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Thread: The Deficit
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Old 02-04-2018, 05:35 PM   #17
Clocker
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Join Date: Jul 2013
Posts: 17,095
From former OMB Director David Stockman:

Quote:
The US economy is threatened by two giant problems which cause all others to pale into insignificance.

We are referring to a rogue central bank that has become an absolute enemy of capitalist prosperity and a fiscal doomsday machine that is hostage to the ceaseless budgetary demands of the Warfare State, the Welfare State and the Baby Boom's demographic imperatives.

For instance, in his triumphalist SOTU, the Donald didn't utter so much as a single syllable about the Fed, the budget, entitlements, the $1 trillion per year deficits looming ahead or the nation's soaring public debt. Yet after omitting virtually everything which counts, he went on to crow about how he is making America Great Again (MAGA) by making better trade deals and borrowing untold sums from future generations.

That is to say, when he did veer into fiscal territory it was to demand repeal of the sequester caps, which are the one thing that has slightly braked runaway spending, and to boast about his own favorite deficit financed twins: The $1.5 trillion tax cut already passed and the additional $1.5 trillion infrastructure boondoggle he proposed to lob on top.
https://www.zerohedge.com/news/2018-...tely-forgotten
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