PDA

View Full Version : Trump on debt and deficit



ccmanuals
10-12-2017, 10:01 AM
Apparently the golden one has no clue as to how gov't debt and deficit works. The following gibberish are direct quotes.
This should come as a surprise to no one.

What Trump said last night to Hannity.


“The country – we took it over and owed over $20 trillion. As you know the last eight years, they borrowed more than it did in the whole history of our country. So they borrowed more than $10 trillion, right? And yet, we picked up $5.2 trillion just in the stock market,” Trump told Sean Hannity. “So you could say, in one sense, we’re really increasing values. And maybe in a sense, we’re reducing debt. But we’re very honored by it.”

Yesterday afternoon in Harrisburg, during a speech on taxes, he pushed a related point:


“Very proudly, just in the stock market alone, we have increased our economic worth by $5.2 trillion, that’s right, since Election Day. $5.2 trillion. Think about that, that’s a quarter of the $20 trillion that we owe.”

Full story here,
http://www.msnbc.com/rachel-maddow-show/embarrassing-display-trump-flubs-test-how-money-works?cid=sm_fb_maddow

Old Dryfoot
10-12-2017, 10:28 AM
Translated: "I've made piles of money in the stock market since I oozed into office, so don't worry. . . I'm doing OK!"

Too Little Time
10-12-2017, 11:37 AM
I made an observation a couple years ago that financial wealth was increasing faster than national debt. From that I drew the conclusion that investing in the creation of financial wealth was better than paying down the debt. In essence a future tax on financial wealth to pay off the debt would be at a lower tax rate than a similar tax now.

While I still hold that belief, I would be happier to have a surplus rather than a deficit now. And I would rather have the tax revenu now. But that is not the best economic decision.

Jim Mahan
10-12-2017, 12:07 PM
Translated: "I've made piles of money in the stock market since I oozed into office, so don't worry. . . I'm doing OK!"

It's also about him taking the credit.
So you could say, in one sense, we’re [I'm] really increasing values. And maybe in a sense, we’re [I'm] reducing debt. But we’re [I'm] very honored by it.

He means, using the royal we, that j[I]ust him being president was enough to bring the value of the stock market up. He's saying that he is really increasing values. His brand is good for the country because every he goes money grows, and we are, he is, quite honored. Because in his mind, everybody making a dime in the market is getting a bigger bang for having the good sense to own stock while he is in the oval office.

Nicholas Scheuer
10-12-2017, 12:22 PM
So who still believes ANYTHING the Fake POTUS says?