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Donald Trump Is Right On US Debt

serfserf Member Posts: 9,217 ✭✭✭✭
edited December 2016 in Politics
He said to renegotiate our debt by paying less than face value of our (debt) i.e.-US Treasuries! Or The Feds could let inflation eat up the value of the dollar and pay less because of increase costs of products and services!

Either way Trump is going to have helluva a ride when he gets in Office!


https://www.youtube.com/watch?v=ZNNDMCWHSQg
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Comments

  • Don McManusDon McManus Member Posts: 23,672 ✭✭✭✭
    edited November -1
    He can ask, but I will not accept less than face value.

    May have to sell at the current premium if he keeps up this type of talk.
    Freedom and a submissive populace cannot co-exist.

    Brad Steele
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  • spasmcreekspasmcreek Member Posts: 37,717 ✭✭✭
    edited November -1
    just hope they don't seize a % of your bank account, retirement accounts, or declare old money to be traded in for a discount number on new..already happened in other countries
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  • droptopdroptop Member Posts: 8,363 ✭✭
    edited November -1
    quote:Originally posted by spasmcreek
    just hope they don't seize a % of your bank account, retirement accounts, or declare old money to be traded in for a discount number on new..already happened in other countries


    Who is THEY ?
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  • serfserf Member Posts: 9,217 ✭✭✭✭
    edited November -1
    quote:Originally posted by droptop
    quote:Originally posted by spasmcreek
    just hope they don't seize a % of your bank account, retirement accounts, or declare old money to be traded in for a discount number on new..already happened in other countries


    Who is THEY ?


    The Federal Reserve with all political clowns we elected! That's who!
    When they do this be quite aware they will have total surveillance over all of us and you better take heed when crossing the line.

    Any talk of overthrowing the system with violence because it's corrupt, well it will be to late for you. They will have total control of everything that counts.
    serf
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  • serfserf Member Posts: 9,217 ✭✭✭✭
    edited November -1
    quote:Originally posted by Barzillia
    Great idea.....default on the debt.


    Now if they invent a free energy supply for us all there will be no need to default on the debt.[:D] Otherwise yes default is in the cards

    serf
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  • jerrywh818jerrywh818 Member Posts: 2,573 ✭✭✭✭✭
    edited November -1
    In my opinion Trump's plan is to expand the economy. That will expand the tax base. That along with streamlining government will eventually reduce the national debt. It would take 50 year to pay off the national debt. Inflation will eat the rest of it some. Inflation will steal your money to pay it. The Fed will create inflation as it always has.
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  • droptopdroptop Member Posts: 8,363 ✭✭
    edited November -1
    quote:Originally posted by jerrywh818
    In my opinion Trump's plan is to expand the economy. That will expand the tax base. That along with streamlining government will eventually reduce the national debt. It would take 50 year to pay off the national debt. Inflation will eat the rest of it some. Inflation will steal your money to pay it. The Fed will create inflation as it always has.


    There is another possibility and one Trump stated a while back.

    DO NOT HIRE NEW FEDERAL EMPLOYEES, including those that quit or retire,, except a few like Military, etc.

    Release companies from burdensome regulations, Fix the EPA / carbon taxes that are killing industry.

    OK, now the debt gets paid down a little.

    Remember when Trump said he's make a deal on taxes so companies can repatriate TRILLIONS OF DOLLARS held offshore ??? Money corporations hadn't brought back into the U.S. and essentially pay DOUBLE taxes.

    Money the DEMOCRAPS wanted to spend, spread around, waste, and steal. Trump had proposed to reduce taxes to 10% if companies invested the money in the United States when it was returned.

    Still can't pay off the debt quickly BUT FOR SURE, if Trump doesn't do both,, Cut TAXES and SPENDING he'll fail.

    Believe around 35% of the land of the U.S. is owned by the U.S. why it that ? Federal Parks, Indian land etc. don't account for much. Can't think of a good reason it couldn't be sold.

    To quickly reduce the debt, sell government land / assets and make it a law to use the money to DIRECTLY pay off the debt,, NO GENERAL FUND FUNNY BUSINESS. No need for a fire sale, just market the land. Check the map,, Looks like Nevada is 99% owned by the Federal Folks.

    Guess what? The land can be managed by those with an invested interest and get rid of the *** **** feds who screw with the ranchers.

    Amazing how much land is owned by the Federal Government.
    https://en.wikipedia.org/wiki/Federal_lands
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  • jerrywh818jerrywh818 Member Posts: 2,573 ✭✭✭✭✭
    edited November -1
    Here is another bonus Trump might bring us. If and when he unleashes all out energy production the price of oil pr, barrel will drop a lot more than it has. That will break Russia and * Iran. If your broke you can't fight a war very well.
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  • spasmcreekspasmcreek Member Posts: 37,717 ✭✭✭
    edited November -1
    i like the idea of reducing the debt by discounting the unpaid student loans with interest against social security, medicare, disability,or any other govt program that could be used by that person...the only way the amount of these loans now exceeds credit card debt is because the users deliberately ignored them with the idea they would be forgiven ... my banks NEVER let me pass on a loan....i busted my nuggets and paid ALL off early or on time..lived rather thin for some years ..and that's just the way it was
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  • bpostbpost Member Posts: 32,669 ✭✭✭✭
    edited November -1
    Here is my crystal ball for 2017-2020.
    1) SS recipients will be means tested and the monthly stipend adjusted rapidly down from there.

    2) Trump MAY halt payments to illegals.

    3) Obamacare will be adjusted not repealed, taxes (premiums to the gullible) will be increased. Medicare will get hammered too.

    4) Defense spending will rise, only it is not defense, it is offense. Brush wars across the Middle East need meat and bullets. Wars are EXPENSIVE we pay in blood and treasure for every home destroyed or city blasted.

    5) Deficit spending, read broke going broker, will continue unabated.
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