Trump On Coming Debt Crisis: 'I Won't Be Here' When It Blows Up

Discussion in 'Political Opinions & Beliefs' started by Guyzilla, Dec 5, 2018.

  1. Guyzilla

    Guyzilla Well-Known Member Past Donor

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    Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of the importance of tackling the national debt.

    Sources close to the president say he has repeatedly shrugged it off, implying that he doesn’t have to worry about the money owed to America’s creditors—currently about $21 trillion—because he won’t be around to shoulder the blame when it becomes even more untenable.

    The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the national debt in the not-too-distant future. In response, Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

    “Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.

    Read more: https://www.thedailybeast.com/trump-on-coming-debt-crisis-i-wont-be-here-when-it-blows-up
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    The chiding, to make Dems broke when it comes to human need, is ONLY to set up the Republicans, for santa clause.

    AS did REagan, you MUST throw money down a rathole, to get it off the market when Dems want to help their fellow man. Doesn't matter the purchase. Star wars, whatever.

    This is the aim of our King as well. He will use that goose of our economy, and the retraction of dollars, to CLAIM his mantle as genius. Like Reagan.

    When in reality, it is setting us up for fail. MUCH moar important than spending dollars, is getting good return for that expense. And infrastructure, and making folks productive are the GOOD ways to spend.

    What Trump did, is he KNEW industry and business would buy back stock. This is essentially, throwing money down a rathole.

    Almost NONE of it went to wages. Or expansion.

    But, as Trump has said, that is NOT his concern. Burdening us in the future is moot, he is almost dead, maybe 10 if we are lucky{sic}.

    The Trump agenda, eat, drink and be merry, for tomorrow we suffer, sounds JUST like Reagan's interior dude that said, why conserve or not pollute, Jesus will be here likely next week.

    And this is the SO CALLED fiscally Conservative folks.
     
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  2. Steady Pie

    Steady Pie Well-Known Member Past Donor

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    The national debt is like golf. Every change of government half the country starts hating it. The next cycle they couldn't care less.

    The system is broken. The expansion of credit must continue unabated or the system will collapse. The country is addicted to crack cocaine. Use must continue and indeed accelerate otherwise crushing withdrawals will destroy the economy.

    Every decade or two we have a "crash" where the corporations best at colluding with the state get their losses covered because it they didn't the system would collapse. The market crashes, they buy it up, politicians get to raise spending without raising taxes, just kick the can down the road.

    Its really the only bipartisan issue at the grassroots level. People hate how these elites in business and government killed their competition and swept it all under the rug.

    But it will continue. It has to. Anyone who proposes changing course will never see power.
     
  3. PeppermintTwist

    PeppermintTwist Well-Known Member Past Donor

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    The right wing never knew how to govern and have become the party of thieves and treasury looters. As for the grifter in The White House, he has always been a self-serving sociopath so nothing new to see there.
     
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  4. Moonglow

    Moonglow Well-Known Member

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    The US economy would be doing better if he would shut up and sit tight..
     
  5. Moonglow

    Moonglow Well-Known Member

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    Congress controls the budget and my old buddy Womack from NW Arkanass is on the budget committee and is calling for paying off the debt and balancing the budget. Something you would expect rich folks to be able to handle, but I suppose not since they hire attorneys and accountants for that.
     
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  6. garyd

    garyd Well-Known Member

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    Oh for pete sake this country hasn't run a balanced budget since 1932 and Democrats have been in Charge most of that time. Every president since WWII has signed off on more spending than all of his predecessors combined. It isn't a Republican or a Democrat thing it is a power game played by the politicians and the bureaucracy for their own benefit and not the country's. Blaming one party or the other for that aspect of things is either stupid or dishonest.
     
    Last edited: Dec 6, 2018
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  7. fmw

    fmw Well-Known Member

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    No it is called honesty. This position has been shared by every president since Andrew Jackson. That is why we have a 21 trillion debt.
     
  8. Texas Republican

    Texas Republican Well-Known Member Past Donor

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    As opposed to Obama who emptied the U.S. Treasury and gave it all to his friends and political allies.
     
  9. Josephwalker

    Josephwalker Banned

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    Good Lord yet another fake news unnamed source hit piece. Give it up already.
     
    Last edited: Dec 6, 2018
  10. Quantum Nerd

    Quantum Nerd Well-Known Member

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    That's correct.

