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Old 11-20-2017, 12:32 PM
 
2,474 posts, read 1,391,732 times
Reputation: 5110

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Quote:
Originally Posted by legalsea View Post
Let us examine this article from November 8, 2017, from the Business Insider:


Trump tax cuts will only temporarily boost economy while raising debt - Business Insider


"That debt-to-GDP ratio just shot up to 105% based on annualized Q3 GDP of $19.5 trillion and the US gross national debt of $20.5 trillion that had spiked by $640 billion in eight Weeks, following the suspension of the debt ceiling in September. The debt-to-GDP ratio was 103% earlier this year."


Now, one may argue that down is up, up is down, but such does not replace facts. Let us recall that another CD poster was pleased to report, in June, that Mr.Trump had actually lowered the National Debt by a 101 billion:


National Debt Decreasing Under Trump - $101 Billion Decrease Reported


Of course, it was not true. Indeed, the thread dropped from sight after my posting, linking to the National Debt Clock.


However, it did not discourage yet another CD poster from quickly starting a new thread claiming the same decrease in the national debt, linking to the redoubtable Mr. Hoft of the Gateway Pundit:


Trump has reduced Federal Debt by 100 billion!


Alas! That thread also died a premature death! Facts are stubborn things.


I will say this: The Gateway Pundit does serve its intended audience well. It regularly reported the direst economic news up to January 19, 2017, but that that date, things are rosy indeed!


Excellent
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Old 11-20-2017, 12:45 PM
 
3,893 posts, read 3,226,791 times
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Dad always said,"consider the source" when looking for truth:

TGP has been cited by Sean Hannity, Rush Limbaugh, The Drudge Report, The Blaze, Mark Levin, FOX Nation and by several international news organizations.

All our finer "news" types have chimed in on the validity of the OP's source of political enlightenment.......So much for the truth of Donald's "accomplishments..
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Old 11-20-2017, 12:47 PM
 
14,340 posts, read 3,788,271 times
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Wait - is Trump going to balance the Budget? Yes or No?
Is he going to pay down some of the 20 Trillion National Debt? Again, Yes or No?

Making up metrics to fit isn't going to work. We are going to have more crashes, wars, recessions, etc. and where will we be sitting with a 20+ Trillion debt and now even close to a balanced budget.

Remember, GDP includes mass suffering. When that bomb drops on 200 civilians, GDP increases. When you get screwed for your medical care....and then need much more than you should (lifestyle, lack of education, lack of preventative), GDP INCREASES.

Praying at the Altar of GDP is stooping to a false God. Where did that GDP go to? ALL signs point that it went to the 1% or the .001%.
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Old 11-20-2017, 12:47 PM
 
22,769 posts, read 26,068,785 times
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debt to GDP was reduced at least one year under obama. hardly 'the impossible'
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Old 11-20-2017, 01:26 PM
 
2 posts, read 311 times
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Quote:
Originally Posted by pghquest View Post
And all of those bonds need paid back, with interest...
https://www.cnbc.com/2017/04/05/fed-...this-year.html
Sure but only after the economy is in a much stronger position.
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