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Trump vowed to eliminate debt in 8 years; instead on track to increase it 50%

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Trump vowed to eliminate debt in 8 years; instead on track to increase it 50%

 
Old 03-18-2019, 07:29 PM
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pdiddy972
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Default Trump vowed to eliminate debt in 8 years; instead on track to increase it 50%

https://outline.com/x4AJaJ

In March of 2016, then candidate Donald Trump told The Washington Post he could eliminate the entire U.S. debt in eight years. Now that he’s president, Trump is doing the exact opposite.

Trump’s budget — his own budget — projects debt held by the public will hit $22.8 trillion by 2025, more than 50 percent higher than the year he took office (debt held by the public was $14.7 trillion in 2017).

That’s the rosy forecast. Trump’s budget relies on “gimmicks” to keep the debt rising by “only” that much, experts across the political spectrum say. Trump predicts the economy will grow at a home-run pace with no recessions for the next decade, and he proposes massive cuts to education, health care and other nondefense parts of the budget that will not be enacted.

“The president makes heroic assumptions about economic growth and deep cuts to domestic discretionary spending and health care and yet he still can’t balance the budget,” said Brian Riedl, a senior fellow at the Manhattan Institute and former chief economist for Sen. Rob Portman (R-Ohio).

The president’s budget forecasts about 3 percent growth every year for the next decade, while most other experts, including the nonpartisan Congressional Budget Office, predict growth will be just under 2 percent a year. That extra percent of growth saves Trump more than $3 trillion, according to Riedl’s calculations.

To put it another way, if the economy does not have an awe-inspiring ride in the next decade and instead performs more like what CBO anticipates, Trump would be on track to add close to $10 trillion to debt held by the public by 2025 — more than the $7 trillion added under former president Barack Obama.
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Old 03-18-2019, 07:31 PM
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Is the eight years up yet? We will see how he does on the debt after his next term as your president.
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Old 03-18-2019, 07:34 PM
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Cut, paste and BELIEVE, PEOPLE!
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Old 03-18-2019, 07:37 PM
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Originally Posted by Axelrod View Post


Cut, paste and BELIEVE, PEOPLE!
Yeah, that wacky liberal-biased CBO... who can believe them??
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Old 03-18-2019, 07:39 PM
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Originally Posted by pdiddy972 View Post
Yeah, that wacky liberal-biased CBO... who can believe them??
Yeah, we should believe them without question. How did that "if we repeal ACA, 25 million people will lose their insurance" thing work out? Oh yeah, that's right, it was all a lie.
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Old 03-18-2019, 07:40 PM
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Originally Posted by pdiddy972 View Post
Yeah, that wacky liberal-biased CBO... who can believe them??
CBO is WRONG all the time. Always HAS been

Seriously dude, you're embarrassing yourself...
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Old 03-18-2019, 07:41 PM
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gullible.
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Old 03-18-2019, 07:54 PM
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Is MarketWatch gullible and fake news, too?

https://www.marketwatch.com/story/ho...rse-2019-03-06

Trump tied both issues together during his 2016 campaign, telling, in a stunningly ignorant interview with Bob Woodward of the Washington Post, that by simply cutting better trade deals, he could wipe out that debt. At the time, the total U.S. trade deficit with the world was $531 billion—or about 2.5% of the debt.

Trump made it sound like eliminating the debt would be a piece of cake, and yet the red ink continues to gush. What happened? For starters, the president and Republicans—who dominated Congress for his first two years in office—spent big and passed a a tax cut that hasn’t been paid for.

You don’t have to be a rocket scientist to know what happens when the government spends more while taking in less: the deficit goes up. The federal deficit, $665 billion in fiscal 2017, is projected to be $984 billion in fiscal year 2019 (which began on October 1). That’s an increase of 48% in three years. To finance it, we have to borrow more, and guess who our biggest foreign lender is? Hint: It’s a five-letter word starting in “C” and ending in “A.” All this gets added tacked on to the debt, of course, and as the interest piles up, we’ll have to borrow even more. It’s a vicious and costly circle.
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Old 03-18-2019, 07:57 PM
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Many of us here have expressed our disappointment (and in some cases, outright disgust), with the GOPe continuing to spend like drunken sailors. Guess pdiddy pmissed those posts...

But as others have said, 8 years ain't CLOSE to being up yet pdiddy expects us to take him seriously.

(again, not to mention the CBO is wrong ALL THE TIME. Yet the OP expects us to take the CBO as pgospel.)

Last edited by KenHorse; 03-18-2019 at 07:58 PM.
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Old 03-18-2019, 07:58 PM
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Originally Posted by pdiddy972 View Post
Yeah, that wacky liberal-biased CBO... who can believe them??
probably as much as we can you.
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Old 03-18-2019, 08:02 PM
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Democrats are unhappy about spending.
Budgets come from the House.
Democrats control the House.

Progressive communist takeaway: Trump's fault

Bonus points: the two faced hypocritical ***** bitch about spending while telling us they want more spending.

Last edited by Red99SS; 03-18-2019 at 08:03 PM.
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Old 03-18-2019, 08:12 PM
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Originally Posted by Red99SS View Post
Democrats are unhappy about spending.
Budgets come from the House.
Democrats control the House.

Progressive communist takeaway: Trump's fault

Bonus points: the two faced hypocritical ***** bitch about spending while telling us they want more spending.
Kind of like inviting-in tens-of-millions of no/low skilled foriegners then complaining wages are stagnant or too low for unskilled jobs.
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Old 03-18-2019, 08:49 PM
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Originally Posted by pdiddy972 View Post
What was the debt again when Trump took office?

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Old 03-18-2019, 09:10 PM
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CBO Budget Projections are no better than throwing DARTS AT THE CHART..

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Old 03-18-2019, 09:13 PM
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Originally Posted by blaforce View Post
Is the eight years up yet? We will see how he does on the debt after his next term as your president.
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Old 03-18-2019, 09:14 PM
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There is a very simple way for the United States to become debt free and it does not require raising any taxes.
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Old 03-18-2019, 09:18 PM
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Originally Posted by NBM LS1 M6 View Post
There is a very simple way for the United States to become debt free and it does not require raising any taxes.

Let me guess..deport 'ALL ILLEGALS'...
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Old 03-18-2019, 09:26 PM
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Since the Dems have now suddenly transmogrified themselves into ‘deficit hawks’, how about they reach across the aisle and work on cutting spending?

Yeah, that’s what I thought ...
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Old 03-18-2019, 09:30 PM
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Originally Posted by 69L46 View Post
Since the Dems have now suddenly transmogrified themselves into ‘deficit hawks’, how about they reach across the aisle and work on cutting spending?

Yeah, that’s what I thought ...
Cutting the military is all they are interested in.
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Old 03-18-2019, 09:37 PM
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If Trump was the evil dictator the left makes him out to be, there would be a balanced budget AND a wall...

Unfortunately, he has to deal with Congress, who apparently don't give a rat's toocus about the deficit.

But it's nice to see the left all concerned about spending now. I don't remember it being an issue from 2008 to 2016, or nowadays when they talk about free college, medicare for all, living wage, etc... No deficits to worry about then, I'm sure...
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