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February 9, 2017

The Debt Crisis Is Here (Video)

By EconMatters



We discuss how Donald Trump has illogical views in this video, on one hand he plans to lower Corporate Taxes, and on the other hand he argues against the perils of the ballooning National Debt. Donald Trump`s tax plan will add from 5 to 10 Trillion to our National Debt at a time when we cannot afford these policies. Ultimately, everything comes down to this crucial issue in economics and politics: Who is going to pay for it? The devil is in the details, and this is part of the reason Donald Trump is so vague in the details of his spending plans for growing the economy. His mouth ends up writing checks, that he as a citizen wasn`t even willing to fund by avoiding paying taxes for 18 years.

It all comes down to this basic point, somebody`s got to pay for all your plans Donald Trump, and we have already maxed out our credit cards in this country with 20 Trillion Dollars in a massive debt overhang right now. So again I ask: Who is going to pay Donald Trump? This is where the rubber meets the road, whether it is building a border wall, an infrastructure plan, or tax cuts for Corporations; those policies don`t pay for themselves. This is the bill of goods Donald Trump is selling, and I am not buying this snake oil.

The rate of change of the adding to the National Debt, even before the entitlement`s start hitting next year is astounding, in short the Debt Crisis is already here Donald Trump. You need to cut spending; you or congress have no room for adding anymore to the National Debt. If the Trump Administration just held spending constant over the next four years, we would still add another 8 Trillion Dollars to our National Debt over the next 4 years due to the entitlement obligations curve finally hitting the budget, and the debt recession that is coming down the pike. Think about that for a moment, the Debt Crisis is Here Folks!



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Item Reviewed: The Debt Crisis Is Here (Video) Rating: 5 Reviewed By: EconMatters