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re: What is Trump's plan for inflation and reducing the federal deficit/debt?
Posted on 3/10/24 at 9:12 am to Tight 10
Posted on 3/10/24 at 9:12 am to Tight 10
quote:
My everyday living was cheaper under Trump.
Until 2020.
Its impossible to separate Trumps spending from the inflation and chaos that followed.
1
Posted on 3/10/24 at 9:13 am to momentoftruth87
quote:
Thought you were a conservative. Tax cuts are bad now?
Tax cuts needs to be paired with decreasing government spending, otherwise you will run massive deficits (for a period, even theoretically if you can grow non-governmental GDP to make up for this gap, it takes years).
Posted on 3/10/24 at 9:13 am to RogerTheShrubber
quote:
Until 2020
The world shut down you moron. What would you have done and tell me the politicians who would have listened to you.
Posted on 3/10/24 at 9:13 am to SlowFlowPro
You forgetting trade deals and tariffs that were making us billions?
Posted on 3/10/24 at 9:15 am to SlowFlowPro
quote:What was Trump spending money on early in his term before Covid?
Look at the spending increase rates pre-2020. I posted the graph on page 1.
Posted on 3/10/24 at 9:15 am to momentoftruth87
quote:
You forgetting trade deals and tariffs that were making us billions?
a. They weren't that effective because they caused less trading
b. They did not generate much revenue. This is like trying to bring up Ukraine spending as some major cost in the big picture.
Posted on 3/10/24 at 9:15 am to momentoftruth87
quote:
Thought you were a conservative. Tax cuts are bad now?
They are fantastic. Unless you continue to grow debt at a higher rate. Like Trump.
Trumps tax cuts had no affect on cutting debt or decreasing spending. In economics they call his ideas "Modern Monetary Theory."
BTW: Thats also Bernies passion.
quote:
Modern monetary theory or modern money theory (MMT) is a heterodox[1] macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires.[2][3] According to MMT, governments do not need to worry about accumulating debt since they can create new money by using fiscal policy in order to pay interest. MMT argues that the primary risk once the economy reaches full employment is inflation, which acts as the only constraint on spending. MMT also argues that inflation can be addressed by increasing taxes on everyone to reduce the spending capacity of the private sector.[4][5]
You'll pay those tax cuts back in inflation, or even taxation at a later time.
This post was edited on 3/10/24 at 9:17 am
Posted on 3/10/24 at 9:16 am to SlowFlowPro
quote:It has subsided. Make no mistake, we may yet see "persistent inflation" fuelled by fiat devaluation. It would frankly surprise me if we didn't. We also saw signs of monetary induction in late 2020. But that was clearly not the primary cause of inflation in 2021.
Again, if it were just this, inflation would have subsided.
Posted on 3/10/24 at 9:17 am to ReauxlTide222
quote:
What was Trump spending money on early in his term before Covid?
Same shite they all do.
Medicaid, Medicare, SS, the military, and interest.
The rest is rather insignificant.
Posted on 3/10/24 at 9:19 am to NC_Tigah
quote:
It has subsided.
The rate of increase has subsided, but the inflation has not. Prices would be decreasing, not increasing more slowly.
quote:
we may yet see "persistent inflation" fuelled by fiat devaluation
Unless the world stops trading with itself, this is unlikely. There is no competitor to the USD and your very own argument displays this.
Posted on 3/10/24 at 9:19 am to SlowFlowPro
quote:
Medicaid, Medicare, SS, the military, and interest
quote:
President Trump said he has signed the 2,232-page omnibus spending bill — but warns he will never do this again.
"There are a lot of things we shouldn't have had in this bill but we were, in a sense, forced if we want to build our military, we were forced to have," Trump said.
"There are some things we should have in the bill. But I say to Congress, I will never sign another bill like this again."
Any other Republican would have been destroyed on this board for doing what Trump did. He sold out to the Democrats to increase the military budget,
Posted on 3/10/24 at 9:20 am to RogerTheShrubber
quote:
He sold out to the Democrats to increase the military budget,
He made it not woke
or
He had to fix problems Obama created
Posted on 3/10/24 at 9:20 am to SlowFlowPro
Unfortunately the inflation is built into the cake with the dissolution of globalization. We’ll come out better on the other side of things but it’s gonna hurt for a while as industry shifts back to the hemisphere.
This post was edited on 3/10/24 at 9:21 am
Posted on 3/10/24 at 9:21 am to RogerTheShrubber
Slowflow you are obviously the smartest person alive and know everything.
Why don’t you run for office and bless us all with your brilliant mind and ideas?
You’re one of those people that loves to criticize successful people and pretend to be so much smarter than them while never accomplishing half of what the ones you criticize have.
Why don’t you run for office and bless us all with your brilliant mind and ideas?
You’re one of those people that loves to criticize successful people and pretend to be so much smarter than them while never accomplishing half of what the ones you criticize have.
Posted on 3/10/24 at 9:22 am to Tight 10
quote:
You’re one of those people that loves to criticize successful people
Would you call Trumps Economics successful?
Posted on 3/10/24 at 9:23 am to SlowFlowPro
quote:
quote:Trump would have been crucified if he didn’t pass the CARES Act while local governments shut down their economies. The “do something” crowd owns that. At the same time he was never a spending hawk so he gets to own it for passing it, and on one of his last days extending it. But even prior to this, Trump's spending was increasing at a similar rate to Obama's.
You do the things which are leading to crazy spending down the line.
Stop wasting money on war/money laundering foreign aid. Stop wasting money on open border policy that is just adding more and more illegal immigrant dependents on the government.
Posted on 3/10/24 at 9:25 am to SlowFlowPro
quote:Who should we vote for in order to reign in spending on those things?
Same shite they all do.
Medicaid, Medicare, SS, the military, and interest.
Posted on 3/10/24 at 9:25 am to Roger Klarvin
quote:
Unfortunately the inflation is built into the cake with the dissolution of globalization.
That's a different inflation that hasn't really begun yet.
quote:
We’ll come out better on the other side of things but it’s gonna hurt for a while as industry shifts back to the hemisphere.
As long as the manufacturing output matches the cost, we probably won't see much inflation because the increase in manufacturing cost (compared to poor Asia) will be offset by transportation costs.
Posted on 3/10/24 at 9:26 am to Colonel Flagg
quote:
Stop wasting money on war/money laundering foreign aid.
This amount is so insignificant it has no bearing in this discussion
Posted on 3/10/24 at 9:27 am to RogerTheShrubber
Trump is filthy rich and has been POTUS…..
Yeah I’d say he’s more successful than you clowns.
Look I’m under no delusion that the man is perfect. We all have our flaws. But to suggest what we’re experiencing rt now under Biden is Trumps fault is just laughable.
Reminds me of Obama blaming Bush for 8 years while he ran the country into the ground
Yeah I’d say he’s more successful than you clowns.
Look I’m under no delusion that the man is perfect. We all have our flaws. But to suggest what we’re experiencing rt now under Biden is Trumps fault is just laughable.
Reminds me of Obama blaming Bush for 8 years while he ran the country into the ground
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