In 2016 Donald Trump predicted a debt-free US treasury by 2024.
Transcript: Donald Trump interview with Bob Woodward and Robert Costa – The Washington Post
Instead of going from $19 trillion to zero, the National Debt has doubled to $38 trillion.
Disrupting the Borg is expensive and time consuming!
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In my opinion it’s certainly not Trump’s fault. balancing the Federal budget and even reducing the budget would be easy – just adopt the Tim Penny plan from 30 years ago, later adopted by Rand Paul. it’s practically painless. But it hasn’t happened because neither the Republicans nor the Democrats want to reduce spending. have a look at today’s budget impasse. the Democrats want to spend 1.5 trill….. the Republicans say no. the government shutdown will probably end with a compromise of… let’s spend $750 billion dollars more, that we don’t have…. then everybody will go home for the Thanksgiving break and be happy. But sadly the end result is more of our tax dollars are peed away.
Here is a short explanation of the Penny plan. ” The term “Tim Penny Plan” refers to a deficit reduction proposal named after Timothy Penny that has been adapted by others, most notably by Rand Paul, into various “Penny Plans”. The core concept is a gradual, across-the-board spending cut of one penny for every dollar of federal spending. The original idea was for Congress to decide which programs to cut to achieve this goal, while some modern versions, like Paul’s Six Penny Plan, propose specific annual percentage reductions over a set number of years to balance the budget. “. Tim Penny was no conservative …but…he was an honorable moderate congressman from southeast Minnesota a couple decades ago.
The last time a US President went debt-free was under Andrew Jackson,
by eliminating the precursor of the FED – the private 2nd Bank of the United States,primarily owned by City of London Bankers(just as the 1st flag of the USA being the flag of the East India Company may suggest),
in return he was almost assassinated.
“The Bank(proxy Biddle) is trying to kill me, but Ill kill it”
Because Jackson realised that neither he nor the USA won the 2nd war for independence in 1812 as the English simply installed the 2nd bank a short time later, he was specially motivated.
The interesting thing about the origins of the war:
Trying to force restrictions on USA – France trade
(same happened recently with Ukraine/ Russia and China/Taiwan trade.)
Using Americans to fight british wars(sounds so common proxy)
Financing natives to fight as “resistance” within the country (now it’s the NGO ‘s and NED doing these CiA jobs )
The debt has reached a level of doubling every 8 years.
Its a feature of the FED not a coincidence.
And most likely there won’t be another doubling possible without collapsing the system .
And Trump knows that – just as he knows that after the collapse debt will no longer matter, but the existing industrial base and overall productivity to recover, as things exists because they are produced, not because someone prints numbers on a piece of paper.
Therefore he is trying to rebuild energy supplies and productivity as long as he can get something in return for the dollar.
The irony is that the main driver of the debtgame will get out of this mess pretty fine as the USA have all the ressources.
Europe on the other hand will be screwed
and those countries that succeed to kick out or kill all the WEF/UNO/IMF stooges will take their land back from blackrock and turn towards Russia.
Neither political party has the spine nor the juevos to do what’s necessary to prevent our eventual collapse from this crushing debt. And it’s obvious to everyone that when we go, the rest of the world will go with us, and the world will be plunged into a profound depression. We can see it coming from miles away, yet no one is doing a damn thing to stop it.
The human race is obviously not nearly as intelligent as we give ourselves credit for.
thank you miss Nancy and Dems.
you showed us how it’s done.
multi trillion dollar bills, unbridled social programs,USAID , on and on
not humanly possible to cure this mess.
many nations in same boat.
hard to get leadership that looks out for future generations.
prayer
–
If you owe someone a million dollars, they own you.
But if you owe them 38 trillion dollars, you own THEM!
Besides, we basically owe the money to ourselves.
The debt has been supposedly about to destroy the country and collapse the economy since the 1970s.
The warnings and pearl clutching were no less dire and certain back then as now.
It seems horrific, for the debt to collapse the economy because of its very existence, a lot of people holding those bonds would have to take actions that they would know in advance will bankrupt themselves and collapse the economy.
Another part of it all is that the bonds that is what the debt consists of, is the largest financial market in the world.
The money parked there has literally no place else to go.
The various entities that hold those bonds are also obligated to keep the money invested. They literally are not allowed to sell their bonds and move into cash.
Ronald Reagan was running on the need to rein in the ballooning federal deficits all the way back before he even ran for President against Carter.
Once elected, what happened instead was tax rates were slashed gigantically, and defense and other spending increased by large percentages.
Why?
Well, for one thing, Presidents have a habit of talking about doing lots of stuff they have no power to control even if they get elected.
The President does not create or control spending.
All he can do is sign the bills or veto them.
The balance of power shifted rightward when Reagan was elected, but Democrats still had a very large majority in the House.
Reagan only ever had a thin majority in the Senate.
Plus, we had the Cold War, a hollowed-out military, crushing inflation, skyrocketing energy prices, and stagflation.
In any case, the dollar amounts are not a very good way to judge the relative size of the debts and deficit. A better way to look at it is as a percentage of GDP or some such metric.
