knowledge that the government budget includes a huge percentage of wasteful spending.
Much of the budget includes back-door deals made to keep donors and others happy.
There are few checks and balances.
There is little oversight to be sure that money is spent appropriately.
The Federal government is too huge, resulting in wasteful spending.

The budget can be done smarter by someone who understands finances and does not owe favors. (Trump)


Trump has had big trouble balancing the budget of his own company with one big back bail out, 4 bankruptcies and a bail out from the Chinese.

The budget is huge balancing act between the President, Congress, the CBO, OMB and dozens of agency's and laws. You even have mandatory spending that you can not touch. And then you have dozens of watch dog groups both government and private who look at every penny spent. Then you have tons of other groups who monitor spending from everything from Veterans affairs, education, farming etc.

And since most of the US debt is owned to the US government those parts depend on interest payments as part of their budgets.

And if Trump thinks he can just change trade deals without starting a trade war which would massively add to the debt he is out of his mind.

Now if you truly wanted to get rid of the debt you could. Say Trump could sell off a small portion of US mineral rights and pay it off. That would of course be stupid because the value of the minerals grow faster every year than interest on the debt does.

The quickest way to end remove the debt over a few decades would be to go back raising taxes to where they were before in the 50s-70s but, that would mean massive tax increases for people and companies. And everybody knows tax increases mean political suicide.



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