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

originally posted by: Gothmog
a reply to: crazyewok
First , that was meant as a little poke at our current Admin
Second , you better check your figures again. Obama's spending has equaled or exceeded all other Presidents added together.

Don't going to deny he has spent more than bush but $8 trillion was already there when he took office and even if Obama had not taken office, on current course from bush you would still be likely $15 trillion in debt.

Still obamas got a lot of blame as he should of addressed the issue in 2009 when he took over not made it worse.

originally posted by: BlueAjah
...

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?

If you want to think of it in those terms, the US GDP is around $18-19T, the debt $19-20T. Let's call it 105% Debt:GDP. From a household standpoint, I would absolutely take it. Let's say, annual income of $100,000, with a $600,000 home, $500,000 in savings, no credit card debt and a $105,000 mortgage. That's closer to a realistic assessment/comparison than what most people realize.

A 60% Debt: GDP would be better, but much lower would probably mean we're missing out on a lot of wise investment.

Yes, there is a great deal of wasteful spending, but looking at the debt number is just silly without considering the comparative factors (GDP, Net Worth, etc.)

a reply to: imjack

Actually, not all of the deficit is owed to our government.

We owe japan and china about 1.2 trillion each.
We owe over 5 trllion to other countries

a reply to: dogstar23

The US has been spending about 90% of tax revenue to pay for entitlement programs and interest on the debt. That does not leave much for running the country, which is a reason we keep getting more in debt. The deficit rises each year. If it were a logical balance with the GDP, it would not increase constantly.
If we did not have interest on the debt, we would have more money to run the country.

So, actually it is comparative to a household. If you get into debt and keep paying more interest, you get into more debt, and eventually you are getting behind instead of ahead.

How is a man who filed bankruptcy 4 different times and made a Casino of all things go broke, plan on getting us out of debt in 8 yrs?

This man has no realistic view of actual economics. how the federal reserve works, or currencies.

He knows how things work in HIS microcosm of the universe and real estate, but other then that, its like asking an inpatient physician to perform brain surgery, its not in his scope

People need to wake up if they actually believe this crap

a reply to: CrazyWater

He did not go bankrupt 4 times.
Read more about that above

originally posted by: CrazyWater
How is a man who filed bankruptcy 4 different times and made a Casino of all things go broke, plan on getting us out of debt in 8 yrs?

This man has no realistic view of actual economics. how the federal reserve works, or currencies.

He knows how things work in HIS microcosm of the universe and real estate, but other then that, its like asking an inpatient physician to perform brain surgery, its not in his scope

People need to wake up if they actually believe this crap

How do you know what Trump has learned over his 40-50 years in business?
You seem pretty sure of the detail and I am wondering how that is...

originally posted by: UKTruth

originally posted by: CrazyWater
How is a man who filed bankruptcy 4 different times and made a Casino of all things go broke, plan on getting us out of debt in 8 yrs?

This man has no realistic view of actual economics. how the federal reserve works, or currencies.

He knows how things work in HIS microcosm of the universe and real estate, but other then that, its like asking an inpatient physician to perform brain surgery, its not in his scope

People need to wake up if they actually believe this crap

How do you know what Trump has learned over his 40-50 years in business?
You seem pretty sure of the detail and I am wondering how that is...

Yes, and the casino bankruptcy thing isn't limited to a Donald Trump property.
Casinos are all having trouble in Atlantic City.
NY Post

Has he actually set out precisely how he intends to do this?

I mean if he stopped all spending on the military, he could probably do it. But that would collapse the US economy and put millions out of work.

Or is it just more hand-wavey vagueness of 'We'll make the BEST trade deals?'

Like... the people doing trade deals until now had no idea what they were doing, but here comes Trump to fix it all for them?

originally posted by: butcherguy

originally posted by: UKTruth

originally posted by: CrazyWater
How is a man who filed bankruptcy 4 different times and made a Casino of all things go broke, plan on getting us out of debt in 8 yrs?

This man has no realistic view of actual economics. how the federal reserve works, or currencies.

He knows how things work in HIS microcosm of the universe and real estate, but other then that, its like asking an inpatient physician to perform brain surgery, its not in his scope

People need to wake up if they actually believe this crap

How do you know what Trump has learned over his 40-50 years in business?
You seem pretty sure of the detail and I am wondering how that is...

Yes, and the casino bankruptcy thing isn't limited to a Donald Trump property.
Casinos are all having trouble in Atlantic City.
NY Post

Indeed.

