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

a reply to: xuenchen

Republican front runner Donald Trump claims he can (and will) eliminate the U.S. National Debt in 8 years !!

Two words.

Bull and Snip.

Current debt is over 18 trillion dollars.

Student loan debt stands around at over $1 trillion.

Social Security, and medicare both spend more money than it takes in.

Neither is designed to keep up with inflation.

The cost of the ACA which also is spending more than it takes in.

There is no possible way to 'eliminate' the debt we have accrued.

Not one.

a reply to: neo96

So, selling off public assets is one.

I guess that makes your statement false.

a reply to: UKTruth

If it came to the US declaring bankruptcy, which is possible, then the US would officially become slaves to the banking community, with debt upon debt loaded on top of its citizens until defaults are a certainty followed by seizure of assets and more debt. Read Greece. I think that is a long way off but possible on the current trajectory.

Sorry there the biggest holder of intra government debt is the 'people'.

As in the money owed to social programs.

Second up is extra government debt meaning China, and Japan.

The only bankers at play there is the ones the LEFT created the Federal Reserve that holds us all hostage to fiat currency.

originally posted by: pl3bscheese
a reply to: neo96

So, selling off public assets is one.

I guess that makes your statement false.

Over $100 Trillion dollars in true debt. 'unfunded liabilities'.

www.usdebtclock.org...

And what 'public' assets ?

a reply to: neo96

No no, you don't get to change the goal-post.

Those liabilities are due over decades.

If you care to educate yourself you will see we have tens of trillions in assets.

a reply to: pl3bscheese

And if you care to acknowledge Military assests aren't part of that, and they're valued at almost a trillion dollars a pop, what's the problem?

If we sold 10-20 jets, it would eliminate half our entire debt.

Have you anti Trump people even taken the time to read what he plans to do? Or do I have to present it here?
China trade reform.

Bring China to the bargaining table by immediately declaring it a currency manipulator.

Protect American ingenuity and investment by forcing China to uphold intellectual property laws and stop their unfair and unlawful practice of forcing U.S. companies to share proprietary technology with Chinese competitors as a condition of entry to China’s market.

Reclaim millions of American jobs and reviving American manufacturing by putting an end to China’s illegal export subsidies and lax labor and environmental standards.

No more sweatshops or pollution havens stealing jobs from American workers. Strengthen our negotiating position by lowering our corporate tax rate to keep American companies and jobs here at home, attacking our debt and deficit so China cannot use financial blackmail against us, and bolstering the U.S. military presence in the East and South China Seas to discourage Chinese adventurism.

That should save us a few hundred billion a year...

Tax reform

Tax relief for middle class Americans: In order to achieve the American dream, let people keep more money in their pockets and increase after-tax wages.

Simplify the tax code to reduce the headaches Americans face in preparing their taxes and let everyone keep more of their money.

Grow the American economy by discouraging corporate inversions, adding a huge number of new jobs, and making America globally competitive again.

Doesn’t add to our debt and deficit, which are already too large.

No economist but i'd suspect this would shave a fare amount off the debt by streamlining the process so people not just corporations could understand the tax codes.

Donald J Trump

I have a hard time supporting anyone running for office anymore, and I'm definitely not a Trumpite(or whatever their called). I'm just a concerned American citizen who has actually taken the time to look at the candidates stances rather than taking the MSM at their word.

Yes Trump is a capitalist, hes not politically correct, and is prone to manipulation by the media pundits. America is more akin to crone capitalism system. We never really had a free market after the 20's. America was great once because of true capitalism. Reversing an 18 trillion dollar debt will be quite an undertaking. But I would rather see someone do something about it than just inflate that number even more. *Cough* Bernie *Cough*


And lastly something for you "Trump is a racist nazi woman hater" people to chew on.
Immigration reform

Immigration moderation. Before any new green cards are issued to foreign workers abroad, there will be a pause where employers will have to hire from the domestic pool of unemployed immigrant and native workers. This will help reverse women's plummeting workplace participation rate, grow wages, and allow record immigration levels to subside to more moderate historical averages.

How dare he suggest people of all races and genders get an actual fighting chance against his/her own poverty.

a reply to: UKTruth

But they are slaves to the Banking PTB, the only difference being the USA and Greeces position was that before extentions were made to Greeces loans prize assets of the Country were acquired by the Lenders.

