Trump reverses on federal debt: 'This is the time to borrow'

[sinkspur]

http://www.washingtonexaminer.com/trump-reverses-on-federal-debt-this-is-the-time-to-borrow/article/2599103

Trump reverses on federal debt: 'This is the time to borrow'

By JOSEPH LAWLER (@JOSEPHLAWLER) • 8/11/16 8:47 AM

Donald Trump appeared to change his stance on the federal debt Thursday, saying that, with interest rates low, the U.S. should borrow money to spend on infrastructure rather than lowering the $14 trillion federal debt.

"This is the time to borrow," the Republican candidate said in an interview on CNBC Thursday morning.

"Normally, you would say you want to reduce your debt, and I would like to reduce debt too," Trump said, before explaining that "the problem is you have a military problem, you have an infrastructure problem — a tremendous infrastructure problem, and you have other problems. And also, the asset is your rates are so low."

Trump's campaign has previously stated implausibly ambitious goals for reducing or outright eliminating the federal debt. Trump has also, however, muddied the waters with ambiguous statements about refinancing or renegotiating the debt.

On Thursday, he struck a much less hawkish tone on federal deficits and spending, suggesting that the U.S. needed to spend more than $500 billion on new infrastructure.

Congressional Republicans have sought to move the government in the other direction, proposing budgets to balance the budget within 10 years and begin reducing the federal debt.

[XenaLee]

http://www.washingtonexaminer.com/trump-reverses-on-federal-debt-this-is-the-time-to-borrow/article/2599103

Trump reverses on federal debt: 'This is the time to borrow'

By JOSEPH LAWLER (@JOSEPHLAWLER) • 8/11/16 8:47 AM

Donald Trump appeared to change his stance on the federal debt Thursday, saying that, with interest rates low, the U.S. should borrow money to spend on infrastructure rather than lowering the $14 trillion federal debt.

"This is the time to borrow," the Republican candidate said in an interview on CNBC Thursday morning.

"Normally, you would say you want to reduce your debt, and I would like to reduce debt too," Trump said, before explaining that "the problem is you have a military problem, you have an infrastructure problem — a tremendous infrastructure problem, and you have other problems. And also, the asset is your rates are so low."

Trump's campaign has previously stated implausibly ambitious goals for reducing or outright eliminating the federal debt. Trump has also, however, muddied the waters with ambiguous statements about refinancing or renegotiating the debt.

On Thursday, he struck a much less hawkish tone on federal deficits and spending, suggesting that the U.S. needed to spend more than $500 billion on new infrastructure.

Congressional Republicans have sought to move the government in the other direction, proposing budgets to balance the budget within 10 years and begin reducing the federal debt.

Is anybody keeping track of or a list of all of the issues Trump has already back-tracked and reversed his stance on?  I've lost count on how many times this makes.

[sinkspur]

Two big spenders, two big government expansionists, two anti-free traders.

What a pathetic place we've come to in this country!!!

[Meshuge Mikey]

LAST WEEK  he was all for naps!!!     

[catfish1957]

God help us from both these liberals.   Time to increase gold position.

[XenaLee]

Two big spenders, two big government expansionists, two anti-free traders.

What a pathetic place we've come to in this country!!!

And Conservatives and Conservatism symbolically run out of town on a rail.  When the collapse comes....these idiots will still manage to blame Conservatives....anybody but themselves, of course.

Trump previously claimed that the economy seems to do better under Democrats.  But failed to understand or consider that the only reason the economy did well under Bill Clinton was because Conservative Republicans had control of both houses of Congress and enacted Conservative legislation, holding Clinton's feet to the fire on balancing the budget.  This time around, another Clinton will have free reign over Congress....since Trump is helping the Democrats to destroy the Conservative movement in DC.  It has all been 'pre-planned' by them.

[Night Hides Not]

http://www.washingtonexaminer.com/trump-reverses-on-federal-debt-this-is-the-time-to-borrow/article/2599103

Trump reverses on federal debt: 'This is the time to borrow'

By JOSEPH LAWLER (@JOSEPHLAWLER) • 8/11/16 8:47 AM

Donald Trump appeared to change his stance on the federal debt Thursday, saying that, with interest rates low, the U.S. should borrow money to spend on infrastructure rather than lowering the $14 trillion federal debt.

"This is the time to borrow," the Republican candidate said in an interview on CNBC Thursday morning.

"Normally, you would say you want to reduce your debt, and I would like to reduce debt too," Trump said, before explaining that "the problem is you have a military problem, you have an infrastructure problem — a tremendous infrastructure problem, and you have other problems. And also, the asset is your rates are so low."

Trump's campaign has previously stated implausibly ambitious goals for reducing or outright eliminating the federal debt. Trump has also, however, muddied the waters with ambiguous statements about refinancing or renegotiating the debt.

On Thursday, he struck a much less hawkish tone on federal deficits and spending, suggesting that the U.S. needed to spend more than $500 billion on new infrastructure.

Congressional Republicans have sought to move the government in the other direction, proposing budgets to balance the budget within 10 years and begin reducing the federal debt.

[libertybele]

Is anybody keeping track of or a list of all of the issues Trump has already back-tracked and reversed his stance on?  I've lost count on how many times this makes.

No need to actually keep track.  He has reversed course on ALL issues.

[Idaho_Cowboy]

Oh for the love of John Maynard Keynes how stupid is this guy?
Someone correct me if I'm wrong Trump has not gone full liberal on the economy. Minimum wage, taxes, tariffs (a tax), and now debt. Same old Democrat excuse infrastructure I'm surprised he didn't say 'it's for the children'.

[Night Hides Not]

No need to actually keep track.  He has reversed course on ALL issues.

