The Economist: Trump lacks understanding of how U.S. debt works
Donald Trump is struggling to clarify his recent statements about how, as president, he would reduce the U.S.’s debt without crippling the economy. In a May 5 interview with MSNBC, Trump said he would keep borrowing, but “if the economy crashed you could make a deal.” The New York real estate mogul and presumptive GOP nominee…
15 responses to The Economist: Trump lacks understanding of how U.S. debt works
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Budda May 10th, 2016 at 09:00
Just now some people are getting hip to the fact that Trump is not sharp enough to run the country. Where the hell have they been the last year?
Larry Schmitt May 10th, 2016 at 10:56
More importantly, where have the media been, who should have been making this clear to the entire country from the beginning?
fahvel May 10th, 2016 at 12:19
it seems us media is just having fun with rump and really doesn’t care about anything but ratings.
jybarz May 10th, 2016 at 09:25
Mr Bankrupt Billionaire is truly an expert on running down to the ground companies and stupidly thinks he can do the same with the country’s economy.
Never imagined anyone can be more or even equally as dumb as W.
Mensa Member May 10th, 2016 at 09:30
>> Never imagined anyone can be more or even equally as dumb as W.
Remember how GW Bush ran as “America’s first CEO president?”
He erased Clinton’s surplus, exploded the deficit, ballooned the debt and crashed global capitalism!
Anyone with even a passing understanding of government (or business!) knows that it doesn’t run like a corporation.
Mensa Member May 10th, 2016 at 09:25
Every time the GOP shuts down the government over the debt ceiling, they reveal their misunderstanding about government debt.
And these are the same people who create it!
Our two-party democracy is a failure when one party is completely dysfunctional.
Obewon May 10th, 2016 at 09:44
Trump “suggested he might negotiate with the U.S.’s creditors to accept less than full repayment on the $19 trillion it owes them.” The GOP doesn’t know anything accurate.
$13,827,049,077,929.95-“Debt Held by the Public”-05/06/2016.
$5,363,010,475,852.25-“Intragovernmental Holdings”-SS, Medicare pension Surpluses. http://treasurydirect.gov/NP/debt/current In 2010 U.S. Assets totaled $230 T before stockmarkets tripled. The U.S. government has borrowed on a mere 5% of U.S. assets.
Mike May 10th, 2016 at 10:07
“…he might negotiate with the U.S.’s creditors to accept less than full repayment on the $19 trillion it owes them…”
2/3’s of our debt is held by Social Security, Mutual Funds, the Fed, and government agencies …. he’s talking about short changing Americans to spite the Chinese….
SteveD May 10th, 2016 at 12:51
$ 53,360,591,000,000.00 ($53.36 TRILLION)
$ 52,321,149,000,000.00 ($52.32 TRILLION)
https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=16050600.txt
The above figures represent the total issues and redemptions of both marketable and non-marketable US Treasury Securities (also known as “federal debt”) since October 1, 2016, the beginning of fiscal 2016.
Also, please inform tRUMP that the FED sets interest rates, not the “market.” Increased interest rates are NOT a problem for our Monetarily Sovereign federal govt. In fact, increasing rates adds currency to the economy-which is a STIMULUS.
William May 10th, 2016 at 13:52
If only. https://www.facebook.com/l.php?u=https%3A%2F%2Flh3.googleusercontent.com%2F-oAvdfk2vVBg%2FVwcZoFoyNyI%2FAAAAAAABGCU%2F5GsV2iXEMCo-yX80WdsFETwPDG3EZ6glg%2Fw506-h361%2FTrump.gif&h=jAQHwtSAT&s=1
bpollen May 10th, 2016 at 16:25
The list of things he understands is MUCH shorter.
Granite Skyline May 10th, 2016 at 16:39
Trump only knows how to work is a can of hairspray — that is the extent of his knowledge.
Roctuna May 11th, 2016 at 09:30
Spray tan too
amersham46 May 10th, 2016 at 22:47
And most of the Congress does not knows how the economy works , and even fewer know how Congress should work
Mensa Member May 11th, 2016 at 00:09
>> The Economist: Trump lacks understanding of how U.S. debt works
Billionaires lack the understanding of pretty much everything related to the lives of working Americans.