They wouldn't try the same with the USA as after all the US is the enforcer in invading countries for loot for the PTB. Look at Libya and Iraq; both wanted to create a Gold based dinar to enable sound currency and trading amongst the Arab nations. The Rothschilds Central bankers put a stop to that with their US Military arm.

If the loans to the US were called in it would expose the Big Game.

Continued

a reply to: TheConstruKctionofLight

www.thenewamerican.com...

It remains unclear exactly why or how the Gadhafi regime went from “a model” and an “important ally” to the next target for regime change in a period of just a few years. But after claims of “genocide” as the justification for NATO intervention were disputed by experts, several other theories have been floated. Oil, of course, has been mentioned frequently — Libya is Africa‘s largest oil producer.

But one possible reason in particular for Gadhafi’s fall from grace has gained significant traction among analysts and segments of the non-Western media: central banking and the global monetary system. According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit. And it literally had the potential to bring down the dollar and the world monetary system by extension, according to analysts.

French President Nicolas Sarkozy reportedly went so far as to call Libya a “threat” to the financial security of the world. The “Insiders” were apparently panicking over Gadhafi’s plan. "Any move such as that would certainly not be welcomed by the power elite today, who are responsible for controlling the world's central banks,” noted financial analyst Anthony Wile, editor of the free market-oriented Daily Bell, in an interview with RT. “So yes, that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forward [for] removing him from power."

a reply to: 0zzymand0s

The world economy is a finely calibrated machine, designed to self-perpetuate

finely calibrated I think not. Otherwise why the need for Bail-In legislation? The depositor will have his deposits used to prop up the house of cards. Look at the test run in Cyprus where depositors had a 47% haircut in 2013.

Even after the system was flush with money the only beneficiaries were the same criminals that brought it to its knees; they were able to go in and buy the restructured debt (Toxic assets) at cents in the dollar.


allnewspipeline.com...

Back on January 6th, 2015, John Lawrence at the San Diego Free Press wrote a story called "The Bail-In: How You and Your Money Will Be Parted During The Next Banking Crisis" and in it he let know why the American people are on the hook for bad bets and mistakes made by the big banks. Simply, we 'gave it all away' and didn't even see it coming.:

There will be no more taxpayer bailouts for the Big Wall Street banks. That much has been established by the lobbied to death Dodd-Frank banking reform (yeah, right) bill. However, instead of taking money from the government (taxpayers), the principal has been established that the next source of money for profligate banks will be your deposit accounts. Yeah, that’s right, the money to stabilize the banking sector during the next crisis will come out of your savings and checking accounts.

To add insult to injury – since the banks pay you zero percent on your savings account in the first place – the banks have the right to confiscate your funds if they crash the economy again as they did in 2008. Remember the Great Recession? It’s coming again to a bank near you. How can they do this, you ask? Simple. When you deposit money in a checking or savings account, that money no longer belongs to you.

Technically and legally, it becomes the property of the bank, and the bank just issues you what amounts to an IOU. As far as the bank is concerned, it’s an unsecured debt. c20140407114817-bank-bail-ins-goldsilver-com.png The story from Shah Gilani on Money Morning was called "Why I'm Closing My Bank Accounts While I Still Can" and in it we learn of one man's struggle to withdraw his own money from his own bank account. Put through the 3rd degree to withdraw cash, we're given more proof that Americans no longer 'own' our own money as Susan Duclos shared with us back in January of 2015 and another sign that the financial world is getting ready to fall apart.

How might bank bail-ins work in America? You will go to bed one night, wake up to find the bank is closed on a "bank holiday", ATM's will not allow you to withdraw cash. An announcement will go out that you, the taxpayer, will have money withdrawn from YOUR account before the banks reopen and what is left is yours... until the next time.

From Gilani.: Not long ago I walked into a local branch of my bank – the 13th largest bank in the United States based on consolidated banking assets, according to the Federal Deposit Insurance Corporation's (FDIC) second-quarter 2015 data. I wanted to cash a check for a few thousand dollars. It was a business check made out to cash; it was my business account and there was plenty of money in it. What happened next was, frankly, frightening. And it has profound implications for every American.

