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May 09 2016

Trump Proposes Printing Our Way Out of Debt

The good news is that Trump says he does not favor partially defaulting on the national debt after all. The bad news is that he also says this:

Weimar Republic, here we come.

Hot Air comments:

This is a guy, remember, who’s vowed to protect entitlements notwithstanding the dire risk that ballooning Medicare costs pose to the country’s creditworthiness. Presumably this is his fallback plan if/when America’s debt servicing grows so large that we simply can’t borrow enough to cover it anymore. I say, why wait until the crisis hits? Let’s print $19 trillion and pay off the whole thing now.

His point here to CNN is that his comments last week about the national debt were misunderstood. He wasn’t suggesting he’d stiff America’s creditors by offering partial repayment, he claims. He was suggesting buying back some of the country’s debt at a discount once interest rates rise and older treasuries with a lower yield lose value. Just one question: Where are we getting the cash to fund those repurchases? Trump nods at that problem here by noting that we could do it only “if we are liquid enough as a country,” but that’s the refinance equivalent of “Assume a can opener.” How will we be liquid enough? Buying back old bonds at a discount gets you nowhere if you need to borrow at those new higher interest rates to fund the purchases. It makes sense only if you’re running a budget surplus and have cash already on hand. Are we going to … print that cash? Because, given his economic plans — hands off entitlements, tax cuts for the rich (which are, however, newly negotiable), new infrastructure spending, and a short-term shock to the economy if he follows through on mass deportation [although this is improbable] — a budget surplus seems highly unlikely. President Trump would be many things but a deficit hawk is not one of them.

RedState's take:

It’s easy to write this stuff off as just another example of Trump not knowing what the hell he is talking about and/or talking out of both sides of his mouth, and that’s probably the case here. But you do have to ask, who would benefit from such a move? Who, other than a long time buddy of Donald Trump’s who has made a substantial portion of his money by betting against sovereign currency? None other than George Soros, of course.

Keep in mind, Trump has a lengthy history of using his connections with government to benefit himself and his friends. We shouldn’t rule out the possibility that his own pecuniary gain (or the pecuniary gain of his allies) is the reason Donald Trump does or suggests anything.

It might be worth noting that when he predictably abandoned his pledge to self-fund his campaign so that he could not be bought by fellow members of the donor class, he chose as his national finance chairman Steven Mnuchin, formerly of Soros Fund Management.

No one can say what Trump might do if he takes power. But we do know what the stock market will do every time President Trump opens his mouth.

trump-clown-money
This graphic may be in for heavy use.

On tips from Torcer.



  • Occam’s Stubble

    At least Obama has the good sense to read from a teleprompter instead of saying crazy things all the time.

    I wonder if the real estate magnate knows the the federal government owns 1/3 the surface area of the US and that if he sold it all, we could pay off a lot of that debt.

  • What, are you for Hillary?
    (repeat)

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  • concern00

    Ok, we get it, you’re anti-Trump. So let’s start being constructive. What exactly are you proposing to promote and further the conservative cause at the next election?

  • JeffersonSpinningInGrave

    The anguished cries of the environazis would be sweet indeed.

  • Torcer

    Well That’s Reassuring
    Here’s something that someone working for a presidential candidate who will be the nominee of one of our two major parties said aloud about that candidate, according to Politico:

    “He doesn’t want to waste time on policy and thinks it would make him less effective on the stump,” the Trump source said. “It won’t be until after he is elected but before he’s inaugurated that he will figure out exactly what he is going to do and who he is going to try to hire.”

    Read more at: http://www.nationalreview.com/corner/435170/trump-policy-yuval-levin

  • Torcer

    Since Donald isn’t a Conservative opposing him accomplishes that task quite nicely.

    Any other questions?

  • concern00

    Yes, but you fail to offer a solution. A Clinton presidency is not a solution.

  • Johnny Monday

    Maybe it is. If Drumpf becomes president, his collectivist policies will be cemented into what’s left of the Republican party. If he’s humiliated (as seems most likely) there’s hope the party can be rebuilt and that conservatives can have a voice in that.

    Hillary or Drumpf – really no difference, anyway.

  • Johnny Monday

    Drumpf would be worse than Obama. A few months ago it would have seemed impossible that any party could nominate anyone worse, and here the orange kool aid drinking Republicans do it.

  • Torcer

    But I didn’t get us into this mess, those who wanted to force him on the nation did.

    Do you agree with his desire to raise taxes?