One way to stop worrying is to realize, debt is just numbers on a ledger someplace.
In terms of wealth, we collectively own more stuff and live more prosperously than ever before, and by a lot.
I do not think anyone really knows of any specific reason the size of the debt is going to cause the collapse of anything, whatever that even means.
We could probably erase the entire debt by selling stuff, like the naming rights to every hill in the Rocky Mountains.
So all the mountains have big signs for Hyundai and Krispy Kreme etched into their faces. Kind of galling and ugly, but ultimately, not a ruinous disaster. About as ruinous as having I95 lined with Billboards the whole way between Florida and Virginny.
Let’s hope you’re right but I would like to point out some things have changed. United States debt was under 6 trillion 25 years ago. now it’s almost 40 trillion. 25 years ago the Dow was at about 12,000. it’s a multiple of four right now (probably should be a multiple of three) but the debt has grown much faster than wealth. the growth of government compared to the private sector is to the Moon pre Trump 2.0. it could be worse, they say one in three in Canada work for the government. before Trumps second election we were heading in the same direction. my home insurance has tripled in the last 6 years. in the past 25 years my house has NOT doubled in value but close. my income has not doubled. bottom line the debt seems to be growing much faster than everything else.
The DOW is not a very good measure of the appreciation of the stock market, as it is a very thin index, as well as being price weighted rather than market capitalization weighted.
Both the S&P 500 and the NASDAQ are larger and more widely held indices, and both of them are up by far more as a percentage, than the DOW.
There are many ways to measure overall wealth, and I am not sure looking at a single stock index tells us much about how much wealth exists and/or the relative prosperity of the population.
But as it relates to the topic at hand, US federal budget deficits and the accumulated debt, it is a fact that most of that debt is held by individuals and institutions within the US.
So it is both a debt, and an asset. A huge reservoir of assets really.
My insurance is way up too, and that is no small thing.
But I think there are two possibilities: The rate are fair based on risk, or the rates are a ripoff, based on risk.
If the second possibility is the case, then market forces should cause it to come down to be in balance with risk.
I do not believe in climate Armageddon, and I am not going to get all in a tizzy about economic Armageddon either.
Doom mongering is as old as civilization, and every once in a long while, we really do have catastrophes. But rarely are they the ones that have been predicted ahead of time.
Neither party wants to cut spending. All they want is more money coming into their districts and to get reelected. They do not care about inflation or the coming debt crisis that most assuredly is coming. I’m not sure half of them are smart enough to even understand it.
But all that extra fiat currency does not buy more stuff. Before the Euro in Spain most people were millionaires. The thing is that a little car would be around a million pesetas.
You inflate your fiat currency to not pay your debt.
Having the will to cut spending is no guarantee it will happen.
I think it is true that each party would like to cut spending, just in different parts of the budget.
Democrats want to cut defense spending, as a general and perennial rule.
Republicans are in general less unified regarding fiscal policy.
But the truth is, most spending, the vast majority nowadays, is not discretionary, but mandatory entitlement spending.
Add in interest on the debt and defense spending, and there is not very much to be cut given the priorities of the current majority.
The biggest impediment to cutting spending though, is the senate filibuster.
As long as that exists, there is little chance of making any progress towards fiscal sanity via spending cuts.
We could get to 60 republican senators, or we could take the nuclear options and end the filibuster.
Considering the Democrats will do just that if and when they are in control again (after all they already tried and only failed because of no votes by Manchin and Sinema), IMO Republicans should just rip off the band aid and end the damn filibuster already.
I suspect this is true, but did you think he could turn it around in the first year? Money has to be spent to build the dam to stop money from being spent. These people who call him a tyrant are gambling that they can sustain a war of resistance to his efforts to stabilize our nation and economy and after they force him to be a tyrant to accomplish his goals, they will ride on an up swell of mindless minions, rather than be rounded up and hung by thoughtful citizens who discern who the real problem is. I suspect that Trump supporters, those who believe in his vision, are more committed than
Antifa, who will shoot back for a day or two and then scatter, hoping to be welcomed as heros in the EU or Canada.
Donald Trump is wrong a lot, but he’s right some, which makes him better than any Democrat of recent history. He could be right about the debt, but is interfered with by collectivist judges and therefore is not allowed to exercise a free hand in solving the problems. These judges were not called out in the constitution, but were created by congress to help handle the legal issues caused by laws passed by congress. Which makes sense, but how can congress create a body that has rights that are superior to congress in controlling the executive branch? The ways that congress can control the executive branch are called out in the constitution; congress cannot circumvent its constitutional limitations by creating a new body which has superior power to control the president. I would think that the SCOTUS would rule such; it’s pretty fundamental, but they don’t. Why? Because these lower judges are all their buddies, and to rule to universally stop them from blocking the president would also reduce the SCOTUS’s power, in that they would no lower have to adjudicate lower court rulings regarding the presidential powers.
many of these judges seem to be confused. they think they were elected president of the United States. looks like a Democrat sweep tonight. what the heck happened in Virginia? they go from a successful Republican governor and then pick a white liberal woman over a black Conservative Republican. hhhmmm. sounds like racism to me. I’m surprised that the New Jersey polls were so far off… but maybe the results shouldn’t be that big a surprise. they say a lot of Republicans have left New Jersey and New York and moved to Florida. I see Dick Cheney has passed away. this may be a little callous but good riddance. his commercial calling Trump a threat to democracy was shameful.
