President Donald Trump
I assume it's still acceptable to have a Trump thread in a Politics forum?
So this is an obvious lie - basically aimed at
And, by the way, no way no how is reducing the debt burden even a microscopic reason trump is doing this.
Maybe stop increasing debt, which the republicans are really good at. Maybe don't give the ultra wealthy a trillion dollar tax cut.
No, the talking heads don't see this as nearly as big a problem as a global recession.
Do you realize the vast majority of the deficit is linked to ever-increasing payments to social security, medicare and medicaid yes?
Do you realize not renewing Trump tax cuts wouldn't be enough at all? and raising taxes only on the very rich wouldn't as well?
Maybe the left should start admitting that it's either higher taxes for normal people, or a cut in benefits, or both.
Hey guys. Nice place you got here.
Why's Russia not tariffed, but Iran and uninhabited Islands are?
Commerce Secretary Lutnick was on Bloomberg this morning and was asked that question. He claimed it's because it's already illegal to do trade with Russia, so the tariffs wouldn't be meaningful. He wasn't asked about Iran.
Annual Interest payments on debt are a little under $1 trillion/year now, and are expected to double in the next 10 years.
Do the talking heads think this isn't a problem, or that raising tariffs to cool down the economy is not a good idea to handle the debt problem? What ideas do the talking heads propose?
Slowing down the economy will lower receipts. Deficit will go up.
Fair enough. But if we are servicing all that debt at 2% instead of 4%, would still probably reduce the deficit in the short run. I mean, when people refinance to lower their mortgage significantly, their overall deficit theoretically "goes up", but everyone still does it because significantly smaller payments on the debt make the overall proposition +EV.
I mean, I bought my house in 2021 at a fairly high rate, and if the rate went down 2% I would definitely refinance and consider it a massive W. Although I accept if my wife or I lost our jobs and our income significantly decreased because of a poor economic climate it would be a very pyrrhic victory at best.
let's hope that happens to you
Yuk it up, everyone. You earned this one.
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Most of the people posting on this subject are economically illiterate, and are just playing from the partisan politics playbook, so what they have to say isn't really interesting. However, I recently read a "steel man" argument for the tariffs I wanted to run through you (and anyone else that has more to offer than just lizard brain tribalism).
Anyways, many people argue the greatest threat to the future of the US is interest payments on the debt, which has become an unmanageable number. And a
Yeah the problem is that this method is very unlikely to achieve that. The most generous line of thinking about this current track would be to harken back to Trump's classic business MO. You see an unavoidable long-term debt/profitability issue so you speed run the bankruptcy instead. You might as well walk away from all of your deals/promises while you're still in a position of power.
I mean, I bought my house in 2021 at a fairly high rate, and if the rate went down 2% I would definitely refinance and consider it a massive W. Although I accept if my wife or I lost our jobs and our income significantly decreased because of a poor economic climate it would be a very pyrrhic victory at best.
That's not how it works for government though. It doesn't get to refinance the medium and long term part of the curve during temporarily low rates. It only "refinances" new issuances.
Yes on the front end there are savings during low rates. But they are never close to the increase in deficit that is caused by more welfare being paid out during a recession, and lower tax revenue because of the slowdown.
And that's only the so called "automatic stabilizers", if congress passes any form of keynesian deficit because of the recession, that's on top of the automatic increase.
Can you even imagine how apeshit crazy the trumpers would be if biden had done this?
Fair enough. But if we are servicing all that debt at 2% instead of 4%, would still probably reduce the deficit in the short run. I mean, when people refinance to lower their mortgage significantly, their overall deficit theoretically "goes up", but everyone still does it because significantly smaller payments on the debt make the overall proposition +EV.
It seems more than a little improbable to me that this is the actual plan. Also, we had an extremely lengthy period of low interest rates, including during Trump's first term.
Conservative groups were urging Trump to refinance the U.S. debt at that time.
lol, who is the "you" here? Still pretending you haven't been a relentless Trump dickrider since day 1?
Now is not the time for jokes, Trolly. Now is the time to mourn USA#1.
I see the EU is preparing to consider a full market ban on US goods and services. Does this also include US media and tech companies? Get your Command Line For Dummies books out, Europe. Linux is about to see a meteoric rise in popularity. Stocks for The Great British Bake Off are gonna fly. To be fair, Hollywood kind of deserves this for all the terrible garbage and lazy reboots they've been shoveling down our throats.
It seems more than a little improbable to me that this is the actual plan. Also, we had an extremely lengthy period of low interest rates, including during Trump's first term.
yes but the housing market is basically frozen because of that.
The smart solution would be for regulators to make it far easier for mortgages to be portable, and/or for legislation to be written for the purpose.
But right now too many people have outstanding mortgages at under 4, and don't upsize or downsize because the new mortgage would be at 6.5 or more. It's rational for them ofc but the end result is a frozen housing market.
I do agree this has nothing to do with the reason(s) for Trump tariffs
Now is not the time for jokes, Trolly. Now is the time to mourn USA#1.
I see the EU is preparing to consider a full market ban on US goods and services. Does this also include US media and tech companies? Get your Command Line For Dummies books out, Europe. Linux is about to see a meteoric rise in popularity. Stocks for The Great British Bake Off are gonna fly. To be fair, Hollywood kind of deserves this for all the terrible garbage and lazy reboots they've been shoveling down our throats
They won't, it would be a complete collapse for us , too many companies use american companies cloud services for example.
Software is sold domestically by the european branches of american companies, that's not trade even if there is profit shifting so all the profit is booked elsewhere . The transaction is an european individual or company buys or pays for sw from an european company (fully owned by the american headquarters ofc). But that's not trade.
You're obviously correct, but it would've also been completely out of character for Biden.
Trump gets pass after pass because every single thing he does seems more insane than the last. That's why the left despises him so very much, and why fans are willing to overlook all of the truly batshit insane stuff he says and does as Trump being Trump, because some of the crazy **** he does is right up their alley. Gotta take the bad with the good.
Biden never did anything for someone wearing a MAGA hat. Whereas Trump never did anything for a woke socialist. It's just L after L after L and there are no Ws to soften the blow.
You guys are mad. You should be mad.
Buuuuuuuuut you also kinda brought this on yourselves. JFC why can't you just put forth halfway-decent candidates for office?!? Biden was a walking corpse and you replace him with Harris?!
Now is not the time for jokes, Trolly. Now is the time to mourn USA#1.
I see the EU is preparing to consider a full market ban on US goods and services. Does this also include US media and tech companies? Get your Command Line For Dummies books out, Europe. Linux is about to see a meteoric rise in popularity. Stocks for The Great British Bake Off are gonna fly. To be fair, Hollywood kind of deserves this for all the terrible garbage and lazy reboots they've been shoveling down our throats
I prefer black and white French films with subtitles anyway, makes me feel sophisticated.
