Trump Aide Claims $7 Trillion Budget Surplus After 10 Years

Discussion in 'Politics' started by InTheLight, May 11, 2016.

  1. InTheLight

    InTheLight
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    A top economic adviser to Republican presidential candidate Donald Trump said his policies would generate a surplus of as much as $7 trillion in a decade.

    In a sometimes bewildering explanation of Trump’s agenda, Sam Clovis said Wednesday that increased economic growth would cover the vast majority of the cost of his plans, including a tax reform plan projected to cost $10 trillion over 10 years.

    “Our proposals, what we think will happen, will lead us in fact to about a $4.5 to $7 trillion surplus at the end of 10 years, if all of our initiatives are put in place,” Clovis told a conference sponsored by the Peter G. Peterson Foundation. “Growth helps us a tremendous amount.”

    Clovis is national co-chair and chief policy adviser for Donald Trump's presidential campaign. He is also a professor of economics at Morningside College in Iowa and has failed in campaigns for the U.S. Senate and to be Iowa state treasurer.

    http://www.politico.com/story/2016/05/donald-trump-economic-adviser-tax-plan-sam-clovis-223086
     
  2. InTheLight

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    No comments on this guys ridiculous claims? It's absolutely unachievable. I suppose Trumpies just clap their hands and order another "Make America Great Again" hat.

    Here's some reality.

    The Congressional Budget Office estimates that deficits will total another $9.4 trillion during this period. So Trump is purporting to pay for his $10 trillion tax cut, plus eliminate that additional deficit, plus amass a surplus amounting to several trillion more? Outlandish is too kind a word for this.

    How outlandish? Former Congressional Budget Office director Douglas Holtz-Eakin, president of the conservative American Action Forum, estimated it would require a mere 10 percent annual growth for the decade.

    https://www.washingtonpost.com/blog...hpid=hp_no-name_opinion-card-e:homepage/story
     
  3. 777

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    You want comments? Well, at least the WaPo actually knew the difference between the debt and the deficit but Leftico didn't:

    Trump’s current tax reform plan is projected to add $10 trillion to the debt over the next decade, on top of the $9 trillion in deficits the government is already projected to run.

    But from the source:

    The plan would also be a large tax cut, which would increase the federal government’s deficit by over $10 trillion, both on a static and dynamic basis.

    http://taxfoundation.org/article/details-and-analysis-donald-trump-s-tax-plan

    Old, old left-wing trick:

    http://www.politifact.com/truth-o-meter/article/2014/feb/27/debt-vs-deficit-whats-difference/

    Now, about the WaPo writer, she is probably right that a GDP of 10%+ is waaaaaaaay too rosy and the tax cuts would have to be massive to get that number. But I'm still waiting on these people to dissect Hillary's economic plan - better yet, Bernie's.
     
  4. HankD

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    Of course it's achievable.

    We could sell the Hawaiian Island Chain to the highest bidder, probably Japan.

    HankD
     
  5. InTheLight

    InTheLight
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    Well, I like the way you think, but I don't see where Japan would get the money. And so far, I haven't seen the "sell Hawaii to Japan" in Trump's budgetary plan. So far.
     
  6. HankD

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    OK possibly China. He claims to have good relations with them.

    Another possibility is that Trump could issue an executive order to the US Treasury to print 26 trillion dollars and pay it off with 7 trillion to spare.

    HankD
     

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