It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Donald Trump’s Idea to Cut National Debt: Get Creditors to Accept Less

page: 1
12
<<   2  3 >>

log in

join
share:

posted on May, 6 2016 @ 06:11 AM
link   

Asked whether the United States needed to pay its debts in full, or whether he could negotiate a partial repayment, Mr. Trump told the cable network CNBC, “I would borrow, knowing that if the economy crashed, you could make a deal.”

He added, “And if the economy was good, it was good. So, therefore, you can’t lose.”

Such remarks by a major presidential candidate have no modern precedent. The United States government is able to borrow money at very low interest rates because Treasury securities are regarded as a safe investment, and any cracks in investor confidence have a long history of costing American taxpayers a lot of money.
Donald Trump’s Idea to Cut National Debt: Get Creditors to Accept Less


Didn't Trump just describe the essence of bankruptcy?

I love his "you can't lose" comment, you can lose your credit rating by pulling that kind of stunt. This has to be in the top 5 dumbest things Trump's said yet. Is he really a great businessman? Any good undergraduate business student would understand that the plan he's presenting above is simply suicidal.

Is this the kind of thinking that will make America great again? It sounds like something that could destroy America in a heartbeat.




posted on May, 6 2016 @ 06:14 AM
link   
a reply to: Profusion

He's right you can't lose.

If they don't negotiate a deal like their doing wjth Greece and Puerto Rico what are they going to do let the US economy just completely fail?



posted on May, 6 2016 @ 06:16 AM
link   
21/07/2019
"President Trump, how will you solve the issue of giant rats coming out of the sewers and attacking people?"
"Well we just kill all the people so the rats won't have anyone to attack So, therefore, you can’t lose!"



posted on May, 6 2016 @ 06:18 AM
link   
a reply to: IShotMyLastMuse

That makes no sense.

Just putting that out there.


+6 more 
posted on May, 6 2016 @ 06:28 AM
link   
Ok.
So, if this is stupid.....lets hear from all the billionaires who have pulled themselves out of bankruptcy. Creditors will settle a debt for less, rather than lose the whole amount.



posted on May, 6 2016 @ 06:32 AM
link   
a reply to: DAVID64

Anyone who's ever settled a past debt kbows this it's not news.

I've settled past debts for 50% less before.



posted on May, 6 2016 @ 06:48 AM
link   
a reply to: onequestion

depends on what he uses the money he borrows for? if he uses that money to rebuild the economy, then ya, it could work. if he wastes it on stupid things, stupid wars like they have been doing for decades, then it probably will be just digging the hole deeper. Has he said anything about the corruption and rigging in the markets and banks in general. because as long as that is going on (and we all know it's going on including our trading partners), it doesn't matter what he does.



posted on May, 6 2016 @ 06:54 AM
link   
It can be called a hair cut and it is a two way street that ....well ....we had the bail out of the banks and now they are talking about the bail ins .Problem with the bail ins is that the 1% have their stash off shore ..cant touch this ...We on the other hand have ours in savings or RRSP's or other retirement investments .Who wants to be in that line when the taking less is turned towards us when its time to pay out ? just saying ..be careful what you are being sold .Even boots on the ground can take on a whole new meaning when its put into a political context .



posted on May, 6 2016 @ 06:55 AM
link   
I am curious to see the details as we owe ourselves the largest portion of our own debt.



posted on May, 6 2016 @ 07:18 AM
link   

originally posted by: onequestion
a reply to: Profusion

He's right you can't lose.

If they don't negotiate a deal like their doing wjth Greece and Puerto Rico what are they going to do let the US economy just completely fail?

What currencies do Greece and Puerto Rico use? What currency does the US use. They are very different situations.
The problem is that what Trump is saying shows a complete misunderstanding of the national debt.



posted on May, 6 2016 @ 07:28 AM
link   
The US is threatening to overthrow the bankers and cause them to lose everything, because they can now. The US will squeeze every dollar they can from the bankers and take as much power as possible.



posted on May, 6 2016 @ 08:20 AM
link   
a reply to: ScepticScot

How's that besides just saying so?



posted on May, 6 2016 @ 08:29 AM
link   
a reply to: onequestion

Both Greece and Puerto Rico are currency users. The US is a currency issuer. The US can not unwillingly fail to pay its debts. This means that there is no reason for creditors to accept a reduced payment or any reason for the US to offer one.
It would also be very bad for the US economy to pay less on the debt as this would contract the money supply.