The big question is: How many serious voters do we have vs how many dedicated leeches do they have? We have to instill the need to vote in every election as if our lives depended on it. We need to instill that we must campaign among our friends and neighbors BEFORE every election. We, each, need to start now identifying who we can mobilize or convert for the mid-terms. The GOP, at the national level, needs to set up online workshops, help centers, etc. to teach us how to do those things.
Then the government needs to, right now, start to ensure that the midterm elections are free from fraud:bounce the election machines (that is what they are election machines, machines that elect the right candidate), mail in ballots need to be asked for, not sent to a maybe still alive, maybe still in district person, etc.
Lastly, that census needs to happen and illegals stricken from the count for determining congressional seats. Newsom would lose 4-5 seats right there, and what a slap on the face, just after he redistricted (probably with lots of phantom voters).
my friends and neighbors aren’t the problem. the problem is America’s inner cities. look at Minneapolis last night. the Democrat who won got 50% of the vote… for mayor. the Somali who was left of the Democrat got something like 35% of the vote…. that’s 85% of the voters voted left. granted Minneapolis isn’t a hell hole yet but it is the epicenter of rampant repeat carjackers. now let’s look at Chicago. they can’t elect a sensible mayor to save their lives!!! how bad does it have to get in Chicago before they self-destruct? really really really really really really really bad. they’re losing big employers so they’re halfway there
Actually the Chicago mayor is getting unprecedent heat from the black community
and there are many people who are greatful that the streets have been made safer by Trump.
Yet,despite a significant shift,especially within the black voter base,
and chaos in those cities,
the votes all end up pro- hell?
(and the bizarre muslim-left scenario that is even more fake than AGW & the US pope combined).
That’s why I already asked about irregularities.
The Romanians voted 80% conservative just a few months ago(morons thought they’d be allowed to vote that way while building Natos biggest Euro-military-bass 🙂
Yet a few months later the left easily won the CiA reelection.
If they can pull such results so far away within such a short time, they can do it at the center of globalism and lefty lunatcy any second – including a new Obama in NY
(revealing text from the Washington Pest
“Mam Dani draws celebration of the GLOBAL left”
– there is no independent left left.
Just one as global was warming,covid,CBDC’s.
I wonder if there were any irregularities this time?
Not that NY needs them for a landslide.
But there was a significant shift last year towards the right,
and it ended with the left getting 90%+ of all votes –
with a win for a New York Saddick Khan.
(I’m pretty sure that no astroturfing was involved – father expert in postcolonial studies,mother hollywood darling,he expert in african studies with the exceptional family skill to avoid mixing with africans while living there)
And i still have to meet a muslim who does not dispise the left and LGBT – yet,as soon as they enter politics they can’t get enough of them.
I guess his role is,once again,to present a fake picture of islam …
and maybe to reeducate them.
And that he made already contacts to the european left instead of
the muslim organisations.
And he follows and pushes every single leftist agenda like a freaking mind control slave –
dude is so authentic.
But back to the voters – do these people instantly forget what has been going on all these years
as soon as they don’t feel the consequences of destructive left policies for a few months, or are the results just the start to prepare people for the outcome of the 2028 election.
We have a certain part of the population that will vote Democrat even if the Devil were to bring Hitler back from the dead, and appoint him the Democrat leader. Same on the other side. But the vast middle actually consider their options, so how does it jump to the side so easy every time it looks like the nationalists are winning? You can imagine that vote cheating is becoming as sophisticated as any other illegal thing out there. We need to get back to in person, paper ballot, nothing done by machines-literally everything done by hand, and then see how these elections swing. Hand voting can be cheated, one vote at a time. Machine voting can be cheated, how many do you need?-that many at a time.
I’ve been advocating for paper vote only for 15 years as it became obvious that digital votes, like climates science, end always in favor of globalists.
As the results that have been predetermined decades ago.( What did the agent say at 60 minutes “We write the scripts.We are the directors,the producers.The world is our stage ).
And someone who can manipulate an 80% conservative election in Romania within a few months into a leftwing win (Dan is the name of the Romanian Mandani sensation iirc),
can do it at home.
But the 90% are way too much by any metric,even with manipulation.
Even a worst case scenario should result in 20% conservative votes.
While the left will take a Hitler any time of day(the only way to implement their ideas is totalitarian )
there is nothing the left has done to justify these monopolistic numbers – especially not in the very heart of capitalism..
Or have we really reached a level where pulling a new Obama
out of the butt from time to time is enough to reach such bozarr results of hypocrisy and lunacy?
Pay down the debt just so it can be run up again under future poor leadership? Sounds like a never ending cycle.
Breaking news. 85-year-old Nancy Pelosi retires so she can run for president on a ticket with 85-year-old ex senator Patrick Leahy. they’re slogan is a fresh new start for America in 2028!!!! lol. (yes I’m joking).