Trump plans $10.5T cut to spending

[WVPATX]

http://freebeacon.com/issues/trump-plans-eliminate-nea-neh-cut-spending-10-5-trillion/

Bill Clinton appointed Al Gore to head up the program to cut waste, fraud and abuse from the government as part of his desire to "Reinvent Government" using processes at the time called Reengineering (used by companies to save money by dramatically reducing expenses).

Clinton had the right idea, but execution was lacking. Let's see how this one turns out.

 

[moe]

http://freebeacon.com/issues/trump-plans-eliminate-nea-neh-cut-spending-10-5-trillion/

Bill Clinton appointed Al Gore to head up the program to cut waste, fraud and abuse from the government as part of his desire to "Reinvent Government" using processes at the time called Reengineering (used by companies to save money by dramatically reducing expenses).

Clinton had the right idea, but execution was lacking. Let's see how this one turns out.

National Debt Would Increase $11.5 Trillion Under Trump, Report Says
http://www.foxbusiness.com/politics/2016/06/28/national-debt-would-increase-11-5-trillion-under-trump-report-says.html

 

[bornaneer]

National Debt Would Increase $11.5 Trillion Under Trump, Report Says
http://www.foxbusiness.com/politics/2016/06/28/national-debt-would-increase-11-5-trillion-under-trump-report-says.html

FOX ??????

 

[Boomboom521]

FOX ??????

He's trying to speak your language

 

[WVPATX]

National Debt Would Increase $11.5 Trillion Under Trump, Report Says
http://www.foxbusiness.com/politics/2016/06/28/national-debt-would-increase-11-5-trillion-under-trump-report-says.html

So if Trump cuts $10.5T, then he only adds $1T to our debt. Obama did more than that in just one year.

But as with all projections, it all depends on assumptions. Let's see what gets enacted, what happens to GDP growth and Treasure revenue growth, cost cutting measures, etc. and then make our judgment.

 

[bornaneer]

He's trying to speak your language

Trying to speak my language? I have no clue what you mean by that. I was questioning FOX News as a source he would use. This person usually discredits anything that is related to FOX.

 

[Op2]

This reminds me of the story of Jesus and the bread and fish. We start with a lot of people and only a little bread and fish. And then all the people eat all they want. And yet somehow at the end we haven't run out of bread and fish.

Our deficit is large. And Trump is going to spend like crazy on all kinds of infrastructure. And yet somehow at the end our deficit will be smaller.

 

[WVPATX]

This reminds me of the story of Jesus and the bread and fish. We start with a lot of people and only a little bread and fish. And then all the people eat all they want. And yet somehow at the end we haven't run out of bread and fish.

Our deficit is large. And Trump is going to spend like crazy on all kinds of infrastructure. And yet somehow at the end our deficit will be smaller.

If you cared about debt, you would blast Obama. But you don't. It seems that Trump is going to cut taxes and spend, you are right. We have little idea the impact. Reagan cut taxes and spend and revenues to the Treasure in 8 years more than doubled. JFK also cut taxes and spent and the economy grew along with Federal revenues. Heck, even famed lib economist, Paul Krugman, said we needed to spend more money.

As I correctly stated, these are all projections. Let's see what get enacted, what cuts are actually made, what happens to GDP and Treasury revenue and what happens do our deficits. Give him 4 years and then we can all judge with actual numbers.

 

[countryroads89]

So if Trump cuts $10.5T, then he only adds $1T to our debt. Obama did more than that in just one year.

But as with all projections, it all depends on assumptions. Let's see what gets enacted, what happens to GDP growth and Treasure revenue growth, cost cutting measures, etc. and then make our judgment.

Let me give you a tip, some friendly advice.

In your first post, you cite a reference that states Trump is going to cut SPENDING by $10 T (I don't believe it, but that is beside the point).

Moe responds with an article that states the DEBT would increase $11.5 T. You never mention the fact that Trump said he was going to decrease tax revenue by reducing taxes on the wealthy.

Learn the difference between, spending, revenue, deficit and debt.

I honestly hope Trump makes significant investments in infrastructure (increase in spending in that particular area). From everything Trump has said, he will increase spending across the board while decreasing revenue, which results in much larger deficits. And with the interest on the existing debt, I'm sure we will see a significant increase in the national debt. So, we will blame that on Trump just like you blamed the significant increase in debt on Obama.

 

[WVPATX]

Let me give you a tip, some friendly advice.

In your first post, you cite a reference that states Trump is going to cut SPENDING by $10 T (I don't believe it, but that is beside the point).

Moe responds with an article that states the DEBT would increase $11.5 T. You never mention the fact that Trump said he was going to decrease tax revenue by reducing taxes on the wealthy.

Learn the difference between, spending, revenue, deficit and debt.

