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Thread started 12/05/18 10:31am

Ugot2shakesumt
hin

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Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

We’ve all talked about this here. We all what will happen with possibly another Democrat ending up cleaning up for yet another buffoon Republican President.

The entire article is worth a read. Click the link to read

Here’s a snip


https://www.thedailybeast...p?ref=home



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.

The episode illustrates the extent of the president’s ambivalence toward tackling an issue that has previously animated the Republican Party from the days of Ronald Reagan to the presidency of Barack Obama.

But for those who have worked with Trump, it was par for the course. Several people close to the president, both within and outside his administration, confirmed that the national debt has never bothered him in a truly meaningful way, despite his public lip service. “I never once heard him talk about the debt,” one former senior White House official attested.

Marc Short, who until recently worked for Trump as his legislative affairs director, said he believed the president recognized “the threat that debt poses” and he pointed to Trump’s concern “about rising interest rates” as evidence of his concern for the matter.

“But there’s no doubt this administration and this Congress need to address spending because we have out-of-control entitlement programs,” Short said, adding, “it’s fair to say that... the president would be skeptical of anyone who claims that they would know exactly when a [debt] crisis really comes home to roost.”

Recent reports have suggested that Trump is determined, at least rhetorically, to address the issue. Hogan Gidley, a spokesman for the president, noted that the president and his team have proposed policies to achieve some deficit reduction, “including in his first budget that actually would’ve balanced in 10 years, a historic, common-sense rescissions proposal.”

But Gidley also passed the buck to the legislative branch. “While the president has and will continue to do everything in his power to rein in Washington’s out-of-control spending,” he said, “the Constitution gives Congress the power of the purse and it’s time for them to work with this president to reduce the debt.”
CROOKED TRUMP. LOCK HIM UP!
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Reply #1 posted 12/05/18 11:44am

RodeoSchro

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He might be here when it blows up. All it will take is for interest rates to increase a couple percentage points. Kablooey.
The funny thing is that GOP politicians have advocated deficit spending because it stimulates the economy. But aren't they really saying that capitalism all by itself isn't enough to make the American economy hum?

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Reply #2 posted 12/05/18 12:19pm

Ugot2shakesumt
hin

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RodeoSchro said:

He might be here when it blows up. All it will take is for interest rates to increase a couple percentage points. Kablooey.
The funny thing is that GOP politicians have advocated deficit spending because it stimulates the economy. But aren't they really saying that capitalism all by itself isn't enough to make the American economy hum?




That’s what they say, that it ‘stimulates’ the economy. But what they don’t say is that it only temporary ‘stimulates’ the economy, while permanently increasing the bank accounts of the rich special interests that bribed them and no one else.
CROOKED TRUMP. LOCK HIM UP!
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Reply #3 posted 12/05/18 3:15pm

IanRG

Ugot2shakesumthin said:

We’ve all talked about this here. We all what will happen with possibly another Democrat ending up cleaning up for yet another buffoon Republican President. The entire article is worth a read. Click the link to read Here’s a snip https://www.thedailybeast...p?ref=home 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. The episode illustrates the extent of the president’s ambivalence toward tackling an issue that has previously animated the Republican Party from the days of Ronald Reagan to the presidency of Barack Obama. But for those who have worked with Trump, it was par for the course. Several people close to the president, both within and outside his administration, confirmed that the national debt has never bothered him in a truly meaningful way, despite his public lip service. “I never once heard him talk about the debt,” one former senior White House official attested. Marc Short, who until recently worked for Trump as his legislative affairs director, said he believed the president recognized “the threat that debt poses” and he pointed to Trump’s concern “about rising interest rates” as evidence of his concern for the matter. “But there’s no doubt this administration and this Congress need to address spending because we have out-of-control entitlement programs,” Short said, adding, “it’s fair to say that... the president would be skeptical of anyone who claims that they would know exactly when a [debt] crisis really comes home to roost.” Recent reports have suggested that Trump is determined, at least rhetorically, to address the issue. Hogan Gidley, a spokesman for the president, noted that the president and his team have proposed policies to achieve some deficit reduction, “including in his first budget that actually would’ve balanced in 10 years, a historic, common-sense rescissions proposal.” But Gidley also passed the buck to the legislative branch. “While the president has and will continue to do everything in his power to rein in Washington’s out-of-control spending,” he said, “the Constitution gives Congress the power of the purse and it’s time for them to work with this president to reduce the debt.”

.

It is how he ran his businesses - when the debt gets too high, stop paying contractors and suppliers and periodically send parts into bankrupcy

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Reply #4 posted 12/05/18 4:46pm

Ugot2shakesumt
hin

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IanRG said:



Ugot2shakesumthin said:


We’ve all talked about this here. We all what will happen with possibly another Democrat ending up cleaning up for yet another buffoon Republican President. The entire article is worth a read. Click the link to read Here’s a snip https://www.thedailybeast...p?ref=home 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. The episode illustrates the extent of the president’s ambivalence toward tackling an issue that has previously animated the Republican Party from the days of Ronald Reagan to the presidency of Barack Obama. But for those who have worked with Trump, it was par for the course. Several people close to the president, both within and outside his administration, confirmed that the national debt has never bothered him in a truly meaningful way, despite his public lip service. “I never once heard him talk about the debt,” one former senior White House official attested. Marc Short, who until recently worked for Trump as his legislative affairs director, said he believed the president recognized “the threat that debt poses” and he pointed to Trump’s concern “about rising interest rates” as evidence of his concern for the matter. “But there’s no doubt this administration and this Congress need to address spending because we have out-of-control entitlement programs,” Short said, adding, “it’s fair to say that... the president would be skeptical of anyone who claims that they would know exactly when a [debt] crisis really comes home to roost.” Recent reports have suggested that Trump is determined, at least rhetorically, to address the issue. Hogan Gidley, a spokesman for the president, noted that the president and his team have proposed policies to achieve some deficit reduction, “including in his first budget that actually would’ve balanced in 10 years, a historic, common-sense rescissions proposal.” But Gidley also passed the buck to the legislative branch. “While the president has and will continue to do everything in his power to rein in Washington’s out-of-control spending,” he said, “the Constitution gives Congress the power of the purse and it’s time for them to work with this president to reduce the debt.”

.


It is how he ran his businesses - when the debt gets too high, stop paying contractors and suppliers and periodically send parts into bankrupcy



Yes. Sadly. But we as a nation are just as guilty as we allow it.
CROOKED TRUMP. LOCK HIM UP!
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