Trump Makes Dramatic Turnaround on Eliminating National Debt

[Straw Man]

I guess he stopped talking with himself for a moment so that someone could explain to him that his claim was impossible

Trump Makes Dramatic Turnaround on Eliminating National Debt
Sahil Kapur
April 22, 2016 — 10:45 AM PDT Updated on April 22, 2016 — 11:34 AM PDT


Donald Trump has had a 14-figure change of heart in three weeks.Last month, the Republican presidential front-runner made news when he told the Washington Post that he'd push to “get rid of the $19 trillion” national debt “fairly quickly,” estimating the effort could be completed “over a period of eight years.”  But in an interview with Fortune published April 21, Trump seemed to walk it back, rejecting the idea of eliminating the national debt within 10 years. “You could pay off a percentage of it“ in that time, Trump told the magazine, stressing that the “most important thing is to make sure the economy stays strong” and adding the debt could be paid off in “smaller chunks,” larger chunks and refinancing.


“His original claim that he could eliminate the debt in eight years was simply asinine.”
Loren Adler, Brookings Institution


“It depends on how aggressive you want to be. I'd rather not be so aggressive,” he said. “Don't forget: We have to rebuild the infrastructure of our country. We have to rebuild our military, which is being decimated by bad decisions. We have to do a lot of things. We have to reduce our debt, and the best thing we have going now is that interest rates are so low that lots of good things can be done that aren’t being done, amazingly.”

Trump's initial proposal to wipe out a $19 trillion national debt in two presidential terms struck fiscal policy experts and even outspoken deficit hawks as fanciful. The idea was also mathematically impossible to square with Trump's other promises not to cut Social Security or Medicare and to lower taxes by trillions of dollars. A Trump campaign spokesperson didn't immediately respond to a request to explain his shift. Trump has faced criticism during his presidential run for altering his stated policy positions, sometimes sharply and rapidly.
Experts said the New York billionaire's new position makes more sense.

“His original claim that he could eliminate the debt in eight years was simply asinine,” said Loren Adler, a fiscal policy expert who works at the nonpartisan Brookings Institution. He said that even setting aside Trump's other proposals that would raise the debt, “there’s no way any president could pay of the entire debt in eight years without tax increases and spending cuts way beyond the magnitude of anything this country has seen before,” and attempting to do so would “inevitably cause a significant recession.”

“It’s obviously hard to tell which position he actually holds, but the desire to start paying off the debt slowly is certainly more sensible, particularly given today’s low-interest environment,” Adler said. “What we actually need to do is simply start lowering our debt relative to the
size of our economy as we continue to recover.”

Jared Bernstein, a former economic adviser to Vice President Joe Biden, was surprised by Trump's shift but considered his call for infrastructure investments—a view supported by many Democrats—a step in the right direction. “That's really something,” Bernstein said in an e-mail. “I gotta say, he makes numerous good, important points: low interest rates means servicing the debt is less costly and that this would be a smart time to emphasize productivity enhancing investments over debt reduction. But just to keep it real, let’s not forget that due to the massive revenue losses in his tax plan, it would be impossible to make these investments.”

Douglas Holtz-Eakin, a former director of the Congressional Budget Office and economic policy adviser to Republican John McCain's 2008 presidential campaign, cast doubt on the viability of Trump's old and new positions. “Under current law, the debt will rise by 50 percent ($14 trillion to $21 trillion) by 2024,” he said in an e-mail. “He has proposed an enormous tax cut, promised to not touch either Social Security or Medicare, and is committed to bigger defense spending. His initial promise was preposterous and would not happen. This one is dubious as well.”

