Trump will eliminate the $19 trillion national debt “over a period of eight years”

[Sandy Shanks]

Trump will eliminate the $19 trillion national debt “over a period of eight years," or so he said. This may have come right after Trump promised that Mexico would build a wall for us and paying for it.

Incredibly, many believed him and voted for him. Of course, neither happened. Most of us knew that would be the case.

The reverse happened. Americans are paying for the wall, and Trump caused the National Debt to dramatically increase although there has been no wars, no recession, and there has been a booming economy.

On November 9, 2016, most of us knew that would happen, too.

CBS reports, "The U.S. government's budget deficit for the 2019 fiscal year surpassed the $1 trillion benchmark in August, the highest level in seven years."

The last time we hit this level was when President Obama was still battling the effects of the Great Recession, a global economic crisis he inherited from the previous Republican administration along with two of our longest wars.

CBS continued. "The government budget deficit climbed $169 billion to $1.07 trillion in the first 11 months of this budget year, as government spending this year outpaced tax collections in areas such as Social Security, Medicare, defense and interest payments on the national debt. With just one month left in the budget year, the deficit is up 18.8% over the year-ago period, according to the Treasury Department.

"The government has recorded trillion-dollar-plus deficits in only one other period — between 2009 through 2012, when federal spending shot up to cope with the worst financial crisis since the 1930s."

Thank you for your service, Mr. President. You're fired!

 

[rightwinger]

Trust him

He will do it this time....Honest

 

[Sunni Man]

Our wonderful Pres. Trump is the best thing to happen to this country in decades.

He deserves to be praised and admired by all citizens for his unselfish service and dedication to the nation.

Only miscreants and malcontents will deny this fact. ....

 

[Tijn Von Ingersleben]

Ain't gonna happen Trump.

 

[theHawk]

Trump will eliminate the $19 trillion national debt “over a period of eight years," or so he said. This may have come right after Trump promised that Mexico would build a wall for us and paying for it.

Incredibly, many believed him and voted for him. Of course, neither happened. Most of us knew that would be the case.

The reverse happened. Americans are paying for the wall, and Trump caused the National Debt to dramatically increase although there has been no wars, no recession, and there has been a booming economy.

On November 9, 2016, most of us knew that would happen, too.

CBS reports, "The U.S. government's budget deficit for the 2019 fiscal year surpassed the $1 trillion benchmark in August, the highest level in seven years."

The last time we hit this level was when President Obama was still battling the effects of the Great Recession, a global economic crisis he inherited from the previous Republican administration along with two of our longest wars.

CBS continued. "The government budget deficit climbed $169 billion to $1.07 trillion in the first 11 months of this budget year, as government spending this year outpaced tax collections in areas such as Social Security, Medicare, defense and interest payments on the national debt. With just one month left in the budget year, the deficit is up 18.8% over the year-ago period, according to the Treasury Department.

"The government has recorded trillion-dollar-plus deficits in only one other period — between 2009 through 2012, when federal spending shot up to cope with the worst financial crisis since the 1930s."

Thank you for your service, Mr. President. You're fired!

All those things could had happened, but Dems have to sabotage anything that is good for the country.

 

[MarcATL]

Republicans in Office simply means spend, spend, spend, spend, spend!!!

 

[Natural Citizen]

What we're witnessing are the last days of the Federal Reserve and the warfare-welfare system. That might be uneasy to grasp. But it's true.

For those who understand this, your work is simple. Do all that you can to ensure that the coming crisis results in a return to true free-markets, a constitutional republic, sound money and a foreign policy of peace and free trade.

 

[C_Clayton_Jones]

Our wonderful Pres. Trump is the best thing to happen to this country in decades.

He deserves to be praised and admired by all citizens for his unselfish service and dedication to the nation.

Only miscreants and malcontents will deny this fact. ....

A government budget deficit of $1.07 trillion is OK under a Republican president, and bad when a Democrat is president.

See how that works?

 

[Ray From Cleveland]

Well now, we've had a Democrat Congress for close to two years; you know, the people that do the spending and create the budget???

So what are the Democrats willing to give up that will bring down the deficit or perhaps the debt? Oh sure, they are willing to cut things the Republicans want like a strong military or perhaps tax cuts, but what will their sacrifices be?

My prediction? Now a Fn thing. In fact, the people who are currently in charge of our budget are talking about free college, national healthcare, paid leave from work, reparations.......

Under Trump, spending is out of control. If Democrats take leadership, imagine how much more out of control it will be then.

Democrat spending is designed to create more government dependents. Say what you will about Trump, but his ideas are to benefit the country, not the party.

 

[theHawk]

Our wonderful Pres. Trump is the best thing to happen to this country in decades.

He deserves to be praised and admired by all citizens for his unselfish service and dedication to the nation.

Only miscreants and malcontents will deny this fact. ....

A government budget deficit of $1.07 trillion is OK under a Republican president, and bad when a Democrat is president.

See how that works?

The difference is the economy was abysmal under the Hussein. At least the money President Trump is spending is making America better.

 

[Ray From Cleveland]

Economist Dr. Walter E Williams wrote this:

I am going to run for Congress. My platform will be to not bring any money back to my state. How many of you would vote for me?

Because we are all expecting something from our federal government, it's impossible to cut much of anything without the risk of being voted out of office. So perhaps this is a citizen problem more than a party or government problem.

My solution is for everybody to pay for these goodies. I propose a consumption tax. Ten cents on every dollar spent goes to the deficit and debt. The tax will remain there until we owe 0 dollars to anybody.

If we did that, everybody would have a dog in the race. Currently, when Democrats talk about outrageous spending, they also propose taxing the rich so those goodies doesn't cost you a dime. In other words, Democrats will spend money on you and send the bill to somebody else.

