POTUS on ballooning debt "I won't be here" when it blows up

[Pekelo]

But the left will spin it to their favor either way, without realizing who created it in the first place.

Let me guess, W?

 

[Tibster]

That's what you get with a debt based currency. If they wanted to pay all debt, there would be no money left and still have debt to pay. All news about government debt is meant to undermine the credibility of the current government. It hits the masses because everyone keep saying debt is bad.

The "our children will pay for our crazy spending" is bogus and another political tactic. Until we invent a time machine, no future resources have been consumed to produce something today. Whatever resource we had was sold for more to the government programs which is equivalent to a tax. Printing money doesn't magically deplete natural resources.

 

[d08]

That's the problem with putting old men in leadership who don't give a crap about the long-term.

 

[Frederick Foresight]

"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.
“I never once heard him talk about the debt,” one former senior White House official attested

That pretty much sums up his presidency.

 

[clacy]

"I won't be in office when it blows up" is what every politician EVER has said to themselves as they justify the nonsense out of Washington DC.

 

[Frederick Foresight]

"I won't be in office when it blows up" is what every politician EVER has said to themselves as they justify the nonsense out of Washington DC.

I think that's rather cynical. However, Trump has a long history of leaving stakeholders holding the bag. Why should his presidency be any different?

 

[clacy]

That's the problem with putting old men in leadership who don't give a crap about the long-term.

We get what we deserve in a representative democracy. Politicians running on fiscal responsibility can't win in this country.

Currently in this country there are two political camps:

A- Higher taxes/Higher spending on social programs (Dems/Socialists)
B- Higher spending and cross your fingers that we have higher growth (Republicans/Trump)

 

[Frederick Foresight]

We get what we deserve in a representative democracy. Politicians running on fiscal responsibility can't win in this country.

Currently in this country there are two political camps:

A- Higher taxes/Higher spending on social programs (Dems/Socialists)
B- Higher spending and cross your fingers that we have higher growth (Republicans/Trump)

At least one of the camps wants to be able to pay for its spending.

 

[clacy]

I think that's rather cynical. However, Trump has a history of leaving stakeholders holding the bag. Why should his presidency be any different?

LOL, fiscal non-responsibility is not a new issue in DC. That pretty much ended 50 years ago.

Also, only a small fraction of his RE deals and companies ended up not working out. Anyone that plays the game is going to have some losses. It's part of investing and business. And the people "left holding the bag" are generally other wealthy people who on aggregate win more than they lose.

 

[clacy]

At least one of the camps wants to be able to pay for its spending.

But they never do. They increase spending, and keep increasing taxes until they drive growth out. Look at Europe and South America as an example. That model doesn't work.

Trumpenomics is the best we got.