I honestly hope Trump makes significant investments in infrastructure (increase in spending in that particular area). From everything Trump has said, he will increase spending across the board while decreasing revenue, which results in much larger deficits. And with the interest on the existing debt, I'm sure we will see a significant increase in the national debt. So, we will blame that on Trump just like you blamed the significant increase in debt on Obama.

Let me give you some advice. Know the subject at least somewhat before posting. If Trump does indeed reduce spending by $10.5T, that is spending that is currently planned that won't be added to the debt or offset by revenues.

Let me make it easier. If company A has a line of credit for $1M. They have a business downturn and revenues decline. They have two options. Cut spending or borrow. If they cut spending, they don't have to borrow and add to their debt.

Why do you assume that reducing taxes reduces revenues to the Treasury? That was untrue under Reagan and also under JFK, perhaps not in year 1, but in subsequent years as economic growth kicked in. Both saw fairly explosive economic growth and dramatic increases in taxes paid to the Treasury.

And Obama was entirely to blame for growing our debt more than all prior presidents combined. He started his debt build-up in 2009 with his failed $850B stimulus. Bush's 2009 budget was never passed by Congress. And without the failed stimulus, the deficit that year would have been much smaller.

 

[sprucestwvu]

Billionaires are coming to save the working man!

 

[countryroads89]

That was untrue under Reagan

You were intentionally misleading on Reagan. He did initially reduce taxes but he increased spending and had to increase taxes - ELEVEN TIMES.

 

[WVPATX]

You were intentionally misleading on Reagan. He did initially reduce taxes but he increased spending and had to increase taxes - ELEVEN TIMES.

No, you're the one misleading. Yes, Reagan raised taxes but on an overall basis, his tax cuts far outweighed his tax increases. You need to do far more research. A history of both tax cuts and increases in taxes.

http://dailycaller.com/2012/06/06/ronald-reagan-raised-taxes-11-times-the-real-story/

 

[countryroads89]

No, you're the one misleading. Yes, Reagan raised taxes but on an overall basis, his tax cuts far outweighed his tax increases. You need to do far more research. A history of both tax cuts and increases in taxes.

http://dailycaller.com/2012/06/06/ronald-reagan-raised-taxes-11-times-the-real-story/

Let's do a sanity check for a moment. If Trump is going to reduce spending by $10.5 T over a ten year period, that's an average of roughly $1.05 T per year. The entire federal spending for 2015 was only $3.7 T.

Do you really think he is going to cut spending by more than 28%?

I believe it as much as I believe he will make Mexico pay for that wall.

 

[Op2]

Here is what Trump's exaggerations remind me of.

https://video.search.yahoo.com/yhs/...07e14187b0bbb13c111769bf0efc6c85&action=click

 

[WVPATX]

Let's do a sanity check for a moment. If Trump is going to reduce spending by $10.5 T over a ten year period, that's an average of roughly $1.05 T per year. The entire federal spending for 2015 was only $3.7 T.

Do you really think he is going to cut spending by more than 28%?

I believe it as much as I believe he will make Mexico pay for that wall.

Sanity check. Did Fox proclaim that Trump was going to create a deficit of 11 1/2 trillion dollars in year one? No. I believe the spending cuts, although not stated in the article, cover many years. Never

 

[countryroads89]

Sanity check. Did Fox proclaim that Trump was going to create a deficit of 11 1/2 trillion dollars in year one? No. I believe the spending cuts, although not stated in the article, cover many years. Never

Reading comprehension, try it. Go back and re read my last post. Are you drunk?

You are interchanging deficit with spending cut again. And it did state the time frame in the article, I used the time frame in my last post.

 

[WVPATX]

Reading comprehension, try it. Go back and re read my last post. Are you drunk?

You are interchanging deficit with spending cut again. And it did state the time frame in the article, I used the time frame in my last post.

Actually, I am at a sports bar drinking but that is beside the point. And if he can cut spending about 25% or more I am all in favor of it. I don't know if his spending cuts are over the same time As fox's report on his deficit increase or not.

My point is, let's wait and see where we stand after four years. We know what Obama gave us. And incredibly weak economy and a $10 trillion addition to our debt. One of very few presidents to never achieve an annual growth rate of a meager 3%.

If Trump can't beat that miserable record, I'd be the first to vote against him in four years.

 

[dave]

National Debt Would Increase $11.5 Trillion Under Trump, Report Says
http://www.foxbusiness.com/politics/2016/06/28/national-debt-would-increase-11-5-trillion-under-trump-report-says.html

How can anyone say that without seeing a budget? The answer is they cant. Not surprised you fell for it motard.

 

[EERs 3:16]

Right, this and 'shovel ready jobs'......

 

[TarHeelEer]

Our deficit is large.

You haven't said a word about deficit while Obama was in office. Sit down and shut up, you have no standing.

 

[CAJUNEER]

You haven't said a word about deficit while Obama was in office. Sit down and shut up, you have no standing.