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

Absolutely spot on. Bravo.

 

Sez who?

This is fake news

 

Says LOGIC. And paying attention. Which is why it befuddles you.

 

Ok

Just as I said, its fake news

 

Legitimate wars.

Obama paying off friends and political allies? Not legitimate.

 

The entire Obama “stimulus package” went to his friends and allies.

 

There was NO legitimate reason to go to war in Iraq. NONE. ZERO. NADA.

And the war in Afghanistan was debatable. I dont believe a full scale invasion was warranted.

 

Yep, and people just blew money they don't have during black Friday like no tomorrow -- putting the shopping onto the credit card. We are not quite at 2006 craziness levels yet, when "buy now pay 2 years later" ads were commonplace. I don't know how any company could think it is a good business model to base sales on people who cannot afford to buy your stuff, unless they defer payments for two years.

New car loans are at an average duration of 60+ months, with 72 month loans becoming common place. That tells you all you need to know about the financial health of the consumer: The average consumer can't really afford a new car, plain and simple. They buy them anyway on loaned money, eventually crashing the economy in the future when the loan service payments become unsustainable. And the car makers play along by making hay when the sun shines, probably knowing full well that someone who buys a car now on a 72 month loan won't be buying another car for the next 6 years. Boom and bust at its best.

 

We have seen slower growth under Trump....https://www.washingtonexaminer.com/national-debt-grew-more-slowly-in-fy-2017-under-trump

We need Congress to pass lower spending bills...and entitlement reform to get this under control. Tax revenue continues to climb....it's not the issue

 

Make that 700.

 

The issue is Don wants economic growth while he is prez and if that means getting it with increased deficit spending, an anomaly during times of GDP growth, he couldn't care less. It's about him, not the country.

 

DOW PLUNGES 700 POINTS, BRINGING 2-DAY LOSES TO 1,500 POINTS

 

Bull tell me how how high redistribute wealth to some one other than bureaucrats and politicians?

 

We have economic growth...and economic growth benefits everyone...not just the President. The President however, doesn't pass the budget...he certainly signs it, but doesn't pass it...it's on Congress to pass a budget, Congress is the main source of the deficit.

 

Wrong deficit spending doesn't drive the economy the economy would be just fine without it. What drives the economy is wealth creation the higher your taxes the less wealth creation you'll have and the larger the underclass will be.

 

Ridiculous. Has the deficit been positively or negatively impacted by the tax cut Don encouraged and signed? How is the tax cut expected to impact the deficit going forward?

"We have economic growth...and economic growth benefits everyone"..................but disproportionately. And when growth is fueled by deficit spending it ultimately hurts everyone by increasing the national debt.

 

Ridiculous. Deficit spending is what fueled GDP growth during 2018 and as its effect wears off GDP will slow, tax receipts will decline, unemployment will rise, and the deficit will grow.

 

Positive...tax revenue has increased...the issue is spending...

Not sure what you mean by disporportionately? Of course...I guess...yeah it benefits those that take advantage of it, work, invest and save....v. those that continue not to.

I agree with your last point...but that's not happening now...that did happen with such things as the 2009 "Stimulus" package....it had a major negative effect, and we saw unemployment grow

 

To be clear, what I mean by deficit spending is the willingness to see the deficit grow in return for businesses and consumers having more money to spend. But it also means the government spending more........on things like defense for example.

 

BS. Deficit spending fuels little more than debt and government growth.

 

Economists Believe the Stimulus Bill Reduced Unemployment


Question: Because of the American Recovery and Reinvestment Act of 2009, the United States unemployment rate was lower at the end of 2010 than it would have been without the stimulus bill.

Response of economists surveyed
Agree
Disagree
Uncertain
36
1
0


Source: University of Chicago Initiative on Global Markets, Economic Experts Panel, July 29

You illustrate why it can be frustrating to debate Trumpette's. You folks have a set of "facts" that do no coincide with reality.

 

Let's see, the recent tax cuts should then stimulate wealth creation. However, they did not. They stimulated wealth extraction by stock buybacks. That's what stock buybacks are, they extract wealth that has been created previously, often by people other than the ones doing the buyback, by artificially increasing share price.

If the tax cuts were actually creating wealth, they would be used to invest in innovation, equipment, workers etc. However, that has not happened, predictably so.

 

NOnsense wages are increasing there are far more jobs available than people to fill them, perpetuating the lies the Alphabet soup news media produce on a daily basis is not the path of truth or reality..

 

The bottom line is it takes both houses and the president to reduce or eliminate deficit spending and paying down the debt. That hasn't happened in my lifetime and I now believe it never will no matter which party controls what. So this whole thread is nothing but another Trump hating fest.

 

Again sir it isn't deficit spending that is driving the economy.