D
dave p
Guest
Woodward book? Really are you that fucking ignorant?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