The federal government had $18.2 trillion debt outstanding at the end of the last fiscal year on Sept. 30, 2015, according to the Treasury Department. In order to even start to pay down the debt, the government would have to completely eliminate its annual budget deficit and run a surplus. Budget experts say it will be hard enough just reducing red ink. Getting rid of it entirely in any sort of reasonable time frame is considered virtually impossible. The Congressional Budget Office projects that the deficit will be $534 billion in the current fiscal year.
The U.S. last ran a surplus from 1998 through 2001, under President Bill Clinton, amid circumstances that are unlikely to be repeated. The U.S. benefited from a so-called peace dividend after the end of the Cold War, which held down military outlays. Revenues, meanwhile, were boosted by a stock market bubble that inflated capital gains. Prior to that, the U.S. had run deficits for 28 straight years.

Steve Bell, a former longtime Republican budget aide, said Trump's initial proposition to pay off the debt in eight years was "nonsensical" and based on an apparent misunderstanding of U.S. budget realities. "Now that he is backtracking substantially on that, and even a 10 year elimination," Bell said, "I gather that his advisers have brought him a bit more up to speed on the deficit/debt situation."
—With assistance from Rich Miller.

http://www.bloomberg.com/politics/articles/2016-04-22/trump-makes-dramatic-turnaround-on-eliminating-national-debt

[240 is Back]

“His original claim that he could eliminate the debt in eight years was simply asinine.”
Loren Adler, Brookings Institution

Yeah, this SHOULD have been bigger news.  Completely insane claim.  And he claimed there'd be a big recession FIRST, and he'd STILL be able to fix it in 8 years.

For a guy claiming to be the "business" candidate, he was incredibly ignorant to make this promise.  I'm embarrassed for any of his supporters that would defend him on this.  based completely in ignorance and trying to placate the masses.  What ELSE has he promised which is completely not based in reality?

[Straw Man]

“His original claim that he could eliminate the debt in eight years was simply asinine.”
Loren Adler, Brookings Institution

Yeah, this SHOULD have been bigger news.  Completely insane claim.  And he claimed there'd be a big recession FIRST, and he'd STILL be able to fix it in 8 years.

For a guy claiming to be the "business" candidate, he was incredibly ignorant to make this promise.  I'm embarrassed for any of his supporters that would defend him on this.  based completely in ignorance and trying to placate the masses.  What ELSE has he promised which is completely not based in reality?

as if any of his supporters would even have a fucking clue

[BayGBM]

as if any of his supporters would even have a fucking clue

x2 

[240 is Back]

as if any of his supporters would even have a fucking clue

They'd just find some way to excuse it.

1) Commie Bernie is ignorant on economics, too!
2) At least he isn't a liar like Hilary
3) Oh, they took what he said out of context!

If USA elects Trump, they deserve every fckup that he brings the place.  I give dos equis props, he said he's sitting out this election if Trump wins the nomination.  

[SOMEPARTS]

Yes, it was not realistic. We are in far too deep a hole to fix it in 8 years....or 80 years. We continue to borrow more and produce less. It's not going to be fixed by anything other than continued dollar devaluation and then a global currency reset.

Bay, let's not make fun of politicians and their lies and the people who would believe them. How many lies were told about ACA that people are now having hit their wallets? Politicians don't get elected by telling the truth and that applies to both sides.

[tonymctones]

^^^
Truth, the fact is the majority of people don't want to know the truth. They want to be given a boogeyman and told how they have been wronged. If they were interested in the truth they would quit voting for more benefits for themselves and start paying taxes bc they truth is that's what's going to have to happen before we get out of debt.

[240 is Back]

Where are the trump defenders to justify this totally ignorant statement?

[TheShape.]

Where are the trump defenders to justify this totally ignorant statement?

Hey I won't deny it, even I said it was insane when he said it and I'm the biggest supporter of him here. I think however he'll certainly make a dent in it though. Only time will tell.

[240 is Back]

Hey I won't deny it, even I said it was insane when he said it and I'm the biggest supporter of him here. I think however he'll certainly make a dent in it though. Only time will tell.

Props!