  • Agrippa

    Well, nobody ever said that Trumpy was an economist. The babble just spewed forth damn sure proves that. “Print it, baby! We’ll figure out the hyper-inflation later! Go for it, dude! No consequences need be considered!”
    Such brilliance!

  • grocery sacker at the PW

    oboy..you gotta love “the donold” … If not for his inheritance he would be sackin’

    grocerys at the piggly wiggly

  • Skip

    You must have voted for Obama TWICE!

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  • Torcer

    You people should be proud!

    You were able to force Donald, the worst possible candidate on the GOP you could.

    And now you can blame someone else for YOUR actions – for leftists it’s just doesn’t’ get any better than that!

  • Skip

    If you do not vote or vote against Donald Trump is a vote for Hillary – is that what many of the morons who infect this site want? Apparently so, this becomes more ridiculous every day. It is time for anyone who actually thinks to stay away from here.

  • 762×51

    Spoken like true totalitarian Progressive fascist. You Trumpanzees are so transparent.

  • 762×51

    Says the Progressive fascist fucktard.

  • 762×51

    Next election? I wouldn’t bet that there will be one this coming November. There will be no others after this.

  • 762×51

    Soros Fund Management? That goes on my tRump Hoax List.

    Ohhh, Heidi Cruz worked at Goldman Sachs so Ted Cruz is evil, but someone who worked for former Nazi collaborator Geroge Soros is just fine with the Trumpettes.

    I suppose Franz Xaver Schwarz wasn’t available.

  • 762×51

    How about his desire to move us to a government run, single payer healthcare system? Or his willingness to fund Planned Abortionhood or his willingness to ban guns, deal with the mullahs, etc, etc.? (I know you already know all this, Torcer, just rubbing the Trumpanzee faces in it.)

    Conservatives have already offered a workable solutionTed Cruz, that tRump trolls have rejected. They made this bed, time to lie in it

  • 762×51

    They own it illegally is the only problem with that plan. The Constitution only authorizes the federal government to own D.C., ports and military forts. The rest has no Constitutional authority and under Marbury v. Madison, 5 US 137, (1803), is null and void.

  • daPenguin

    As I read earlier today from another blog. If shillary is elected she will be bad for America, but if trump is elected he will be bad for America and he will destroy the republican party,

  • Occam’s Stubble

    How many divisions does John Roberts have?

  • Occam’s Stubble

    Since neither Trump nor Hillary is a conservative there is not a way to further the conservative cause for the next two years.

  • Occam’s Stubble

    Too bad Trump’s not big on reading the rules about how things are supposed to work.

  • Torcer

    Exactly. It was their uniformed decision to support such a flawed candidate.

  • Tostig

    Yes, you can print money, Trump. It’s what Obama has been doing for 7+ years.

    I think all of this is moot, because Trump will get crushed in the general election. With 70-80 % disapproval in all the key demographics except grouchy old white guys like me, it’s almost a foregone conclusion.

    Hillary disgusts me, but I’ve made my peace with it. Honestly … honestly … I would rather have Hillary than Trump in the White House. I know, I know, it’s an historic election that will decide 192,518 Supreme Court Justices and the fate of Obamacare, but whatever … she has better judgment than him and they are about equally progressive.

    Not on board the Trump train. Not now, and not in November.

  • Normajspencer4

    “my room mate Lori Is getting paid on the internet 98$/hr”…..!ce302etwo days ago grey MacLaren P1 I bought after earning 18,512 DoIIars..it was my previous month’s payout..just a little over.17k DoIIars Last month..3-5 hours job a day…with weekly payouts..it’s realy the simplest. job I have ever Do.. I Joined This 7 months. ago. and now making over. hourly 87 DoIIars…Learn. More right Here !ce302e:➽:➽:➽➽➽➽ http://GlobalSuperJobsReportsEmploymentsUnityGetPayHourly$98…. .❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦:❖❖:❦❦::::::!ce302e….,….

  • concern00

    All of this anti-Trump shit is essentially a tantrum. You’ve signed onto the same progressive victim politics as your opponents. Congratulations. The GOP is essentially dead and buried. Conservative politics as you once knew it is going the same way, thanks to conservatives (like us) letting progressives win the culture wars. Get off your arses, get off your keyboards and do something tangible. And, of course, attack your allies, because that works a treat.

  • Momster

    Enjoy Hillary–don’t ever complain about her.

  • Momster

    So, therefore, if for nothing else I would vote for Trump.

  • Momster

    Not once Hillary is elected due to Nevertrumpers voting for her or not voting at all.

  • Momster

    Well, we know that Hill or Bern won’t raise taxes!