    The issue is, however, that it is not the public debt, but private debt that will make our lives really hard:

    [​IMG]

    Since every dollar is loaned into existence, and reserve requirements of banks are low, the system has become addicted to ever increasing debt taking. We've seen in 2008 what happens when the private sector deleverages, even with government stepping in and picking up some borrowing, we were at a near depression.

    When this current business cycle ends, private debt loads will be even higher than in 2008. You can do the math.

    Reality is that NO PRESIDENT, whether GOP or Dem, will tackle this problem, because doing so will kill short term economic growth, which will kill their chances to be re-elected. That means the can will be kicked down the road, by both sides. The GOP just tends to make matters a bit worse by cutting some taxes on top of it, buying themselves some more present GDP growth on the back of future generations (i.e. deferred taxes).
     
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  11. Curious Always

    Curious Always Well-Known Member Past Donor

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    We have one party in this country and they are in 100% agreement on this issue. Why blame Trump for doing what every modern president has done? Neither the democrats nor the republicans can claim high ground on this issue. Anyone who points fingers is being 100% intellectually dishonest.
     
  12. AZ.

    AZ. Banned

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    Bull, one trys to help the masses, the other only the 1 %!
     
  13. Curious Always

    Curious Always Well-Known Member Past Donor

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    Please cite your evidence that the democrats, while in power, do everything they can to reduce our debt.
     
  14. opion8d

    opion8d Well-Known Member Past Donor

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    How about facts to uphold your claims. Got any?
     
  15. Giftedone

    Giftedone Well-Known Member Past Donor

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    I agree with everything you have said. One thing to add is that unlke the previous crashes since the end of WW2 - we are heading for a big one - the end of a so called "Grand Supercycle" wave after with the geopolitical map will have drastically changed.
     
  16. One Mind

    One Mind Well-Known Member Past Donor

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    Yes trump has a habit of voicing what the actions of both parties evidence. That debt does not matter. ha ha ha.

    At least he voices it, while the scumbags basically pull con games on the voters. This is why he is actually more honest than your typical repub or dem in DC. He voices exactly what congress has done for decades. ha ha ha. Trump is a mirror, revealing the true image of career politicians in DC. And sure, it pisses some folks off. Those who are allergic to the truth of reality.
     
  17. opion8d

    opion8d Well-Known Member Past Donor

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    Thanks for the chart. If anyone is wondering what "next big thing" will cause the next recession, now you know. Private debt has exploded as a percentage of GDP. An economic downturn forcing consumers and business to default will bring the whole system down - again. Scary.
     
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  18. perotista

    perotista Well-Known Member Past Donor

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    I think the "I won't be here when it blows up," syndrome has been present since Reagan. With presidents of both parties, with congresses of both parties in charge. The lone exception might be Bill Clinton and the GOP congress from 1995-2000.

    The problem is our elected officials can't see past the next election. It's well, if I cut spending, that will make the voters mad at me, then I won't win reelection. If I raise taxes, that will make the voters mad at me, then I won't win reelection. Presidents, senators, representatives, it doesn't matter.

    Throw in the fact that each president, senator, representative has their own pet projects and programs that they are unwilling to cut, you have deadlock and passing the debt further down the road.
     
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  19. Guyzilla

    Guyzilla Well-Known Member Past Donor

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    You are telling investors to SHUT UP. You are telling investors to BE STUPID.
     
  20. Guyzilla

    Guyzilla Well-Known Member Past Donor

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    It seems crystal clear that the right wing declares, HILLARY'S emails.
     
  21. Guyzilla

    Guyzilla Well-Known Member Past Donor

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    This is why CARTER is such a HEMAN and HERO. He told us we were going to have to learn how to live within our means. WE HATED HIM and called him a FAILED President.
     
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  22. Guyzilla

    Guyzilla Well-Known Member Past Donor

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    The outlook on our human dignity is at stake. And our progeny
     
  23. Turin

    Turin Well-Known Member

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    Im sure the trillions of dollars spent on wars started by a Republican president had NOTHING to do with our current economic issues either.... none at all..... Am I right comrade? eh?
     
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  24. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    The first thing you notice when looking at the federal deficits from fiscal 2007 (the U.S. government fiscal year ends in September) is that it increased by almost $1 trillion from fiscal 2008 (two months before Obama was elected and four months before he was sworn in) to fiscal 2009. It remained over $1 trillion per year for four years and got below Bush’s last years deficit in fiscal 2015. It continued to decrease until Obama’s last year and has increased in Trump’s first year in office.

    https://www.forbes.com/sites/chuckj...-than-reagan-h-w-bush-or-w-bush/#503840a61917
     
  25. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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