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Trump: "Now is the Time to Borrow and Increase Debt"

Discussion in 'Political Debate & Discussion' started by InTheLight, Aug 11, 2016.

  1. InTheLight

    InTheLight Well-Known Member

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    Trump said on CNBC's Squawk Box today that the time to borrow is now because interest rates are so low. We have infrastructure problems, we have military problems, Trump said, that need to be fixed by borrowing money against the United States. The time to do that is now, because interest rates are so low, he reasoned.

    The guy is confusing strategies for refinancing a mortgage or a business loan with the ongoing crushing debt of the United States. Simply breathtaking. Big government. Not a conservative. Sad.

    Trump Borrow.JPG
     
  2. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member

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    Just print MO Money!
     
  3. carpro

    carpro Well-Known Member

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    Nope. Not a cons
    We've known that for a long time. But he's not Hillary either.

    That's a HUGE plus.
     
  4. Smyth

    Smyth Active Member

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    Republicans in general love borrowing money. Dick Cheney said deficits don't matter. All the deluded advocates of the Iraq invasion were happy to have borrowed money pay for the war. McCain dramatically suspended his campaign to push through congress a Trillion dollars in deficit pork spending. Ronald Reagan is infamous for yuge borrowing under his administration.

    No, deficit spending is not conservative.

    Trump might be confused. It's one thing for a business to borrow money to expand to raise revenues or for a homeowner to refinance to lower payments. But, to borrow money to fix bridges is absurd, especially when the debt is already so large. If a bridge really needs to be fixed, pay for it out of real revenues, and cut unnecessary spending in general.

    Trump probably knows better, but promising to spend money can get votes and borrowing money leaves a mess for someone later to pay for.

    Trump is not a conservative, this we know. But, he's far, far better than Hillary. And, Trump is no worse than other Republicans RATs would have voted for. Trump might even be better.
     
  5. StefanM

    StefanM Well-Known Member

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    I think you meant "YUGE"!!
     
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  6. Lewis

    Lewis Active Member

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    This is possibly a good idea. As long as it doesn't turn out like Obama's stimulus and all those supposed "shovel-ready jobs" he touted.

    Much of Obama's stimulus money went to extending unemployment benefits from 26 weeks to 99 weeks. The eligibility for food stamps was changed so that many more people qualified.

    The greatest part of the money went to state and local governments who used it to avoid laying off teachers and firemen. Economist Wm Duper stated that 75 percent of all jobs "created or saved" (Obama terminology) were government jobs.

    On the other hand, some of the stimulus money was effectively spent, according to this article in Fiscal Times:

    "There are some very big projects we’ll be able to look back on 75 years from now and say, that was because of the stimulus. The Fourth Bore, the Caldecott Tunnel in Oakland in its suburbs, the Cleveland Interbelt Bridge got $79 million to replace this 50-year-old bridge in downtown Cleveland, and South Dakota is building a tribal school for the Sioux tribe’s Crow Creek reservation. In New York, Moynihan Station, the Second Avenue subway, Staten Island’s ferry terminal, the Fulton Street transit center – there are big projects that got a significant chunk of money and now can go forward in a bigger way."

     
  7. InTheLight

    InTheLight Well-Known Member

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    <Sigh> I'm going to call you on this on. Please show us all about this trillion dollar spending bill that McCain pushed through.

    I'm shocked that we agree on something!

    Yep. Trump's modus operandi is to borrow money then not pay for it. We agree again. We're on a roll!

    Yes! Yes! Bravo!

    Ohhh...and you were doing so well for a while.
     
  8. InTheLight

    InTheLight Well-Known Member

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    The only thing the federal government has to do with our infrastructure is interstate highways, and possibly some railroads. There is no role for the federal government to play in fixing bridges on county and state roads. No role to fix airports.

    Besides all of this, there is no way, shape, reason, or form that we should be taking on another $1 trillion dollars in debt! None!
     
  9. Smyth

    Smyth Active Member

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    Don't you ever get of your dumb challenges against what I post? I didn't say McCain succeeded on getting TARP passed the first time. And, rounded off to the nearest Trillion, it was a trillion, and when it did eventually pass, it was more than a Trillion. When we disagree, you are always wrong.
     
  10. InTheLight

    InTheLight Well-Known Member

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    TARP was not a spending program. TARP was not for $1 Trillion, it was for $700 Billion when it passed in October 2008. The amount was subsequently reduced to $475 billion by the Dodd-Frank bill. When TARP was concluded not only was all the money paid back but the federal government showed a profit of $15 billion.

    These are easily researched facts, you ought to try it some time.
     
  11. carpro

    carpro Well-Known Member

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    He's hardly the first pol from either party to state that , if you're going to have deficit spending (and when was the last time anything but a budget deficit was proposed?), when the interest rates are low is the time to do it. A true statement.

    Of course democrats don't do budgets at all anymore. It doesn't matter that the law requires it.
     
  12. Smyth

    Smyth Active Member

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    McCain dramatically suspended his campaign to get the $700 TARP passed. It didn't pass the first time. When it did pass, it was accompanied by other measures arsing TARP and related funds to over a trillion dollars. And, it was all deficit spending in the first place!

    Thankfully Dodd-Frank reined in some of the insanity, and cut the losses to Americans. But, the taxpayers didn't make a $15 billion profit. The taxpayers paid more than that for the interest (bond rates) to finances the deficit spending. Also, a lot of that payback was done with other federal funds, of which hasn't been repaid and taxpayers are still paying interest on it.
     
  13. Smyth

    Smyth Active Member

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    Yes, if you're going to borrow to do something, best do when interest rates are low. But, we don't need to borrow.
     
  14. Lewis

    Lewis Active Member

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    Leaving county roads and bridges aside; the interstate highway system includes hundreds of bridges. The National Park system has thousands of square miles of infrastructure to maintain. There is a role for the Feds to play in these areas.
     
  15. carpro

    carpro Well-Known Member

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    The states own and maintain the interstate system. That being said, the federal government taxes gasoline pretty heavily and, recognizing a long term committment to the integrity of the system, uses that money to help the states maintain the system.
     
  16. Lewis

    Lewis Active Member

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    Yes, Surface Transportation Assistance Act of 1982 sets aside Federal $$ for highway and bridge projects. The Federal share was set at 75% of costs of maintenance. Currently, The Transportation Equity Act for the 21st Century continues funding.
     
  17. Crabtownboy

    Crabtownboy Well-Known Member

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    So he wants to continue his record of bankruptcies; Bankrupt companies, bankrupt countries.
     
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  18. Lewis

    Lewis Active Member

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    Except that the great majority of Trump's businesses have been successful, and he runs 185 money making ventures.

    Notice that Obama doubled the national debt in seven years, and his failed clean energy loans have left US taxpayers with $2.2 billion debt.
     
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