Trump vowed to eliminate debt in 8 years. He’s on track to leave it 50 percent higher

originally posted by: Dfairlite
What we need is 20 years of zero deficits. Then the debt will be manageable. Even with interest.

Eh? It would take much more than just no deficits, we'd actually have to make huge principle payments during the entire time.

originally posted by: wheresthebody
a reply to: Wardaddy454

Is it really like any other business loan though?

Your dad gives you some money to go buy everything you need to set up a lemonade stand..

The only difference is that the interest you're paying back comes in the form of taking care of him when he's old.

a reply to: Wardaddy454


Sure, it's exactly the same.

a reply to: tanstaafl

Nope, just have to make interest payments. GDP will be about 40-50 trillion in 20 years. A 23 trillion debt on 40 IA better than we've been in a looooong time.

originally posted by: Southern Guardian
a reply to: UKTruth

That’s a pretty deceptive post UK. The national debt clocked at $6 trillion when bush left and $12.8 trillion when Obama left. It’s a substantial increase but when we look at the numbers it pales in comparison to Trumps forecasted increase of $10+ trillion. Context is key here but I trust you already know that UK. I also trust you’re aware the GOP has held control of Congress 9 out of the last 10 years. You know? Congress? The national purse?

deceptive you say?

Keep that comedy gold flowing sport!

a reply to: Dfairlite

The US debt will be about 108% of GDP for 2019 it was 105% in 2017?
That is like having a take home income of $40,000 and over $40,000 in revolving debt.
When are they going to start reducing the percentage?
Granted credit card interest rates are about 6 times what the US government will have to pay but its still a lot of interest to defer unnecessarily.
The US economy is past full bloom so watering with QE isn't going to help that much.

You just wait til Democrats spend 100 trillion on green new deal. That's really increase national debt.

.

a reply to: Southern Guardian

He can still eliminate the debt in 8 years, if it is his plan to default on it.

Laugh if you like, but I think that could be the plan ….

Trump is a master of managing bankruptcy, with real world experience.

Actually, it could be the best thing for the US at this point anyway, since the debt is too big to ever be payed by now anyway.

originally posted by: wheresthebody
a reply to: Wardaddy454


Sure, it's exactly the same.

The point is that you are given money, right?

Having to pay it back or not is ancillary, as someone can hit it big and just pay back that initial loan in one fell swoop. Does it happen often? No. But it can.

Think about the fact that everyone's gripe in here was that he was given money. Sounds a lot like jealousy.