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Trump says he doesn't care about predicted US national debt explosion because ‘I won't be here’

Discussion in 'The NF Café' started by makeoutparadise, Dec 7, 2018.

  1. makeoutparadise I will have my revenge

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    Trump says he doesn't care about predicted US national debt explosion because ‘I won't be here’ - The Independent
     
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  2. Darkmatter Lion's Sin of Pride

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    The U.S. defaulting would be catastrophic.
     
  3. RavenSupreme Well-Known Member

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    Time for the Euro to jump in as reserve currency
     
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  4. mr_shadow Minister of State Security Moderator

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    Nevermind that you're in a trade war with your biggest lender.
     
  5. Mider T Busting in and out of guts

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    He's just saying what alot of the older Congressmen are thinking.
     
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  6. Inuhanyou Wham

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    comic book villain material. but its basically what most of congress thinks as well, and has thought
     
  7. Ultra Instinct Senjutsu Mo-Kage, Mo-Problems

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    Why would he care?

    It seems to be pretty common knowledge Trump likely won't be around for a 2020 run, be it impeachment, or losing to the next Republican Representative who will likely have more than enough ammo to take Trump down pretty easily in a debate.
    So right now he is a kid bull in a glass candy shop, he will do whatever he wants, and know his base will support it regardless, and flock to the next fake christian who says they hate liberals for whatever uneducated or nonfactual reason.
    Plus, I'm sure he has made more than enough money off of the presidency, while being the current president.

    Thus is the sad future of America, Trump was literally the beginning of more-than-extreme polarization of politics, and thoughtless tribalism.

    History will not be kind to Trump, but likely not to any of the upcoming presidents either, due to how easily it is to research/learn/discover real and alternative facts & developments thanks to the internet.

    Granted, I know its Fox News, but the below article is worth a read and is that magic mix of scary and funny that you'd expect from them;
     
  8. makeoutparadise I will have my revenge

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    The mans gone bankrupt 7 times you think he cares?
     
  9. butcher50 Well-Known Member

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    Laugh and despise the guy all you want, this is just another instance of Trump straight up admitting without bullshit what every politician (regardless of sides) and corporate money suit is really thinking in the privacy of their minds while offering the people the official/PC version.

    Realistically (based on what you know) what the hell Trump can do about it ? and if he could, would the corporate suits accept it ? would for example: the military-industrial complex profiteers suddenly have a change of heart and say "gee we might need to start getting conservative with our budgets and spending ? take a long hard look at what we really need and what we really don't need ?" and in general would the people go along with it ? (what sacrifices are you willing to make to lighten the national debt ? nothing ? thought so...)
     
  10. makeoutparadise I will have my revenge

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    What can he do about it? He was the reason why our deficit got so big thanks to his tax cuts
    Also He’s suppose to care about the country and its future he took an oath he’s suppose to be looking out for us not acting and saying these selfish things He’s THE PRESIDENT OF THE UNITED STATES
    Also where does being PC factor into this?
    This has nothing to do with Social justice issues this is about our country going bankrupt. Something republicans made a big deal about when Obama was in office
     
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  11. makeoutparadise I will have my revenge

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    Are we suppose to applaud how indiffrent and candid Trump is about his corruption

    Well the Bank Robber says he doesnt care who’s money he stole becuase he’s leaving town.
    Look how non PC that is
     
  12. butcher50 Well-Known Member

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    "my fellow Americans: ask not what your country can do for you—ask what you can do for your country.”

    what sacrifices are you willing to make to lighten the national debt crisis ?
     
  13. mr_shadow Minister of State Security Moderator

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  14. makeoutparadise I will have my revenge

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    Certianly more then Trump, you know the man who can balance bugets and enact actual policy changes.
    The president isnt even doig his part or making his own sacrfices

    Thats like asking “what sacrafices are you willing to personally track down The leaders of ISIS?”
    ITS NOT MY JOB THATS WHAT THE PRESIDENT IS FOR.

    What is the fucking point of a president if you’re not going to hold him accountable to his duties?
     
  15. Catalyst75 Well-Known Member

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    Here's a quick question: what sacrifice would you make for the national debt?

    As you've already been told, the President hold responsibility and accountability for what he does in office. Dismissing it as not his problem because "he won't be here" is completely irresponsible for anyone in power to say.

    Furthermore:

    The remark once again showed he was lying about cutting the national debt of the US.
     
  16. makeoutparadise I will have my revenge

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    @butcher50 Bill Clinton left office with a buget surplus of over a billion dollars
    Thomas Jefferson shrunk the national debt when he was in office as well so dont come at me with “he’s just one man he cant do anything”

    Also it’s clear to me from your post that you have no Idea how government spending works.

    Like if you won the lottery of $50 billion and tried to make a personal sacrafice of putting all of it towards the national debt crisis. It wouldnt work becuase thats not how you pay for a national debt.
     
    Last edited: Dec 7, 2018
  17. Vandal Savage The Magician Supporting Staff

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    Trump is just following in the footsteps of previous GOP presidents who added to the debt while they were in office and they'll just let the guy who comes in after them tackle it. He knows his base won't go after him for it despite claiming to care about being fiscally conservative because they have been doing that for decades.
     
  18. Raiden

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    Sadly going to remain like this for a long time too. I don't see outcomes where the current tax policy can be reversed.
     
