Trump on Coming Debt Crisis: "Yeah, but I won’t be here,”

Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of the importance of tackling the national debt.

Sources close to the president say he has repeatedly shrugged it off, implying that he doesn’t have to worry about the money owed to America’s creditors—currently about $21 trillion—because he won’t be around to shoulder the blame when it becomes even more untenable.

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the national debt in the not-too-distant future. In response, Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

“Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.

https://www.thedailybeast.com/trump-on-coming-debt-crisis-i-wont-be-here-when-it-blows-up?ref=scroll

What happened to the party of financial responsibility? Remember Obama's attempts at a so called "Grand Bargain" where he wanted to cut 4 trillion dollars over the next decade? Trump clearly doesn't care, and republicans in congress proved they didn't care. We're going to be re-living 2008 again before you know it and that's really depressing.

The only thing saving the US from financial ruin at the moment is the fact that it is the world's reserve currency.

The 2008 bailout didn't fix anything, it made things worse because it drastically increased debt. Basically you, the taxpayer bailed out the 1%.

If you look at debt levels, this isn't just a US problem, it's a problem with a lot of countries.

@Serraph105: Budgets, deficits, and debt matters to the right only when they are not in power. When they are in the white house they get the blank check syndrome, and then scapegoat the liberals.

@Lach0121: That's the reality I need to remember when shit like this goes on and I get pissed and I'm like, "But what was all that talk about earlier?"

The reality I need to keep in mind is that Republicans were lying all along, or, rather, they don't support ideas that actually work in practice. Unless they were intending for their plans to make an economic downturn happen so they can give the rich more money, blame the dems for the economic failure, and repeat.

@Damedius: Yep, proves my point.

Trump: The voice of the Baby Boomers, personified.

Well, that or their actions.

I don't think Trump will be elected a second term. Pretty sure a Democrat will be elected. My guess is Bernie Sanders.

This is why I hope he gets a second mandate.

Even he knows he won't win another term.

@Damedius said:

@Lach0121 said:

@Serraph105: Budgets, deficits, and debt matters to the right only when they are not in power. When they are in the white house they get the blank check syndrome, and then scapegoat the liberals.

Loving the choice of colours here and when it cuts off.

@Damedius: Hahaha you know your graph shows the Republicans are at fault.

It's unfortunate that you can't read graphs but I'm not surprised. I suppose you only see what you want to see.

Show me a graph comparing it to a % GDP, or perhaps overlaying it against economic downturns as well. That's the thing about debt, it's a useless number in a vacuum even on an individual level for your everyday person.

on the bright side. all the tariffs trump imposed has brought the trade deficit down to it's highest level in 10 years...

oh, wait.

what?

No.

If you want to do that feel free.

@Serraph105: Democrats are the ones that raised the national Debt to record numbers. How you find a way to blame Republicans is astounding.

Of course Trump doesn't care. This presidency isn't about the benefit of America, it's about Trump.

Careful, you wouldn't want to add context and learn anything.

The context of course being that they were doing their best to clean (aka the recession of 2008) up the mess left by republicans.

Context, it helps you understand and learn the truth. No wonder republicans are so opposed to including it.

Oh I can read a graph. But I find your statement more accurate to describe yourself so you're projecting. Wonderful. Own your mistakes.

Like I said go ahead.

Why exactly should I do the work that you are to lazy to do?

Oh wait you're a Democrat, you expect people to do the work for you, my bad.

And yet the working class is mostly Democrats. Again with ignoring facts.

True. Only space aliens vote for Republicans.

Uneducated is the word you're seeking.

Apparently not.

And again you cannot have a discussion with someone ill equipped to have it. You presented the graph...it doesn't show what you think it show. Republicans have not been fiscally responsible since the 80s.

@Serraph105: You mean the bailout that did nothing but increase the Debt?

@blackhairedhero: "You mean the bailout that did nothing but increase the Debt?"

You and I both know that's nonsense

@mattbbpl: I couldn't be bothered to respond to that one. It's just so wilfully ignorant.

True. It also took money from the general population and gave it to the 1%.

That would be the tax cuts...

So all tax cuts take money from the general population and give it to the 1%?

OK.

instead of continuing the blind partisanship. let's acknowledge the fact that BOTH parties are responsible.

that's the problem. so much energy spent on blaming and so little spent on figuring out what to actually do about it.

Tax cuts result in money going to the top 1%, and the general population has to pay for it in the long term. This has been shown with Reagan's tax cuts, Bush's tax cuts, 2nd Bush 's tax cuts, and is already starting to show with Trumps.

But yeah... OK.

So if I cut taxes on every person making $50,000 or less, I'm actually giving that money to the 1%?

By your logic we should increase taxes on anyone making less than $50,000 so that the 1% don't get that money.

Complete BS. Tax cuts on the rich results in the rich actually paying their taxes. In the past 100 years, there have been 4 administrations that have significantly lowered income taxes on top earners, in varying different economic conditions. Every time the top tax rate was lowered, it results in an increase in tax revenue.

Trumps tax cuts were mainly corporate tax cuts. If you think corporate taxes are a tax on the rich, then you have no idea how corporate taxes work.

That is the result of the tax cuts I listed above. None of those were cutting taxes on low, or lower-middle income people. It was done for much higher up people with the promise of it trickling down to the households, and it hardly ever does.

However, since you so blatantly attempted a straw-man argument. I will leave you to do it with others.

Why did you make the blanket statement that all tax cuts go to the 1% in the first place?

@Lach0121: You are delusional. I got a tax cut and I'm not close to the top 1%. You sheep will literally believe every narrative they throw at you.

Weird the effect isn't supposed to be felt until tax filings next year.

@blackhairedhero: Delusional? Sheep? That is down right rich coming from you... anyway moving along.

Doesn't that idea kind of ignore the fact that the parties have opposing ideologies and regardless of whether or not people (and politicians) can stop playing the blame game and simply agree to work on this issue, that politicians will still come to the same ideas that they have always pursued? And that those ideas tend to undermine each other's plans?

@Lach0121: lol you are a dumb NPC.

Stay programmed.

I think the problem is you believe that America is still a Republic and deny the Empire it has become.

@LJS9502_basic: https://smartasset.com/taxes/heres-how-the-trump-tax-plan-could-affect-you

Find out how it effects you.

@blackhairedhero: The hypocrisy... Buzz off.

that's where compromises have to come into the picture. unfortunately we have politicians who take their ideology are religion, confident in the rightness of their position, immune to compromises.