  • Momster

    He says crazy things WITH the teleprompter!

  • Wilberforce

    “For all the talk of insurgency we got the same thing we always get. This time it’s just Hillary and her donor. Last time it was Obama and the guy who gave him his worst idea before he had it. Before that it was the guy who sided with the liberal media over conservatives.

    Wash. Rinse. Repeat.”
    -Steve Deace

  • gary

    that 70 -80 % disapproval rating is total media bullshit meant to brainwash people into thinking he can’t win. I’m voting against Hillary.

  • JeffersonSpinningInGrave

    Yes, though as long as they sell it to American citizens, it could be far worse.

  • JeffersonSpinningInGrave

    A false choice between two statists who have a history for abusing public authority for personal gain is exactly what we were supposed to be fighting against. Usually, we get a choice between two sellers of influence. This time, we get a choice between a seller and a buyer. Three cheers. What an improvement.

  • JeffersonSpinningInGrave

    I fear it is time for the GOP to either be broken and remade or to step aside in favor of a true alternative choice.

  • JeffersonSpinningInGrave

    It’s a cult of personality, much like Obama’s following in many ways. I have a bad feeling about this, and it’s getting worse day by day.

  • JeffersonSpinningInGrave

    I know this isn’t directed at me…but:

    I voted for McCain. Wasn’t really a fan, but at least he is basically an American and an honorable man, whereas his opponent was neither.

    I voted for Romney. Wasn’t really a fan, but at least he is an Americans and an honorable man, whereas his opponent was neither.

    I’m pretty sure Trump is on the side of America. He has shown no indication yet that he is an honorable man.

    I still may vote for Trump. Who knows what might happen in the next six months that could change my mind. And Hilary is certainly neither an American nor an honorable woman.

    Anyway, you will find quite a few people who are not enthusiastic about Trump here, but I don’t think you will any Obama voters.

  • JeffersonSpinningInGrave

    That last is my biggest fear. Leftists have furthered their agenda in part by redefining terms. For example, they are fundamentally totalitarian but have trained everyone to call them “liberals.” They speak of “freedom,” “equality,” and “justice,” but pervert all of those concepts to promote an Orwellian-type dystopia.

    If Trump goes authoritarian, that will help them re-define constitutional conservatives as authoritarians. It will play into the hands of the leftists in the long run.

  • JeffersonSpinningInGrave

    Yes, the only question remaining is how best to effect damage control.

  • Occam’s Stubble

    At least Trump might have a Republican adviser here and there in his cabinet.

  • JeffersonSpinningInGrave

    It’s true. I need a drink.

  • TED

    OBAMA has already proven how well THAT WORKS! BIRDS OF A FEATHER!

  • TED

    IT HAS BECOME PERMANENT! http://i.imgur.com/Mzdx99l.jpg

  • TED
  • TED
  • TED
  • TED
  • TED

    SOUND FAMILIAR?! http://i.imgur.com/fOfsmdg.jpg MORE OBAMANISIM’S.

  • TED
  • TED
  • TED
  • TED
  • TED
  • TED
  • TED
  • TED

    http://i.imgur.com/0xzd52n.jpg SOUND FAMILIAR (again?!)?!!

  • TED
  • Torcer

    How do you reconcile Donald’s alleged principles with his repudiation with of one of the definitional tenets of Conservatism:

    Definition of CONSERVATISM

    1capitalized
    2 a : disposition in politics to preserve what is established
    b : a political philosophy based on tradition and social stability, stressing established institutions, and preferring gradual development to abrupt change; specifically : such a philosophy calling for lower taxes, limited government regulation of business and investing,a strong national defense, and individual financial responsibility for personal needs (as retirement income or health-care coverage)
    http://www.merriam-webster.com/dictionary/conservatism

  • Ed. G. Mann

    Then stay out of Fla, PA and OH because Trump is tied with Hillary in those battle ground states. You can join Stosh in not voting for Trump by not voting for Hillary, however that bit on idiocy works.

  • Ed. G. Mann

    Since it is apparent that not many of you ever saw the inside of an economics textbook, you might want to look up why the normal way things work is to have some inflation so that you pay off the debt with cheaper dollars.

    Obama screwed the Country by creating a very strong dollar, then getting the Fed and the CBO to jiggle the market basket to keep inflation at very close to zero. That makes paying off those T-bills that come due much more expensive and harder to refinance current debt except at higher rates.

    That means you get no return on your savings, bank accounts, SS or pensions. To get any decent return, you are forced into stocks or junk bonds. If you’re 80 or older that is bad news. So you sit and watch you savings dwindle away and your living style evaporate.