That's because it means capital controls, courtesy of the government and the U.S. Federal Reserve, could be right around the corner. They're already in effect in some form. That means you might not be able to get the money you want out of an ATM. You might not be able to cash a check when you have plenty of money in your account. Or worse… your bank could take your deposited cash and convert it to shares of stock in that bank. In other words, if you think you'll always be able to get your money out of your bank, you're wrong

a reply to: xuenchen

Trump is an idiot. No one would want to talk trade with him. That man spill a lot of garbage out of his mouth. Nothing ever backed up.

originally posted by: imjack
a reply to: pl3bscheese

And if you care to acknowledge Military assests aren't part of that, and they're valued at almost a trillion dollars a pop, what's the problem?

If we sold 10-20 jets, it would eliminate half our entire debt.

Planes are typically worth a couple hundred million each, in the case of aircraft that are expensive to develop and few are made they come to 1-2 billion, not trillions each. The Air Force has a budget of $140 billion dollars. Do you really think they're purchasing jets worth a trillion dollars each?

a reply to: xuenchen

"I will eliminate the U.S. in 8 years"

If we were to not pay anyone, anything, and dedicated every dime of what our country makes to the Federal Debt. We still would not be able to pay it off in that amount of time. It could be paid off in a year, if the government never spent another penny, and raised taxes on us by 10%. If someone were to make 75 million per year, it would take them 14,000 years to pay off our debt.

originally posted by: CosmicSmack
Elaborate on how his domestic spending and foreign policy are good?

From my understanding to afford the spending he wants we would have to be heavily taxed and we would be spending our debt every year. Sounds like we will be bankrupted very quickly. He wants to make an already corrupt government bigger. I also do not want more socialism because I think it is dis-empowering and encourages laziness; I should not have to support people against my will. It takes away sovereignty

I don't really know what his foreign policy is but i would think it is very PC and i cant see him being aggressive and fighting to keep America's interest.

I think he is just controlled opposition for Hillary the way he won't fight for the delegates she steals or he is a back up in case Hillary goes to jail. The elites he wants to "defeat" would gain more power from America being socialist and Globalization can not succeeded unless America is completely incapacitated economically. His stance on guns, climate change, and boarders shows me that he is most likely a globalist.

You misunderstand. Lets start with what he wants to spend. You're confusing CBO scoring with his budget outlays. The CBO rates spending proposals on 10 year outlooks, typically this means that when they rate a spending plan such as Sanders 18 trillion the actual spending per year is 1/10 of that or 1.8 trillion. Projected inflation is also factored into these as well which brings that 1.8 trillion per year down to about 1.5 trillion in todays dollars. Yes, there would be some tax increases involved in order to cover $1.5 trillion but a large portion of that spending is achieved through spending more efficiently, particularly with health care. Moving from Obamacare to single payer would save about $500 billion per year right now which is 1/3 of what Sanders is proposing, and it's money you're already spending anyways. Some more revenu would come from new taxes, specifically on the wealthy that are effectively paying 13-14% right now. Other sources of income involve cutting back on the MIC and reducing rather than increasing our $750 billion defense budget. The rest comes from ending corporate welfare.

You can contrast this with Trump who has proposed $2 trillion/year in new spending (that's 20 trillion over a decade) with no tax changes to pay for it. In fact he wants to cut taxes, and then claim that renegotiating trade deals will make us prosperous to cover it all.

His foreign policy is basically that America stops being the worlds policeman. We use force when it's necessary but rather than doing the fighting ourselves we largely leave things to regional powers. ISIS for example is Europes problem, not ours, we can help but we don't need to be invading countries to stop terrorism. Those other countries have defense budgets for a reason.

originally posted by: JAY1980
Have you anti Trump people even taken the time to read what he plans to do? Or do I have to present it here?
China trade reform.

Bring China to the bargaining table by immediately declaring it a currency manipulator.

How does that get them to the bargaining table?

Protect American ingenuity and investment by forcing China to uphold intellectual property laws and stop their unfair and unlawful practice of forcing U.S. companies to share proprietary technology with Chinese competitors as a condition of entry to China’s market.

Again... how does this work? Anybody who's had copyright material stolen by the Chinese (that would be the Disney company, among others... as well as big tech firms) have been fighting this for decades. They haven't been able to get the Chinese to comply. How can Trump get the Chinese (who don't seem to have a good opinion of him) to agree?

No more sweatshops or pollution havens stealing jobs from American workers.

