WOODWARD: Trump plan to eliminate federal debt, "print money"! COHN was stunned

[centerleftFL]

I was a fucking PSYCH major even I KNOW this leads to INFLATION! Did I think TRUMP was full of shit when he made the claim about how well and cleverly he used DEBT? Oh hell yes. I LAUGHED. Unless, of course, going bankrupt x 3 or 4 is 'managing debt' well. (Call me crazy, but when I think about managing debt it includes PAYING IT OFF too).

Imagine Cohn's surprise when TRUMP said this.

Trump's plan to help eliminate the federal debt was to print money: Woodward book

BY ARIS FOLLEY - 09/11/18 01:56 PM EDT 139

Trump's plan to help eliminate the federal debt was to print money: Woodward book

President Trump allegedly suggested to his chief economic adviser last year that the government should print more money to help eliminate federal debt, according to an excerpt from Bob Woodward’s new book.

The veteran Watergate journalist wrote in his new book — “Fear: Trump in the White House” — that Gary Cohn, the now-former top economic adviser, told Trump that the Federal Reserve was likely to increase rates during his first term in office, in an excerpt first reported by Business Insider.

“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.

Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.

Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”

Woodward wrote that Cohn then went on to explain how printing more money is thought to lead to inflation and could be catastrophic for the fiscal health of the U.S....


Trump's plan to help eliminate the federal debt was to print money: Woodward book

 

[Rambunctious]

LMAO why would anyone be stunned?....that's what the government has been doing for generations....printing money.....this whole book is BS liberal drivel....

 

[Rambunctious]

If you want to get pissed about printing money look into the Obama years...get educated....LMFAO....freaks will buy Woodward's book...but people with a thinking brain will not.....

 

[Rambunctious]

Every president since Reagan has called Woodward a liar and fabricator...but now he is some kind of super reporter?.... right.......LMAO

 

[Rambunctious]

I was a fucking PSYCH major even I KNOW this leads to INFLATION! Did I think TRUMP was full of shit when he made the claim about how well and cleverly he used DEBT? Oh hell yes. I LAUGHED. Unless, of course, going bankrupt x 3 or 4 is 'managing debt' well. (Call me crazy, but when I think about managing debt it includes PAYING IT OFF too).

I think it was Obama that tripled the national debt......now Trump is charged with fixing it and that is what he is doing despite BS books like Woodward's...

 

[EvilCat Breath]

Are you still believing what's in the Woodward book? Stop. It will drive you funny.

 

[SassyIrishLass]

President Trump allegedly suggested....

My understanding Woodward's book is full of that. Full of allegations, anonymous sources and allegedly.

For some veteran reporter and icon it seems shoddy

 

[AzogtheDefiler]

I keep saying this. Until BOTH parties address entitlements, we will never have a surplus.

 

[Rambunctious]

The left is living off of speculation and lies...how sad for them....unnamed source......is a bullshit source.....

 

[Rambunctious]

I keep saying this. Until BOTH parties address entitlements, we will never have a surplus.

With low unemployment and massive investment we will raise the kind of capital necessary to wipe out the deficit...it will not happen over night but it will happen as long as we keep the dems out of power.....

 

[Darkwind]

I was a fucking PSYCH major even I KNOW this leads to INFLATION! Did I think TRUMP was full of shit when he made the claim about how well and cleverly he used DEBT? Oh hell yes. I LAUGHED. Unless, of course, going bankrupt x 3 or 4 is 'managing debt' well. (Call me crazy, but when I think about managing debt it includes PAYING IT OFF too).

Imagine Cohn's surprise when TRUMP said this.

Trump's plan to help eliminate the federal debt was to print money: Woodward book

BY ARIS FOLLEY - 09/11/18 01:56 PM EDT 139

Trump's plan to help eliminate the federal debt was to print money: Woodward book

President Trump allegedly suggested to his chief economic adviser last year that the government should print more money to help eliminate federal debt, according to an excerpt from Bob Woodward’s new book.

The veteran Watergate journalist wrote in his new book — “Fear: Trump in the White House” — that Gary Cohn, the now-former top economic adviser, told Trump that the Federal Reserve was likely to increase rates during his first term in office, in an excerpt first reported by Business Insider.

“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.

Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.

Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”

Woodward wrote that Cohn then went on to explain how printing more money is thought to lead to inflation and could be catastrophic for the fiscal health of the U.S....


Trump's plan to help eliminate the federal debt was to print money: Woodward book

I wonder then if you understand at all, what the QE program was...We had 8 years of printing money just to keep the economy at 1%.


BTW...that is not an endorsement of that program or printing money to get out of debt.

 

[AzogtheDefiler]

I keep saying this. Until BOTH parties address entitlements, we will never have a surplus.

With low unemployment and massive investment we will raise the kind of capital necessary to wipe out the deficit...it will not happen over night but it will happen as long as we keep the dems out of power.....