If we all had to pay for this spending instead of just the wealthy, you'd see how fast the wasteful spending would stop.

 

[Natural Citizen]

Spending Our Way to a Fiscal Crisis - written by ron paul

Copyright © 2018 by RonPaul Institute. Permission to reprint in whole or in part is gladly granted, provided full credit and a live link are given.

According to financial writer Simon Black, the federal government is spending approximately 52,000 dollars per second. This, not last year’s tax cuts, is the reason why the national debt has reached a record 21 trillion dollars, which is more than America’s gross domestic product (GDP).

Another ominous sign is that this year both Social Security and Medicare will have to draw down on their reserve funds to be able to pay benefits. The Social Security and Medicare trust funds will both soon be bankrupt, putting additional strains on the federal budget and American taxpayers.

The excessive debt caused by excessive spending will inevitably cause a major economic crisis. Yet, with a few notable exceptions, there is little to no desire in Washington to cut spending. Instead, both parties are committed to increasing spending on warfare and welfare while ignoring the looming entitlements crisis.

Examples of fiscal irresponsibility on Capitol Hill are easy to find. For instance, even though the Untied Stares is currently spending more on its military than the combined budgets of the next seven highest spending countries, Congress recently increased military spending by 82 billion dollars. This brings the total the US spends on a futile effort to police and democratize the world to 716 billion dollars. The US House has also recently passed a farm bill that increases spending by more than 3 billion dollars over the next five years. This bill does not take a step toward ending subsidies to wealthy farmers and even continues providing farm subsidies to non-famers! Pressure on Congress to increase spending on farm subsidies is likely to increase as famers becomes collateral damage in President Trump’s trade war.

Many progressives are attacking the House farm bill because it makes some reforms to the “SNAP” (food stamp) program, even though the House version of bill increases the budget for food stamps by at least 1.7 billion dollars over the next five years!

When the economic crisis hits, there will be no choice but to cut spending and raise taxes. Of course, Congress is unlikely to raise taxes or cut benefits. Instead, it will rely on the Federal Reserve to do the dirty work via the inflation tax. The inflation tax is the worst type of tax because it is both hidden and regressive.

One of the worst features, if not the worst, of the tax reform plan is increasing the inflation tax by authorizing the use of “chained CPI.” Chained CPI hides inflation’s effects by claiming that rising prices do not harm Americans as long as they can still afford low-cost substitute goods to replace products they can no longer afford due to the Federal Reserve’s devaluation of the currency — as if people forced to buy hamburger instead of steak are not negatively impacted by inflation.

Increasing federal debt will also put pressure on the Federal Reserve to keep interest rates low to prevent federal interest payments on the debt from skyrocketing. Eventually, the Fed’s monetization of the debt will lead to hyperinflation and a rejection of the dollar’s world reserve currency status. The question is when, not whether, the welfare-warfare state and the fiat currency system will end. Hopefully, those who know the truth will succeed in growing the liberty movement so we can convince Congress to gradually unwind the welfare-warfare state, restore a true free market in money, and stop trying to run the world, run the economy, and run our lives.

 

[Missouri_Mike]

Trump will eliminate the $19 trillion national debt “over a period of eight years," or so he said. This may have come right after Trump promised that Mexico would build a wall for us and paying for it.

Incredibly, many believed him and voted for him. Of course, neither happened. Most of us knew that would be the case.

The reverse happened. Americans are paying for the wall, and Trump caused the National Debt to dramatically increase although there has been no wars, no recession, and there has been a booming economy.

On November 9, 2016, most of us knew that would happen, too.

CBS reports, "The U.S. government's budget deficit for the 2019 fiscal year surpassed the $1 trillion benchmark in August, the highest level in seven years."

The last time we hit this level was when President Obama was still battling the effects of the Great Recession, a global economic crisis he inherited from the previous Republican administration along with two of our longest wars.

CBS continued. "The government budget deficit climbed $169 billion to $1.07 trillion in the first 11 months of this budget year, as government spending this year outpaced tax collections in areas such as Social Security, Medicare, defense and interest payments on the national debt. With just one month left in the budget year, the deficit is up 18.8% over the year-ago period, according to the Treasury Department.

"The government has recorded trillion-dollar-plus deficits in only one other period — between 2009 through 2012, when federal spending shot up to cope with the worst financial crisis since the 1930s."

Thank you for your service, Mr. President. You're fired!

The minute he tries to reduce the spending you morons start shrieking how he’s shutting down the government and everyone is going to die.

This deficit could be taken care of. The dems will never let that happen.

 

[leftwinger]

We will see in the second four years. Hard to do anything living in a Den of snakes and vipers, DemRino. I would bet DJT has something up his sleve and Land O’ Goshen the DemRino they will screech and run to the MSM.....

 

[CrusaderFrank]

Republicans in Office simply means spend, spend, spend, spend, spend!!!

LOLOL!!!!

OMFG!!!!

Obama ran up more debt than anybody in human history!

 

[leftwinger]

Once again Dem took full control Congress 2007, debt $9T. By 2012 they got it up to $16T.and tried to blame GWB.

 

[lennypartiv]

We need more politicians like Trump who refuse to waste government money and who refuse to allow the debt situation to get any worse.

 

[Lakhota]

Our current national debt is $22.5 trillion.

U.S. National Debt Clock : Real Time

 

[Lakhota]

Trump will eliminate the $19 trillion national debt “over a period of eight years”

Federal budget: Trump adds $4 trillion to national debt

 

[MarcATL]

Republicans in Office simply means spend, spend, spend, spend, spend!!!

LOLOL!!!!

OMFG!!!!

Obama ran up more debt than anybody in human history!

Until Trump.

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