How does he propose to do this? Make import/export so expensive that we can only buy US? And what about the US sweatshops?

Strengthen our negotiating position by lowering our corporate tax rate to keep American companies and jobs here at home, attacking our debt and deficit so China cannot use financial blackmail against us, and bolstering the U.S. military presence in the East and South China Seas to discourage Chinese adventurism.

If the corporate tax rate gets lowered, where is the money for the military coming from?

Tax reform
Tax relief for middle class Americans: In order to achieve the American dream, let people keep more money in their pockets and increase after-tax wages.

The biggest tax relief recipients are the ultra-wealthy like himself and corporations like he owns who will drop from 35% tax to 15% tax. The rest of us don't get much of a break.

Simplify the tax code to reduce the headaches Americans face in preparing their taxes and let everyone keep more of their money.

This will be interesting.

Grow the American economy by discouraging corporate inversions, adding a huge number of new jobs, and making America globally competitive again.

This hasn't worked in the past. Why does he think it will work just because he's doing it?

Immigration moderation. Before any new green cards are issued to foreign workers abroad, there will be a pause where employers will have to hire from the domestic pool of unemployed immigrant and native workers. This will help reverse women's plummeting workplace participation rate, grow wages, and allow record immigration levels to subside to more moderate historical averages.

Let's see if this is his stance next month.

I should also point out that the jobs that the immigrants and temporary workers are doing (lawn care, dishwashing, etc) are not highly sought after by women ... or anyone else.

So the consensus is that,

the debt is too big and can't be done.

Trump can't do it but bernie can get it rolling in 1 term.

The world's economy will collapse if Trump tries.

Trump will sell the public school buildings.

Will let saudi arabia drill on fed land.

And no other plans from the field of runners.

OK! Now we're getting somewhere!

wtf is wrong with people?!

a reply to: xuenchen

This is a man who "borrows" a fan made campaign that was "borrowed" from a video game-is borrowing a part of his 8 year plan?

originally posted by: burgerbuddy
So the consensus is that,

the debt is too big and can't be done.

I'd agree... it's too big and too complex.

Trump can't do it but bernie can get it rolling in 1 term.

I don't think Bernie can eliminate it, either.

The world's economy will collapse if Trump tries.

Nah. But the US economy won't do well.

Trump will sell the public school buildings.

No, those are local and not federal. It's the federal assets he wants to sell.

Will let saudi arabia drill on fed land.

Yes, if they come up with the money.

And no other plans from the field of runners.

Here's Hillary's plan

Here's Bernie's (I like his addressing the infrastructure)

Ted Cruz is all about the flat tax (which I like)

Kasich says he can balance the budget in 8 years

...and even the retired candidates had fiscal plans that you might enjoy reading. Google for 'fiscal plan' and the candidate of your choice.

originally posted by: Byrd

originally posted by: burgerbuddy
So the consensus is that,

the debt is too big and can't be done.

I'd agree... it's too big and too complex.

Trump can't do it but bernie can get it rolling in 1 term.

I don't think Bernie can eliminate it, either.

The world's economy will collapse if Trump tries.

Nah. But the US economy won't do well.

Trump will sell the public school buildings.

No, those are local and not federal. It's the federal assets he wants to sell.

Will let saudi arabia drill on fed land.

Yes, if they come up with the money.

And no other plans from the field of runners.

Here's Hillary's plan

Here's Bernie's (I like his addressing the infrastructure)

Ted Cruz is all about the flat tax (which I like)

Kasich says he can balance the budget in 8 years

...and even the retired candidates had fiscal plans that you might enjoy reading. Google for 'fiscal plan' and the candidate of your choice.

I strongly suspect there is far more waste in the system than the politicians admit to. I heard some pretty low numbers quoted in one of the debates to attack Trump on his plans. I would not be surprised at all if that waste was in the hundreds of billions per year. Some analysis in the Uk recently showed that the UK's entire annual deficit could be covered by cutting waste (estimated to be at £120bn). What is the REAL US number for budget waste I wonder... $0.5trillion? Myabe enough to cover the entire deficit?
Who knows, but I think there will be a lot of people quite nervous about the microscope that will be put on them if Trump becomes president.

I don't believe that it will be possible to wipe out the National Debt as Trump says, but balancing the budget may be a whole lot easier than people think.