We just simply do not understand the rules of six dimensional chess. 

[guitar4jesus]

[Meshuge Mikey]

I'm surprised he didn't say 'it's for the children'.

he will.... its only a matter of time....

[guitar4jesus]

[XenaLee]

Oh for the love of John Maynard Keynes how stupid is this guy?
Someone correct me if I'm wrong Trump has not gone full liberal on the economy. Minimum wage, taxes, tariffs (a tax), and now debt. Same old Democrat excuse infrastructure I'm surprised he didn't say 'it's for the children'.

Oh, I'm sure that's coming up next.  He will suddenly decide that it really does 'take a village'.

[r9etb]

Two big spenders, two big government expansionists, two anti-free traders.

This part actually makes a little sense, though:

"Normally, you would say you want to reduce your debt, and I would like to reduce debt too," Trump said, before explaining that "the problem is you have a military problem, you have an infrastructure problem — a tremendous infrastructure problem, and you have other problems..."

The problem is here:

And also, the asset is your rates are so low.

This statement is not unreasonable for a business, which actually has to pay back its loans.  (OTOH, Trump's history of bankruptcies....)

But it's a lot less reasonable for a government that's already borrowing to make payments on its outstanding debt.  A huge spate of deficit spending now brings up the very real possibility that it will have to be refinanced at higher rates down the line. 

This isn't new with Trump, of course, and perhaps he actually understands a bit more about it than Obama ever will.  Nevertheless, as a justification for a huge flip-flop like this one, it's quite weak.

[ABX]

What he really meant to say was.......

[Night Hides Not]

Oh for the love of John Maynard Keynes how stupid is this guy?
Someone correct me if I'm wrong Trump has not gone full liberal on the economy. Minimum wage, taxes, tariffs (a tax), and now debt. Same old Democrat excuse infrastructure I'm surprised he didn't say 'it's for the children'.

My late great macroeconomics professor (and faculty advisor my first two years in college), Dr. Erwin Graue, must be spinning in his grave.

BTW, he was a professor emeritus at the University of Idaho. When I met him for the first time, he was a sprightly 77. His macro course was brutal. There was no place to hide, with only five students in the class. Wrong answers were harshly dealt with.  lol

He constantly exhorted me to change my major from management to public accounting, which I did near the end of my sophomore year. That decision forced me into taking 21 hours a semester during 3 of my last four semesters at Gonzaga, the other was a mere 18. I'm still trying to figure out how I did it, while making the Dean's List, and balancing my ROTC commitments, and patronage of the Bulldog Tavern.

Getting way off topic, Gonzaga prepared me well for living in Germany after college. My neighbors were pleasantly surprised that I was one of few Americans they couldn't drink under the table.

[Idiot]

http://www.washingtonexaminer.com/trump-reverses-on-federal-debt-this-is-the-time-to-borrow/article/2599103

Trump reverses on federal debt: 'This is the time to borrow'

By JOSEPH LAWLER (@JOSEPHLAWLER) • 8/11/16 8:47 AM

Donald Trump appeared to change his stance on the federal debt Thursday, saying that, with interest rates low, the U.S. should borrow money to spend on infrastructure rather than lowering the $14 trillion federal debt.

"This is the time to borrow," the Republican candidate said in an interview on CNBC Thursday morning.

"Normally, you would say you want to reduce your debt, and I would like to reduce debt too," Trump said, before explaining that "the problem is you have a military problem, you have an infrastructure problem — a tremendous infrastructure problem, and you have other problems. And also, the asset is your rates are so low."

Trump's campaign has previously stated implausibly ambitious goals for reducing or outright eliminating the federal debt. Trump has also, however, muddied the waters with ambiguous statements about refinancing or renegotiating the debt.

On Thursday, he struck a much less hawkish tone on federal deficits and spending, suggesting that the U.S. needed to spend more than $500 billion on new infrastructure.

Congressional Republicans have sought to move the government in the other direction, proposing budgets to balance the budget within 10 years and begin reducing the federal debt.

You have to friggen be kidding me...........

[Idiot]

Becoming more true by the day.

[Idaho_Cowboy]

My late great macroeconomics professor (and faculty advisor my first two years in college), Dr. Erwin Graue, must be spinning in his grave.

BTW, he was a professor emeritus at the University of Idaho. When I met him for the first time, he was a sprightly 77. His macro course was brutal. There was no place to hide, with only five students in the class. Wrong answers were harshly dealt with.  lol

He constantly exhorted me to change my major from management to public accounting, which I did near the end of my sophomore year. That decision forced me into taking 21 hours a semester during 3 of my last four semesters at Gonzaga, the other was a mere 18. I'm still trying to figure out how I did it, while making the Dean's List, and balancing my ROTC commitments, and patronage of the Bulldog Tavern.

Getting way off topic, Gonzaga prepared me well for living in Germany after college. My neighbors were pleasantly surprised that I was one of few Americans they couldn't drink under the table.

I'm sure at least one of my old professors from Boise State are shaking their heads too. I must say your story is rather funny, you must have been close to super-human to pull it off. 

[r9etb]

you must have been close to super-human to pull it off. 

Are you suggesting that he left out the part about working his way through school as a stripper?

[Idiot]

Are you suggesting that he left out the part about working his way through school as a stripper?

Tough crowd...lol.   

[Bunny Watson]

There must be a pony in here somewhere!

[Just_Victor]

Oh for the love of John Maynard Keynes how stupid is this guy?
Someone correct me if I'm wrong Trump has not gone full liberal on the economy. Minimum wage, taxes, tariffs (a tax), and now debt. Same old Democrat excuse infrastructure I'm surprised he didn't say 'it's for the children'.

Ivanka is still working on the "for the children," angle.

[Suppressed]

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