[Straw Man]

It would be fun to see him become POTUS and watch him flip flop on the wall

He'll never get Mexico to pay for it and he can't appropriate the money himself

I'd almost consider voting for him just to watch that unfold

[240 is Back]

It would be fun to see him become POTUS and watch him flip flop on the wall

He'll never get Mexico to pay for it and he can't appropriate the money himself

I'd almost consider voting for him just to watch that unfold

Cruz said today that Trump told the NYTimes in a recorded interview that he'll never really build a wall.

If true, that's huge.  Cruz demanding Trump release the tape.

[Agnostic007]

Cruz said today that Trump told the NYTimes in a recorded interview that he'll never really build a wall.

If true, that's huge.  Cruz demanding Trump release the tape.

that's funny that you think that would be huge. If a tape was produced showing Trump having sex with a donkey, that may.... may impact his supporters.. Trump saying he won't build a wall... not even a blip on the radar. He has flip flopped and lied so often, people come to expect it

[240 is Back]

that's funny that you think that would be huge. If a tape was produced showing Trump having sex with a donkey, that may.... may impact his supporters.. Trump saying he won't build a wall... not even a blip on the radar. He has flip flopped and lied so often, people come to expect it

I remember one person at one trump rally, he told the cameras "There's nothing Trump could say that'd change my mind about supporting him".   I posted about it immediately because I was shocked.

That says it all.  They like trump so much, that they're willing to pre-emptively forgive anything bad he may say. 

[Straw Man]

that's funny that you think that would be huge. If a tape was produced showing Trump having sex with a donkey, that may.... may impact his supporters.. Trump saying he won't build a wall... not even a blip on the radar. He has flip flopped and lied so often, people come to expect it

I think it would be a problem for him

His supporters think he "says what he means" and is a straight shooter (i.e. unlike lying politicians) and he flogs this wall nonsense at all his rallies

If he comes out and says, sorry I was just kidding I think it would be a problem for him.

[240 is Back]

I think it would be a problem for him
His supporters think he "says what he means" and is a straight shooter (i.e. unlike lying politicians) and he flogs this wall nonsense at all his rallies
If he comes out and says, sorry I was just kidding I think it would be a problem for him.

Many trump supporters double down on stupid. 

The more wrong they're proven, the louder they get, the more they try to shift things to another discusison, etc.   

Look at the way Trump just opens a new can of shit every time he steps in shit.  People don't have time to analyze what he said about POWs or Megyn Kelly's bleeding or supporting tranny bathrooms, because he just moves on to say something even crazier the next news cycle.

[Straw Man]

I remember one person at one trump rally, he told the cameras "There's nothing Trump could say that'd change my mind about supporting him".   I posted about it immediately because I was shocked.

That says it all.  They like trump so much, that they're willing to pre-emptively forgive anything bad he may say. 

forgive anything bad but that's possibly different than flip flopping on his major campaign promises

[Agnostic007]

I think it would be a problem for him

His supporters think he "says what he means" and is a straight shooter (i.e. unlike lying politicians) and he flogs this wall nonsense at all his rallies

If he comes out and says, sorry I was just kidding I think it would be a problem for him.

I respectfully disagree. His supporters are idiots. He "said what he meant" when he said he saw 1000's of muslims celebrating in the streets of New Jersey. He has "said what he meant" in so many instances that were complete bull that I doubt it would phase them. All he would have to say is "I looked at the numbers, I had smart people, people who know how to build and what it costs look at the numbers and I've also had people, people who deal with security look at the issue and I have a better way to make our country great than to build a wall that we all know they'll just go under. The wall, that's backwards thinking, America needs someone who makes great decisions, I make great decisions"

he's golden 

[240 is Back]

forgive anything bad but that's possibly different than flip flopping on his major campaign promises

I think 99% of them would STILL support Trump.

They'd justify it with "oh, he's just saying that to fool the libs" or "yeah, I kinda felt that way all along" or "well, he's the only one I trust" or "I like the rest of his ideas though..."

