Trump vowed to eliminate debt in 8 years. He’s on track to leave it 50 percent higher

originally posted by: strongfp
a reply to: Bluntone22

Yes, he's relied on other people and laws to do it for him. Like every aspect of his life. It's easy when you can just throw money at people to fix all your problems.

I always think it’s hilarious when people think money works that way.
A fool and his money are quickly parted. That is more than pretty words. That is gospel truth.
We all have heard stories of lottery winners who are broke two years later.
I had a best friend that inherited $80,000. 11 months later he had $700 dollars to his name and nothing to show for it but a ragged out car and an ex girlfriend.
It’s the same principle no matter the amount. It takes intelligence to manage money.
People with no money always think a little more would solve their problems. It doesn’t work that way.

originally posted by: Southern Guardian
a reply to: UKTruth

That’s a pretty deceptive post UK. The national debt clocked at $6 trillion when bush left and $12.8 trillion when Obama left. It’s a substantial increase but when we look at the numbers it pales in comparison to Trumps forecasted increase of $10+ trillion. Context is key here but I trust you already know that UK. I also trust you’re aware the GOP has held control of Congress 9 out of the last 10 years. You know? Congress? The national purse?

The blue is public held debt. $6 trillion to $14.7trillion

Quite a bit more than 50%.
Like I said, quite an improvement. Obama's was more like a 150% increase rather than 200%.. my bad, only 3 times worse than Trump, not 4.

a reply to: Bluntone22

I do indeed stand corrected, bravo !

Trump has never, ever, personally filed for bankruptcy
nope, not ever..

Only corporately so !
Why Donald Trump's Companies Went Bankrupt

Which should give pause for thought and worry
Given that Trump is, y'know, the CEO of ÜSA corp

Lot's of MSM stories about Medicare getting cut big.

Where in the budget is that ?

😃

originally posted by: Cassi3l
a reply to: Bluntone22

I do indeed stand corrected, bravo !

Trump has never, ever, personally filed for bankruptcy
nope, not ever..

Only corporately so !
Why Donald Trump's Companies Went Bankrupt

Which should give pause for thought and worry
Given that Trump is, y'know, the CEO of ÜSA corp

Trump owned, part owned or was involved in somewhere close to 500 businesses prior to becoming President. 6 of them going bankrupt is a pretty good ratio wouldn't you say?

No wonder he is doing so well with the economy.

a reply to: UKTruth

Don't waste your breath with facts.
Orange man bad...

a reply to: Southern Guardian


We're so scientific!

How Accurate Have CBO's Six-Year Revenue Projections Been?

The projection errors have tended to be larger for longer horizons than shorter ones. CBO's six-year revenue projections—those that estimate revenues for the fifth fiscal year after the year in which they are released—have, on average, overestimated revenues by 5.3 percent. The mean absolute error of those projections is 10.4 percent, and the RMSE is 12.1 percent. A mean absolute error of that magnitude would correspond to an error of about $420 billion in the revenue estimate for 2020 that CBO released in its January 2015 baseline projections. The preponderance of overestimates over that longer horizon results in part from the fact that many of the six-year periods encompassed a recession that reduced economic activity and tax revenues below projected amounts.

The RMSE is not as helpful for analyzing the distribution of the errors for CBO's six-year projections as it is for the two-year projection errors because the six-year projections have a larger mean error than the two-year projections and have resulted in about as many relatively large errors as small ones. The mean absolute error and the RMSE show some signs of stabilizing at the six-year horizon, measuring not much higher than those calculated for the five-year horizon. However, the general accuracy of CBO's forecasts extending beyond six years may not become clearer until well into the future, when enough such forecasts have been produced to allow for a comprehensive assessment.

CBO's six-year forecasts of revenues as a share of gross domestic product (GDP) have an RMSE of 1.1 percentage points and a mean absolute error of 0.9 percentage points. In CBO's January 2015 baseline projections, revenues for 2020, the sixth year of the projection, total 18.0 percent of GDP. On the basis of the mean absolute error of past forecasts, revenues for that year might be expected to be as low as 17.1 percent of GDP or as high as 18.9 percent if there are no changes to current law. (The actual error for that particular projection might still fall outside that range.)

CBO - Accuracy of Projections

Economic Forecasts Are Bad, Budget Forecasts Delusional

he CBO's Budget Projections Are Worse Than Useless

www.crfb.org...

originally posted by: Cassi3l
a reply to: Bluntone22

I do indeed stand corrected, bravo !

Trump has never, ever, personally filed for bankruptcy
nope, not ever..

Only corporately so !
Why Donald Trump's Companies Went Bankrupt

Which should give pause for thought and worry
Given that Trump is, y'know, the CEO of ÜSA corp

So has Warren Buffet and Bill Gates. Your point?

a reply to: Wardaddy454

Give me a million dollars and a rich dad with hundreds of powerful connections to start off an I get back to you.

originally posted by: Cassi3l
a reply to: Bluntone22

I do indeed stand corrected, bravo !