    Stop blaming Trump. blame Bush and Obama for this mess. Blame the Federal Reserve and the Wall Street bankers. Then there is all of Hillary’s cozy times with them.

    The ignorance here is astounding. That can be changed by learning. Stupidity is terminal and some of you have that.

  • 762×51

    Yep, so now it’s up to us to bail them out of a bad decision and all we have to do is violate our principles. Tell me that isn’t the Progressive mindset to a T.

    I’m not any more responsible for this debacle than I am for the imbeciles who elected Obama twice,

  • 762×51

    Trump will probably buy it for a dollar and acre so he can build a series of golf course resorts.

    At this point, there is no criminal act the government will not do.

  • 762×51

    tRump is only good when he can set the rules, bully lesser adversaries, or get government to bully them for him. Otherwise, he’s a sniveling coward, just like his winged monkey army of idiots.

  • 762×51

    Yeah, what is it with Progressives and the cult of personalty thing? Obama Progressives, tRump Progressives, they are all the same. I have never understood that.

    On the one hand you have these drooling idiots screeching about how its going to be our fault if their boy doesn’t win, Meanwhile, their master is running around saying crap like he doesn’t want our support.

    At that level of schizophrenia, I’m not any one will take them seriously by Nov. Yes, they will, no they won’t . . .

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  • THOUGHTCRIMINAL2084

    I don’t think it is 0’s creation of a strong dollar, rather his creation of so many worthless ones that have been dumped into those closest to the trough of largess and cronyism.

    While the privileged are throwing money around, the rest of us who aren’t being trickled down on are forced to pay ever more of these worthless dollars for bare necessities as inflation robs us by the minute.

    What has in fact happened is the ending of all forms of economics and the creation of a feudal state. The serfs have no choice but to become wards of the state in the end, while the royalty can be grotesque and vulgar with “their” money.

  • 762×51

    No, you need ammo.

  • 762×51

    So, we need to pass the bill before we can see what’s in it?

    I’ve already seen this movie.

  • 762×51

    tRump got to where he is with us and he has come out publicly and said he doesn’t want our support.

    Done deal.

  • Ed. G. Mann

    You are partially right about the strong dollar. Printing money works in two ways depending upon how it is disbursed.

    If the government floods the market to stimulate buying, it will inflate prices here, weakening the dollar overseas. Japan did this initially, then tried to boost the markets. A grand fail.

    We printed the money but used it to buy T-bills, the money from those was then pumped into the markets driving the indices higher. that pulled foreign money into our markets. that necessitates the exchange of currencies. As the demand for our securities became stronger it took more euros, yen, bolivars, rials, etc. to buy dollars making the dollar stronger.

    Since oil is priced in dollars, the price of oil dropped. You saw that. However the strong dollar makes it hard for us to sell our goods overseas so the balance of trade changes against us.

    Examples of this is Japan and China devaluing their currency helping them to sell good overseas.

    Some inflation is good since it allows for individuals and Governments to pay off debt with cheaper dollars. Rampant inflation destroys the economy; that is too many dollars chasing too few goods. prices go up faster than money is printed.

    The best solution to all this is to keep the Government out of the markets. They will self-adjust faster than the Government can react and the Government usually will overreact with a political bias.

    Socialism: The process of the Government stealing money from the people, taking it for themselves and distributing what they figure they don’t need.

    Capitalism: What people do when left alone.

  • Momster

    Enjoy Hillary. Don’t complain about anything she does.

  • THOUGHTCRIMINAL2084

    The best medicine will not benefit the entrenched interests who now consider it their endowment to continue to have the Fed printing press in their pocket. It is their privilege – the ultimate trickle down economics – they drink Dom Perignon directly from the Fed and piss worthless dollars on the rest of us. At the same time it becomes harder for us to come by those worthless dollar bills as the country is flooded with cheap immigrant labor, jobs are outsourced, taxes are made even more brutal – only to find real inflation has skyrocketed when we go to the supermarket.

  • Ed. G. Mann

    Yup! In order to keep the interest rates low the Poobahs in DC have been changing the items in the market basket, removing those that have risen in price and replaced them with more stable items.

    As a result, SS, disability checks and pensions show no inflationary pressure thus no increase YoY. Banks pay little to no interest on checking or savings accounts.

    But when you go to the supermarket, you get hit in the face with high prices followed by higher prices.

    If the interest rates rose as they should to compensate for the inflation, the money printing game DC is playing comes to a screeching halt. They can’t afford to make the payments and disburse the overblown faux entitlements they handed out o get elected.

