Bankruptcy . . . He's done it, maybe even good at it, the President of the United States. Walk away laughing.
I keep telling my friends who are short-sighted, near-term thinkers, no vision to the long-term, that the "Trump economy" will not last.
Trump supporters who point at the economy are like frogs that think the pot of water set to boil around them is just warm water. Soon they will be boiled until dead because they do not recognize the heat is increasing.
In 6 months or a year, the good times "Trump economy" will end, maybe sooner.
Trump does not, could not possibly know how his choices damage the United States economy.
Now we are seeing his foolish "business" choices like huge defense spending and tariffs, damage our economy. No one knows, as he would say, what will happen.
By Josh Dawsey and Damian Paletta November 25, 2018 at 11:05 AM
"Trump demands action to reduce deficit, pushes new deficit spending"
"President Trump is demanding top advisers craft a plan to reduce the country’s ballooning budget deficits, but the president has flummoxed his own aides by repeatedly seeking new spending while ruling out measures needed to address the country’s unbalanced budget."
Maybe Trump thinks he can "truthful hyperbole" his way . .
"When staffers sought to include an attack on Democrats’ Medicare-for-all proposals in Trump’s campaign speeches this fall, he initially blanched, two administration aides said. Medicare is popular, he said, and voters want it. Eventually, he agreed to the attack if he could say Democrats were going to take the entitlement away."
Of course the opposite is the truth, Democrats want health care for all, Medicare for every person in the USA!
Trump's lack of awareness of the impact of deficits is dangerous.
"In total, government debt has risen roughly $2 trillion since Trump took office, and the federal government now owes $21.7 trillion, according to the Treasury Department. The president’s agenda has contributed to that increase and is projected to continue to do so, both through the GOP tax cut and with bipartisan spending increases.
And Trump’s recent interest in the issue is at odds with his long-standing previous indifference, according to current and former aides.
Three former senior administration officials said the deficit issue was rarely brought up in Trump’s presence because he had no interest in discussing it."
Tweety can easily bankrupt the country so what will CONGRESS DO!
"Trump often uses “debt” — the total amount the government owes — to refer to the deficit, the annual gap between what the government takes in and what it spends.
Trump also is often not versed in the particulars of the federal budget."
Well, we'll see where a sociopath takes the country in the next year, maybe six months is all it will take to have the world downgrade the US for loans.
"As of now, the central plank of the White House’s new deficit-reduction push would be a proposal to cut congressionally approved spending by about 5 percent. Some programs would see a much smaller proposed reduction; Trump has said publicly the reduction for the Pentagon could be about 2 percent."
No one has the courage to take charge of deficit reduction. Too bad for America.
"It is unusual for budget deficits to expand the way they have during the Trump administration because they typically contract during periods of economic growth. During President Barack Obama’s last year in office, the deficit was $587 billion, a decrease from years when it had reached $1 trillion annually in the aftermath of the financial crisis.
Government spending is largely broken into two categories. There are programs that are automatically funded, such as Medicare and Social Security, and programs that must be funded by Congress each year, such as the military, housing, intelligence and transportation.
That category is known as discretionary spending, and that’s where Trump has told his Cabinet advisers to seek a 5 percent reduction. But cuts of that magnitude would probably reduce the deficit by about $70 billion, and it’s projected to reach $1 trillion next year, showing the magnitude of the tax cuts and other parts of the budget that have remained untouched."
The end is near for entitlements, and DoD will continue to get big budgets.