Trump has never, ever, personally filed for bankruptcy
nope, not ever..

Only corporately so !
Why Donald Trump's Companies Went Bankrupt

Which should give pause for thought and worry
Given that Trump is, y'know, the CEO of ÜSA corp

Lets look at Mitt Romney. Do you know how many times his company declared bankruptcy? Probably not. Because Mitt doesn't have the audacity to put his name on everything. And that's why you fell for it. It always was, and always will be a weak talking point put forth in the hopes that people like you use it in your ignorance.

Only 50% higher? That's not bad. It was over 100% higher from start to finish of President Obama's 8 years.

Judge Trump with the same color of glasses on.

originally posted by: strongfp
a reply to: Wardaddy454

Give me a million dollars and a rich dad with hundreds of powerful connections to start off an I get back to you.

Many people experience that, even if its to a lesser degree. Many generational businesses exist, with the money, clientele, and contacts that come with it. You just seem upset because it was a million. boo hoo.

a reply to: Guiltyguitarist

The difference between Trump and a lottery winner is the opportunities given to them in life.
People don't become rich because from hard work, they become rich because of the situations they are given to achieve the goals they want. If we devolve down to just a basic job, it's not what you know, it's who you know.

Trump knew people, he had connections, hence why he took a million dollar loan from his father because of an opportunity to make him rich, which just so happened to be a prime time for real estate in NYC.
Even Warren Buffet and Bill gates attribute their wealth to basically being either born in the right time and right place or being in the right place at the right time. Wealth at a certain level is a snowball effect, it gets so big you can't stop it because it's beyond the 'normal' peoples power to do anything about it.

a reply to: Southern Guardian

You're thinking too linearly. Think up/down/up-up/down/up-down-down-down/up-down-up...expand your thinking.

GOOD LUCK!

a reply to: UKTruth

No wonder he is doing so well with the economy.

Not so rockin' hot on the 'ol PNL score
4 big fails should' taught him a thing or tw... nahh

a reply to: Wardaddy454

I'm not upset. I'm just pointing out that people give Trump way to much credit as this beacon of light for the "american dream", like he worked hard to get to where he is. No he just has some sort of strange charisma which I guess is some sort of social feat of strength, since he is the POTUS now. But as a business man, he was terrible at it compared to people in his league.

Success to me isn't about money or wealth, I dragged my ass from tens of thousands of dollars in debt to where I am now. And I'm happy with my current position. But my hard work will never give me the chance to see a million dollar pay out, or give me the hands, eyes and ears of advice from the rich and powerful. My hard work is what I wanted out of life.

originally posted by: Wardaddy454

originally posted by: strongfp
a reply to: Wardaddy454

Give me a million dollars and a rich dad with hundreds of powerful connections to start off an I get back to you.

Many people experience that, even if its to a lesser degree. Many generational businesses exist, with the money, clientele, and contacts that come with it. You just seem upset because it was a million. boo hoo.

Um. Many people don't experience that. Especially when you realize that the 1 million Trump got then would be equivalent to over 7 million today. And then to also be supplied with a bunch of other dirty tricksters (bankers, mobsters, etc.), an entire business network, a "job", a slew of 1% corporatocracy buddies, and sketchy lawyers to make sure you aren't touched and you always will have money behind you... sorry, "many" people don't go through life that way. Thankfully. As if we need more morally bankrupt masses (i.e. the swamp).

originally posted by: Cassi3l
a reply to: UKTruth

No wonder he is doing so well with the economy.

Not so rockin' hot on the 'ol PNL score
4 big fails should' taught him a thing or tw... nahh

What do they all have in common? They want their piece of the American pie.

a reply to: Wardaddy454


you still think it was just a million.. that's cute. it was WAY more than that, possibly 300 million. lol

he lied to you about that, too, but you won't care.

originally posted by: okrian

originally posted by: Wardaddy454

originally posted by: strongfp
a reply to: Wardaddy454

Give me a million dollars and a rich dad with hundreds of powerful connections to start off an I get back to you.

Many people experience that, even if its to a lesser degree. Many generational businesses exist, with the money, clientele, and contacts that come with it. You just seem upset because it was a million. boo hoo.

Um. Many people don't experience that. Especially when you realize that the 1 million Trump got then would be equivalent to over 7 million today. And then to also be supplied with a bunch of other dirty tricksters (bankers, mobsters, etc.), an entire business network, a "job", a slew of 1% corporatocracy buddies, and sketchy lawyers to make sure you aren't touched and you always will have money behind you... sorry, "many" people don't go through life that way. Thankfully. As if we need more morally bankrupt masses (i.e. the swamp).

I see the old "Green-Eyed Monster" infiltrating someone's thoughts .