It seems that a lot of people know the detail of exactly what Trump knows or doesn't know. I am wondering how that is. For example, the statement that he knows nothing about currencies. ..

It's all a gamble...

Bernie - Chances are, none of his plans will make it through Congress. If they do, we'd have all just voted ourselves a huge pay cut. If they don't, stagnation.

Hillary - Might as well re-elect Obama...same difference, but with the added bonus of foreign policy ineptness thrown in.

Cruz - Why bother, he's got zero chance against any of the other candidates, and it's a good thing, as his evangelical old school GOP methods are completely out of touch with current society.

Trump - Like Bernie, he also would face an uphill battle with Congress. Unlike Bernie, he may still be able to push things through. His ideas are interesting, but risky, but if successful, huge payoffs, if failures, minor disasters.

Personally, out of all of the above, I'll roll the dice with crazy.

a reply to: Gazrok

Are you seriously contemplating giving Donald Trump the access to the us nuke arsenal?
¿Trump with nukes?
Say it out loud.
trump with nukes.
how could that possibly end well???

originally posted by: dashen
a reply to: Gazrok

Are you seriously contemplating giving Donald Trump the access to the us nuke arsenal?
¿Trump with nukes?
Say it out loud.
trump with nukes.
how could that possibly end well???

Trump won't use them.

He a mysogintistc, racist arrogant arse hole.

But he is smart and smart enough to know using nukes won't make the USA "great again" but will destroy it.

a reply to: dashen

Trump is not going to nuke anyone.
The media has been spinning that like crazy without considering the facts.
If you want to be safe, you never say that you will never use a defense.
Peace comes from showing strength.
Trump does not want war. He is smart.

"Si vis pacem, para bellum"
If you want peace, prepare for war.

a reply to: imjack
I am looking at the money that the country has borrowed, and for expenses from long ago. These should be payed off, while there will always be debt, the reality is that wars that are long over and gone should be paid off, nor should the USA be putting expenses on a credit card.

It also is apparent that the USA tends to take money from one part to pay for another, making the first part to be in a bad way. It is financially irresponsible and should not be continued on.

And it requires congress to approve all of the the budget. It takes them to say yes or no for increasing or decreasing the national debt and to where and how the money is spent.

originally posted by: Painterz
Has he actually set out precisely how he intends to do this?

Yes. I was just going to bring this to the table and was checking to see if folks have mentioned it.

He's wanting to sell off US assets

You know... like our public lands. Now the National Parks can be owned by Saudi Arabia (it apparently has not occurred to him that investors from other countries are the ones wealthy enough to buy these assets) and other countries can drill for oil on our offshore lands. He would also have to shut most of the government down - leaving his own self to try and run everything else.

There are government buildings to be sold as well - the only buyers, of course, are large conglomerates and the super-wealthy. I think he'd sell off the Smithsonian in a heartbeat if he thought it would bring more money in.

Edited to add that a more complete report is in this Washington Post article

He claims that he will renegotiate trade, and blithely assumes that our trade partners will agree to his terms with no negotiating.

Also, all government employees must sign "non-disclosure agreements" (bye-bye whistleblowers)

a reply to: imjack

So you failed at your analogy and then come back and throw up a strawman.

You should go back to playing video games and smoking pot, because your incoherent rambling in thread after thread isn't winning you any marks around here.

He could if he uses $2 trillion of the budget every year. That's about half the budget. Gets rid of military spending and useless investments. And turns money into positive revenue generators.

In 8 years $16 trillion of the debt would be paid off.

He would make history.

originally posted by: happyending
He could if he uses $2 trillion of the budget every year. That's about half the budget. Gets rid of military spending and useless investments. And turns money into positive revenue generators.

In 8 years $16 trillion of the debt would be paid off.

He would make history.

But he would be blamed for starving senior citizens and school children, even if he didn't cut those programs.... because he is a Republican.

originally posted by: butcherguy

originally posted by: happyending
He could if he uses $2 trillion of the budget every year. That's about half the budget. Gets rid of military spending and useless investments. And turns money into positive revenue generators.

In 8 years $16 trillion of the debt would be paid off.

He would make history.

But he would be blamed for starving senior citizens and school children, even if he didn't cut those programs.... because he is a Republican.

Why would someone blame him for starving seniors and children if he cuts the military budget or useless investments? No one said he would cut Social Security or food stamps.

I think you're being a bit dramatic.