The Deficit

[Tom]

Originally Posted by woodtoo

Where is the pitchfork?

It will be in his ass!

[Clocker]

From former OMB Director David Stockman:

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

[Clocker]

Originally Posted by boxcar

Oh...Trump most definitely has Social Security on his radar for his second term.

But does he have a second term on his radar?

[davew]

Originally Posted by Clocker

But does he have a second term on his radar?

He does, but 0bama is going to campaign against him.

[Clocker]

Originally Posted by davew

He does, but 0bama is going to campaign against him.

I doubt the reality of the first part, and the relevance of the second. Obama has become the historic black equivalent of Jimmy Carter.

[mostpost]

Originally Posted by chadk66

liberals never care about deficits unless a republican is in office That being said I think the major spending cuts will be coming after the mid terms. And if the dems do as well as they think they're going to do they can lead the way in deficit reduction. We all know how that's going to play out

You have that backwards. Republicans only care about deficits when Democrats are in office. When Republicans get in office they cut taxes and spend like drunken sailors then blame Democrats for the deficit when the Dems return to power.

[Tom]

Speaking of deficits, hello mostie!

[davew]

Right now, when the government can borrow money at very low interest rates, there is no big problem with repayment, as they can roll-over for years. It is not like a revolving balance on a credit card with people paying 10%, 18%, 23%, ... and trying to get it paid off.

When the debt gets very high, there are government assets that can be sold such as the 28% of USA land owned by the government.





If that does not work, then inflation could be used to make old debt very small compared to current revenues. That assumes that government CAN run on positive cash flow.


PS Do you feel Trump will double the debt during his 8 years like 0bama did?

[chadk66]

Originally Posted by mostpost

You have that backwards. Republicans only care about deficits when Democrats are in office. When Republicans get in office they cut taxes and spend like drunken sailors then blame Democrats for the deficit when the Dems return to power.

that explains why so many blue states are near bankrupt

[elysiantraveller]

I don't know where all these Trump spending cuts are coming from. He hasn't given any indication it's on the agenda as he aims for a $1-1.5 Trillion Infrastructure plan. He hopes to have anywhere from 50-80% privately funded depending on the source but I haven't heard anything from any level of the government indicating a deficit reduction.

[davew]

Originally Posted by Clocker

I doubt the reality of the first part, and the relevance of the second. Obama has become the historic black equivalent of Jimmy Carter.

You underestimate the 'popularity' of 0bama. He is the most popular president since Bill Clinton.

[reckless]

Originally Posted by davew

He does, but 0bama is going to campaign against him.

I would just love the 2020 election to pit President Donald J. Trump versus the policies and record of one Barry Obama. This 'campaign', so to speak, will result in The Donald's final and complete eradication of America's Biggest Mistake.

But it will not happen simply because Barry O lacks the will, the brainzs and the ballz to compete despite 100+ per cent support by the discredited media. Plus, since Trump, the country realizes how large a loser Barry's failed tenure actually was.

And note, Barry's probable surrogates are an even bigger joke -- Corey Booker, Joe Biden, Kamala Harris ...

Bring it on!

[Saratoga_Mike]

Originally Posted by mostpost

You have that backwards. Republicans only care about deficits when Democrats are in office. When Republicans get in office they cut taxes and spend like drunken sailors then blame Democrats for the deficit when the Dems return to power.

Sorry, but there's tremendous hypocrisy on the deficit issue from both sides.

[Clocker]

Originally Posted by Saratoga_Mike

Sorry, but there's tremendous hypocrisy on the deficit issue from both sides.

Many Democrats are pretty honest about it. They want to tax a lot more and spend a lot more. Irrational, but honest.

[davew]

Originally Posted by reckless

I would just love the 2020 election to pit President Donald J. Trump versus the policies and record of one Barry Obama. This 'campaign', so to speak, will result in The Donald's final and complete eradication of America's Biggest Mistake.

But it will not happen simply because Barry O lacks the will, the brainzs and the ballz to compete despite 100+ per cent support by the discredited media. Plus, since Trump, the country realizes how large a loser Barry's failed tenure actually was.

And note, Barry's probable surrogates are an even bigger joke -- Corey Booker, Joe Biden, Kamala Harris ...

Bring it on!

The dims will not be running on 0bamas policies, but will be using his charisma in the campaign for whomever...