posted on May, 6 2016 @ 08:41 AM
link   
It does say if the economy crashed he would make a deal. No crash, no deal.



posted on May, 6 2016 @ 09:39 AM
link   
I don't care how a person wants to do it, but, out of ALL of the candidates he is the only one who is even suggesting how to start to bring the country back in order. When I hear reporters saying but if you get rid of this you still cannot balance....

so what? If we are running a 20 trillion dollar debt, with no growth in our GDP no matter what the admin controlled media says. If you could chip away 3-4 trillion a year, why not? We need to be going down and not up.



posted on May, 6 2016 @ 09:53 AM
link   
the problem been after they've chipped away the $3-$4 million from the programs they don't like, they turn around and pat themselves on their back for the job well done, and see that $3-$4 million as money that they've freed up, to expand programs that they do like. sometimes, it will be done by the republicans, sometimes it's the dems who decides what gets cut and what gets expanded, but no money is ever saved really and they just keep adding to the deficit.
if they are going to cut, if they are gonna start giving out haircuts, it has to be done in a logical, bipartisan manner with their only concern being what is best for the country and not their particular party. we are gonna have to take the hit fairly, no one group should hurt worse than any other. they can't do that, neither side can. the republicans will scream about the spending while they beat their wardrums, and the left is no better with their let's take from the middle class so we can give the internet to the poor. I know they say rich, but the richest among us are untouchable, and includes themselves and they certainly don't plan on paying for their crap!



posted on May, 6 2016 @ 10:00 AM
link   
a reply to: dawnstar

That's because there are far too many people who are all too willing to say, "I have mine, but we can totally cut that over there because I don't need it."

But because everyone, literally everyone, says that, there is actually no sacrifice because no one is ready to take the pain at any step in the chain.

And really, no one area should. We ALL should across the board. We should ALL have to accept that our government made promises with money they did not have and do not have. No, but the rich ... No, but the evil corporations ... Because even if we soaked them for every penny, it wouldn't be enough.

And if we get truly serious, ALL of us are going to have make do with less across the board in order to have a prayer of setting things right. None of us is more sacred than anyone else.



posted on May, 6 2016 @ 11:09 AM
link   
a reply to: ketsuko

I ran across a homeless guy one day while sitting in my car at a burger king. I was there enjoying my $1.00 breakfast burrito because I didn't want to waste the gas to come back into town to pick my son up from his class. I watched him, he sat on the curb, a backpack on his back, a bottle of cheap soda in his hand. he drank a little of the soda and got up, proceeded to hide the soda in some bushes and walked on. tell me please, which of his luxuries should he have to give up, his back pack that maybe had a change of clothes in it? that bottle of soda he was hiding so carefully? far too many have so little now that they are trying to make due with. to expect them to make due with less while also expecting them to pick themselves up by the bootstraps and improve themselves is insanity!
I live on one meal a day, sometimes less, I live with two of my sons, in a two bedroom trailer, I've been making due with just what I need to survive for a very long time. each of my sons have needed help in one manner or another, a broken down car, joblessness, whatever. I have gone without that one meal a day, wear clothes that are torn out, too tight, but their car now runs, and the jobless has been able to pull themselves up and now has a job again because I was willing to do without. am I willing to do without, to sacrifice, but I am not willing to do without so that more kids can be blown to hades in third world nations as we try to prove our supremacy and maintain it, or keep the filthy rich from losing their wealth because of their wall street gambling habits.
but, I don't think either of those things is what is being talked about. those "investors" will get their money, even if they have to drain it from the bank accounts of the middle class and working poor. that is the creditors that are being talked about. our savings accounts, our iras, our social security, our retirement benfits.



posted on May, 6 2016 @ 11:14 AM
link   
a reply to: dawnstar

I am talking about all of us who get from the government. Do you think he is?



posted on May, 6 2016 @ 11:31 AM
link   
a reply to: ketsuko

no, but you do realize that some of those who get from the gov't are workers, and the companies they work for get a boost from the gov't giving also... since if the gov't didn't give, they would either have to give them more or some of those people would be in the same spot as this man.

a simple chart displaying the disparity of the income tells us where the money went to. when they are willing to sacrifice, then the gov't has a right to talk to the rest of us about sacrifice. they're not using that money to create jobs in this country, they are using it to gamble in the investment markets, move companies overseas, and kill off competitors here at home. I don't care how much the rest of us sacrifice, as long as they are allowed and enabled to do this, there is nothing that is going to improve things.



new topics

top topics



 
12
<<   2  3 >>

log in

join