There goes the Donald going back on another promise – this time it’s his ridiculous promise to end the federal debt by the end of two presidential terms.
Donald Trump is walking back his previous pledge to erase the national debt after about a decade if he’s elected president.
“You have said you plan to pay off the country’s debt in 10 years. How is that possible?” a reporter for Fortune Magazine asked the Republican presidential front-runner in an interview published Friday.
“No, I didn’t say 10 years,” Trump said. He then suggested that instead of paying it all off, he would pay off an unspecified “percentage” of the national debt as president.
“It depends on how aggressive you want to be,” he said. “I’d rather not be so aggressive. Don’t forget: We have to rebuild the infrastructure of our country. We have to rebuild our military, which is being decimated by bad decisions. We have to do a lot of things.”
LOL!! What a moron. I don’t know who’s stupider, him for saying such a dumb thing, or his legion of sycophants for believing it!! Ironically, I tried to find some tweets of his supporters pushing his idea, and couldn’t find any – maybe they actually KNOW he’s lying to them and they don’t care?
He just rambled on incoherently to the Examiner about it, as he does with everything else:
“We have to reduce our debt, and the best thing we have going now is that interest rates are so low that lots of good things can be done that aren’t being done, amazingly,” he said.
Trump also suggested that a big part of the answer to the debt is how it’s financed.
“First of all, with low interest rates, you can think in terms of refinancing, and get it down,” he said. “I believe you can do certain things to pay off the debt more quickly. The most important thing is to make sure the economy stays strong. You can do it in smaller chunks. You can do it in larger chunks. And you can do it in refinancings.”
The national debt is at more than 100% of our annual GDP. It’s also about SIX TIMES as much as our yearly federal budget, which tosses another trillion on the pile every year. He would have to cut TWO TRILLION from the budget, which is almost a tenth of the entire economy of the United States, just to get the debt down by $8 trillion. In other words, either the Donald is a complete idiot and a liar, or he can’t do math.
My money is on both.
Here’s what he said before:
In early April, Trump told the Washington Post that he intended to reduce the country’s rapidly climbing national debt by $2 trillion each year through the “power of trade.”
The billionaire’s projection, which he made during an interview with veteran reporter Bob Woodward, was featured in a Post article titled, “Trump’s nonsensical claim he can eliminate $19 trillion in debt in eight years.”
Now we wait for the next flip flop. We should start a betting pool. What do you think he’ll flip on next?