No chance. Entitlements are 53% of mandatory expenses. I don't see us increasing revenues that significantly to cover the medical costs and retirement payments to the baby boomers. We need to act now. It sucks but it has to be done.

 

[Rambunctious]

No chance. Entitlements are 53% of mandatory expenses. I don't see us increasing revenues that significantly to cover the medical costs and retirement payments to the baby boomers. We need to act now. It sucks but it has to be done.

With more people working and paying taxes and getting off government assistance and more people investing and paying higher wages and taxes and with a level playing field in global finance the deficit will take care of itself...what would you prefer?.....cutting people off and watching them die in the streets?...lets be real...we didn't get here overnight and we won't get better overnight either....

 

[AzogtheDefiler]

No chance. Entitlements are 53% of mandatory expenses. I don't see us increasing revenues that significantly to cover the medical costs and retirement payments to the baby boomers. We need to act now. It sucks but it has to be done.

With more people working and paying taxes and getting off government assistance and more people investing and paying higher wages and taxes and with a level playing field in global finance the deficit will take care of itself...what would you prefer?.....cutting people off and watching them die in the streets?...lets be real...we didn't get here overnight and we won't get better overnight either....

I think you are optimistic. No. But we need to monitor how frequently people use doctors, monitor corruption (medicaid). Ever go to an ER? I've gone with my kids and its full of overweight old people. Give them vouchers. They should not be allowed to go daily. Give incentives for people to eat healthier so they are less sick when they get older --- diabetes, high cholesterol, high blood pressure, etc.

I would have higher reimbursements for initial diagnosis. Currently MDs take fewer medicare patients because they don't make as much money off them. If it is an initial treatment then pay the same as private insurance. Otherwise the old person waits and the condition worsens, they go to the ER and it costs us more. Lower drug costs. Get rid of the lobbyists. There are many ways without having people "die in the streets".

 

[theHawk]

In a way Woodward is a genius, he fabricated a book that is pure porn for the delirious left and he’s going to millions off them.

 

[CrusaderFrank]

Printing money > borrowing from the Fed

 

[McRocket]

LMAO why would anyone be stunned?....that's what the government has been doing for generations....printing money.....this whole book is BS liberal drivel....

Have you read the 'whole book'?

 

[Rambunctious]

Have you read the 'whole book'?

I don't read unsourced political hit jobs...and neither should you....

 

[Rambunctious]

No chance. Entitlements are 53% of mandatory expenses. I don't see us increasing revenues that significantly to cover the medical costs and retirement payments to the baby boomers. We need to act now. It sucks but it has to be done.

With more people working and paying taxes and getting off government assistance and more people investing and paying higher wages and taxes and with a level playing field in global finance the deficit will take care of itself...what would you prefer?.....cutting people off and watching them die in the streets?...lets be real...we didn't get here overnight and we won't get better overnight either....

I think you are optimistic. No. But we need to monitor how frequently people use doctors, monitor corruption (medicaid). Ever go to an ER? I've gone with my kids and its full of overweight old people. Give them vouchers. They should not be allowed to go daily. Give incentives for people to eat healthier so they are less sick when they get older --- diabetes, high cholesterol, high blood pressure, etc.

I would have higher reimbursements for initial diagnosis. Currently MDs take fewer medicare patients because they don't make as much money off them. If it is an initial treatment then pay the same as private insurance. Otherwise the old person waits and the condition worsens, they go to the ER and it costs us more. Lower drug costs. Get rid of the lobbyists. There are many ways without having people "die in the streets".

Of course fraud is an issue...finally we have a white house truly interested in ending it...that is why Trump is getting the push back from the establishment that he is getting...he threatens their cash cows....

 

[AzogtheDefiler]

No chance. Entitlements are 53% of mandatory expenses. I don't see us increasing revenues that significantly to cover the medical costs and retirement payments to the baby boomers. We need to act now. It sucks but it has to be done.

With more people working and paying taxes and getting off government assistance and more people investing and paying higher wages and taxes and with a level playing field in global finance the deficit will take care of itself...what would you prefer?.....cutting people off and watching them die in the streets?...lets be real...we didn't get here overnight and we won't get better overnight either....

I think you are optimistic. No. But we need to monitor how frequently people use doctors, monitor corruption (medicaid). Ever go to an ER? I've gone with my kids and its full of overweight old people. Give them vouchers. They should not be allowed to go daily. Give incentives for people to eat healthier so they are less sick when they get older --- diabetes, high cholesterol, high blood pressure, etc.

I would have higher reimbursements for initial diagnosis. Currently MDs take fewer medicare patients because they don't make as much money off them. If it is an initial treatment then pay the same as private insurance. Otherwise the old person waits and the condition worsens, they go to the ER and it costs us more. Lower drug costs. Get rid of the lobbyists. There are many ways without having people "die in the streets".

Of course fraud is an issue...finally we have a white house truly interested in ending it...that is why Trump is getting the push back from the establishment that he is getting...he threatens their cash cows....

If anyone will have the balls to cut entitlement it will be DJT.