Dec 5, 2018 <\/p>\n
Aides and advisers have tried convincing him how important managing the debt is, but those words have allegedly fallen on deaf ears. … Sources close to Trump say he has repeatedly shrugged it off, … because he won\u2019t be around to shoulder the blame when it becomes even more untenable.
\n … in early 2017 … “Yeah, but I won\u2019t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.<\/p>\n
The episode illustrates the extent of the president\u2019s ambivalence toward tackling an issue that has previously animated the Republican Party from the days of Ronald Reagan to the presidency of Barack Obama.<\/p>\n
Trump – in the past – has not much cared to even discuss the deficit.<\/p>\n
“He understands the messaging of it,” the former senior White House official said. “But he isn\u2019t a doctrinaire conservative who deeply cares about the national debt, especially not on his watch \u2026 It\u2019s not actually a top priority for him \u2026 He understands the political nature of the debt but it\u2019s clearly not, frankly, something he sees as crucial to his legacy.”<\/p>\n
David Stockman: Trump \u2018Playing With Fire\u2019; 40% S&P 500 Correction Coming <\/b>
\nNov 19, 2018 <\/p>\n
Ronald Reagan\u2019s former budget controller, David Stockman, is predicting a massive market collapse of about 40 percent is coming, and he also isn\u2019t too impressed with President Donald Trump\u2019s spending, his attacks on the Federal Reserve or his trade tactics.<\/p>\n
Stockman has long been an advocate of balanced budgets and cuts to government spending, and he\u2019s none too pleased with how the current administration has cut corporate tax rates and blown up the national debt, saying Trump is “playing with fire at the very top of an ageing expansion” in a recent interview with CNBC.<\/p>\n
He closed with his thoughts regarding the ongoing trade war with China, saying it isn\u2019t “remotely rational.” China accounts for about 30 percent goods imported to the U.S. As a result, tariffs will drive up prices and it “is going to hit the whole goods economy with inflation like you\u2019ve never seen before.”<\/p>\n
Soon We May Not be Able to Pay Interest on Debt – Interest Will Sink the Economy <\/b>
\nNov 13, 2018 <\/p>\n
… the now-rapidly growing deficit does matter \u2014 and the interest cost of the debt is why it matters. It\u2019s one thing to run in the red. It\u2019s something else entirely to lack the wherewithal to make interest payments, and that\u2019s where we may be heading.<\/p>\n
We can\u2019t know when the bite will come, but all it would take is for interest rates, driven by inflation and a stronger world economy, to climb toward levels seen just 10 years ago. The Fed has promised three more rate increases in just the next year. Indeed, the CBO is predicting even higher future rates.<\/p>\n
Wall Street Titans Sound the Alarm on Growing Debt Crisis <\/b>
\nNov 12, 2018<\/p>\n
The U.S. budget gap may surpass $1 trillion as soon as next year, which is already causing the Treasury Department to increase the size of some of its monthly auctions to record levels. That hasn\u2019t worked out so well: On Wednesday, a $19 billion sale of 30-year bonds drew the weakest demand since 2009,<\/p>\n
China is one of the U.S.\u2019s biggest lenders and it\u2019s never good to fight with your banker the way [Trump] is with China in the ongoing trade war.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dec 5, 2018 Aides and advisers have tried convincing him how important managing the debt is, but those words have allegedly fallen on deaf ears. … Sources close to Trump say he has repeatedly shrugged it off, … because he won\u2019t be around to shoulder the blame when it becomes even more untenable. … in early 2017 … “Yeah, but I won\u2019t be here,” the president bluntly said, according to. . . CONTINUE<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1526","post","type-post","status-publish","format-standard","hentry","category-general-corruption"],"_links":{"self":[{"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=\/wp\/v2\/posts\/1526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1526"}],"version-history":[{"count":0,"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=\/wp\/v2\/posts\/1526\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fuel-efficient-vehicles.org\/energy-news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}