  19. ClandestineSchemer Well-Known Member

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  20. StarlightAshley Well-Known Member

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    I don't understand debt can someone good at economics explain to me why debt is a bad thing? What would Happen theoretically if we payed off All of our debt to other countries? Would that be a good thing for the US citizens?? :confused::confused:
     
  21. mr_shadow Minister of State Security Moderator

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    When you're in debt you have to make regular interest payments until the debt is repaid, usually expressed as a percentage of the money borrowed.

    E.g. if I lend you $100 at 1% annual interest, you have to pay me $1 every year until you've returned the original $100. The interest is not deducted from the original money (if it was, you'd call it repayment by installments), which means that if you postpone repayment for ten years you will have paid me a total $110: one dollar interest per year plus the original hundred dollars.

    The more money you borrow, the bigger the actual interest becomes. While 1% of $100 is obviously $1, the same 1% rate of $1000 is $10.

    This means that the more debt America takes on, the more of its tax revenue it has to devote to meeting interest payments.

    You can kind of kick the can down the road by borrowing money from a third party to pay the interest on the first loan. E.g. you take out a loan from Japan to pay your interest to China. But that only delays the fact that one day you're expected to meet everyone's interest payments AND everyone's original loans.

    If you were to say "I'm not paying!" (default), then nobody would ever trust you to repay their money again, so you'd have a much harder time getting new loans in the future.
     
  22. mr_shadow Minister of State Security Moderator

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    Interest of course is less of a problem if American GDP growth (tax revenue growth) is higher than the interest rate. You kind of "automatically" get new money to make the payment with. But shit is tougher if your economy grows slower than the interest rate you agreed on when taking out the loan, because then you need to re-allocate funds from existing programs to meet the payments.
     
  23. StarlightAshley Well-Known Member

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    Is the USA's GDP higher than the IR of the reallocated..funds!?! :faint:faint
     
  24. mr_shadow Minister of State Security Moderator

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    GDP growth changes every year, whereas the interest rate is always the rate agreed on at the start of the loan.

    I forgot another related variable:

    Since the original money due for repayment (the "principal") is a fixed amount of dollars, it is theoretically possible to "run out the clock" by postponing repayment for so long that inflation makes the principal a trivial amount. E.g. if Sweden lent America $1 million in 1918, that would have been a substantial amount at the time, but if you've waited all the way until now it's basically become pocket change and you can repay it in a heartbeat. You're not violating the agreement because we only said "a million dollars" regardless of what the purchasing power of that money is.

    So combining these two observations we can say that you're in the clear if:

    * The rate of GDP growth is higher than the interest rate.

    * The rate of inflation is higher than the interest rate.

    ---

    This is of course something that both the lender and borrower know, so when negotiating the terms of the loan (let's use this term instead of getting into the exact operations of international bond markets) they both want to set the interest rate based on their prediction of the future GDP growth rate and inflation rate.

    Your negotiating position depends on your Credit Rating, i.e. how likely a third party thinks it is that you will actually ever repay the principal. The less likely people think it is you will meet your obligations, the shittier a deal (higher interest rate) they will force you to accept.
     
  25. MrGayNight Well-Known Member

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    When americans love to shoot their president, it's sad that nobody is even attempting that right now against a president that literally doesn't care if he runs the country to the ground.
     
  26. Canute87 Nuke Imminent

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    and what they have done,

    Been watching a series called "hidden secrets of money"

    It's rather interesting to say the least.
     
  27. Darkmatter Lion's Sin of Pride

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    Technically, Debt isn't exactly a bad thing as long as it is well-managed.
    Let's say you want to start a small business: you need to have the funds to make sure it happens.
    There are five ways you can raise funds:
    1. Revenues from Transactions
    2. Selling your assets
    3. Selling stocks
    4. Asking for a Loan from a bank
    5. Donations (typically from people close to you)
    But since you're starting a business, 1 and 2 are out of the questions because you're not in operations and you don't even own anything (yet). 3 is more beneficial and common if you're going for a Corporation, plus you're giving up your right to govern how your business is operating, which leaves with 4 and 5.
    Without debt, you can't start up your business (not without sufficient funds).

    In the sense of Government, there's really two ways they can raise money: Taxes (most common method), and Bonds. With these two methods, they can keep Taxes low while selling Bonds to people with money in order to raise the remaining balance.
    But remember what I said: Debt isn't a bad thing as long as it is well-managed, so a mismanagement over Debt will force someone or an entity to declare a Default (the inability to pay debts), which would have a trickledown effect from potential Inflation (or even Hyperinflation), stagnating economy, and potentially higher interest rates for the Government.

    TL;DR: If you keep tabs over your debt and manage it, you should be fine.
     
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  28. Catalyst75 Well-Known Member

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    Be thankful that is not the case. What base he has would probably start riots, uprisings, while Trump's political supporters paint the shooter as part of a conspiracy by the Democrats and the following President (the Vice-President) would probably use it as an excuse to allow Republicans to seize even more power.
     
  29. Canute87 Nuke Imminent

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    Well you can also be lucky and manage to run into a mexican drug deal gone bad and obtain a shitload of money.
     
  30. Darkmatter Lion's Sin of Pride

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    You technically can, but then you'd need to find a way to cover up how you managed to obtain such a large amount of money and not get caught money laundering.
     
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