    That which can’t continue, won’t.

  • 762×51

    I will complain about all that she does because I know it didn’t have to be that way. America had a clear choice and squandered it. Now, either a male NY Progressive will be the next President or a female NY Progressive will be the next President. Not my fault.

    In fact 58% of Republicans didn’t vote for Trump. The last several quadrennial election cycles have seen the vote totals between R and D at nearly 50/50 with D having a slight edge, obviously or we wouldn’t have Obama in office now. That means Trump has only 25% or less of the electorate and you cannot win a general election with that number of votes. Trump is a plurality candidate and a general election requires a majority candidate. McCain lost because Conservatives refused to vote for a Progressive. Romney lost because Conservatives refused to vote for a Progressive. Trump will loose because Conservatives refuse to vote for a Progressive. Maybe Republicans should try running a candidate that isn’t a Progressive like the Democrats, then they might us to vote for them..

    If Hitlery wins, you will have only yourself to blame, not Conservatives.

  • THOUGHTCRIMINAL2084
  • Ed. G. Mann

    I’m surprised he hasn’t met Brutus and a bunch of other Congress Critters in a hallway.

    When I first commented here I said all I wanted is the gutting of the GOP. I’ve been accused of being a troll, a Trumpster, a Prog, and God knows what else.

    I did say to their horror that Conservatives should have gotten out of the GOP long ago and formed their own Party. If that is heresy, so be it. where they are, they have no power. The GOP has suppressed them, ignores them EXCEPT TWO months before an election.

    I have found some people here who can reason and are open to discourse.

    Nice find on that link, I’ll make use of it on my blog.

  • THOUGHTCRIMINAL2084

    We will all meet Brutus and a few of his friends if we haven’t already. Achmeds and Pablos..

    I was a conservative, but lately realize there is nothing left to conserve nor anyone looking to conserve anything but themselves. The election is merely a shift change at the slaughterhouse for us. A glimmer of home, then back to business.

    I find myself not even going onto these sites anymore. The hysteria has gotten out of hand. There is no peaceable discussion, but accusation now. Oh that and I am getting banned. So many non-persons these days.

  • Ed. G. Mann

    Don’t agree here and the foul mouth crowd starts with every name that a fifth grader uses when they think they’re acting grown up. Like most idiots, they don’t want ideas, they want agreement. Redolent of Fascism.

  • THOUGHTCRIMINAL2084

    Ideas are dangerous and hurt people’s feelings.

    “Our” side is just as guilty. I get banned for pointing out the atrocities the police commit and the facts I personally witness about their corruption. Then- god forbid – you dare say something truthfully unflattering of certain non-moslems or non-christians, the group known to control the media – well then you are immediately banned. But refer to Blacks as the word whites are forbidden to use, spew senseless crude hate against those groups – you get a thumbs up.

    I am sitting this election out – my votes never mattered anyway. I support Trump as I would support a quick death as opposed to an agonizing one where you are mocked by a militant lesbian until you die.

    I have a feeling we will have the same hollowness in our stomachs as we got under Bush II and III – realizing we got a Yugo instead of a Pinto as soon as the Warranty expires. The choices were limited from the start, a lack of choice is really no choice at all – better to walk.

  • Ed. G. Mann

    Stalin had the same idea about ideas. He said some ting about guns are dangerous, we don’t let them have guns. Ideas are as dangerous, why would we let them have ideas.

    Sounds like Hillary doesn’t it? Or Torcer, 762×51 and a few other fools around here.

  • THOUGHTCRIMINAL2084

    Stalin or Hitler are the choices once again. Best to sit it out and watch it on TV.

    I already stopped reading about anything political. It is like watching the beginning of a porn movie – -we know the ending is a happy one and someone is getting fucked. In this case its us getting fucked.

    Unless you are doing the fucking, it isn’t much fun.

  • Ed. G. Mann

    There are a couple of idiots, totally mind blind, commenting here who I don’t mind poking with a sharp instrument. Considering that they still have a brain stem, they react, babbling dumbly which does provide some sport for a short time.

    Politics is a blood sport, one has to treat it as such.

    Incidentally, the difference between a sport and a game is quite separate.

    A game has strict rules, a field with defined boundaries, a set time and a set number of players. Think of football, tennis, golf, baseball etc.

    A sport may have a boundary, usually no or very few rules, involves blood letting and can end in death. Player numbers vary and can do so over time. Think of hunting, fishing, war, Irish sport of Hurling etc.

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