Reminds me of another idiot I saw interviewed before a primary in an early state, a young person who said "I just really hope I pick the winner!" as if it was a lottery and if you choose the one leading in the polls, you get to brag that you were there are the ground level, you picked a winner, and you can vicariously claim the win when this person saves America, etc.   She just wanted to pick the one who would win.  

[240 is Back]

I respectfully disagree. His supporters are idiots. He "said what he meant" when he said he saw 1000's of muslims celebrating in the streets of New Jersey. He has "said what he meant" in so many instances that were complete bull that I doubt it would phase them. All he would have to say is "I looked at the numbers, I had smart people, people who know how to build and what it costs look at the numbers and I've also had people, people who deal with security look at the issue and I have a better way to make our country great than to build a wall that we all know they'll just go under. The wall, that's backwards thinking, America needs someone who makes great decisions, I make great decisions"

he's golden 

Trump's "really bright people" blew it in a lot of states with the delegates.   

Now, either he's running an issues campaign to point out the hypocrisy of the delegate system of the GOP, OR his team is incompetent, and he's uber-incompetent for hiring them in the first place. 

[Straw Man]

I respectfully disagree. His supporters are idiots. He "said what he meant" when he said he saw 1000's of muslims celebrating in the streets of New Jersey. He has "said what he meant" in so many instances that were complete bull that I doubt it would phase them. All he would have to say is "I looked at the numbers, I had smart people, people who know how to build and what it costs look at the numbers and I've also had people, people who deal with security look at the issue and I have a better way to make our country great than to build a wall that we all know they'll just go under. The wall, that's backwards thinking, America needs someone who makes great decisions, I make great decisions"

he's golden 

I agree that his supporter are by and large total idiots and any crazy shit he says seems to only make them like him more.

I think he could fuck a goat on Madison Avenue and they would have no problem with it but I think that's completely different than pulling the rug out from under them on the "issues" that made them fall in love with him in the first place

just my opinion

[Agnostic007]

You could be right.. I dunno. I just have such contempt for the guy and those who think he's the right person for President that I find it hard to give them any credit

[240 is Back]

You could be right.. I dunno. I just have such contempt for the guy and those who think he's the right person for President that I find it hard to give them any credit

I don't mind Trump supporters.  If not him, they're gonna rally behind Palin.

My biggest beef is with the republicans who know he's a dangerous mess, BUT don't want to be quoted as having hated on him early in the primaries, in case he really wins.  So they waffle with "oh, I like some of his ideas" and "it's good to shake things up" without ever condemning him for being a rude, ignorant liberal all along.

They let him grow and fester, to the point where he's about to become the nominee.  It's on them.  They didn't criticize him and call him out for being a liberal.  They just played along, just in case, a Plan B.   Well, he's your baby now, republicans. 

[TheShape.]

It all comes out in the wash. Have we ever seen any political candidate in history attacked so viciously? This election is exposing the global elite and for once the conspiracies were right, it doesn't matter what party you vote for because they are all controlled by the same people but we're trying our best to stop it.

[240 is Back]

It all comes out in the wash. Have we ever seen any political candidate in history attacked so viciously? This election is exposing the global elite and for once the conspiracies were right, it doesn't matter what party you vote for because they are all controlled by the same people but we're trying our best to stop it.

Agreed, everyone has ganged up to attack Trump.

And yes, maybe it is a coordinated effort to protect their interests. 

I'm not all that convinced Trump would do that.  Look at his lifetime of work - paying off politicians on both sides.  He's just as crooked as the rest of them - he just admits it.   All those years, he didn't say "i'm crooked"... he pretended otherwise.   Now he's using it as a badge of honor, of course... but are we ready to just ignore the fact he was a bribing, liberal shill, getting rich while declaring corporate bankruptcies, for 51 years of his life... then VOILA, change of heart?

Trump was everything wrong with this nation for 51 years.   Paying off politicians, using govt laws to protect his biz failures.  Telling us liberal values were the way to go, his entire adult life.