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I agree it is not only the tax cuts - but those tax cuts were yet another component which exacerbated the inflated market. But, of course, when one irresponsibly legislates to line one's pockets and buy a few votes - the outcome is predictable.
In the end, the ballooning deficits and debt service costs resulting from that debacle will far outstrip any expected "revenues." putting us further down the slippery slope.
I agree it is not only the tax cuts - but those tax cuts were yet another component which exacerbated the inflated market. But, of course, when one irresponsibly legislates to line one's pockets and buy a few votes - the outcome is predictable.
In the end, the ballooning deficits and debt service costs resulting from that debacle will far outstrip any expected "revenues." putting his further down the slippery slope. They are all fools.
The downdraft will continue tomorrow it appears.
The cost of interest on debt will surpass the DOD budget in 2023, I do believe that is significant.
The cost of interest on debt will surpass the DOD budget in 2023, I do believe that is significant.
And it won't be too far down the line after that the interest cost on debt service will outstrip all incomming tax revenue collection.
Theoretically that's when the system should be mathematically disempowered from functioning --- but you can bet they'll try to come up with another work-around.
His entire fame was self-created in a reality show where everything worked out perfectly within the time slot...all scripted and with commercials.
He must have had one heck of an abusive childhood that he has since choosen to live in his very own self-created fantasy world where black is white and up is down - and inflict his destructive fantasy on the entire country. Isn't this denial a defense mechanism of multiple personalities? Or, he does this to disguise his own all too evident inadequacies and shortcomings.
The man never met a real truth or fact he could acknowledge.
Last edited by Ariadne22; 10-11-2018 at 05:41 PM..
The cost of interest on debt will surpass the DOD budget in 2023, I do believe that is significant.
We will end up with very painful austerity for years to come. But just keep rates low because of years of fiscal mismanagement by the current and previous administrations and congress is not a solution. We could end up with even higher inflation and interest rates to fight it. Either way we are screwed long term. The fans of Obama did not care for 8 years and the Trumpers don't care now. But it is a big mess.
And it won't be too far down the line after that the interest cost on debt service will outstrip all incomming tax revenue collection.
Theoretically that's when the system should be mathematically disempowered from functioning --- but you can bet they'll try to come up with another work-around.
It would take massive cuts in defense, social security and other social programs. Or default.
Salivating like Pavlov's dogs that America will fail.
No wonder working America has abandoned them.
Kinda like when you guys cheer every time there is the slightest bump in any numbers. Hell, you don't even care if Trump had any impact on that at all, you still put on those red hats and applaud.
As for abandonment, let's see what happens in 26 days or so.
It would take massive cuts in defense, social security and other social programs. Or default.
Just imagine what will happen when they announce that they need to maintain military operations in over 800 installations in 70 different countries, only to default on Social Security or reduce the payments in half.
Even if they don't cut social security at all, and just freeze the cost of living adjustments for the next ten years, the effect from inflation will put most recipients in the church halls and soup lines.
Trump campaigned on getting out Syria - but he's actually drastically increased military expenditures there, if that has bearing on what we can expect in the future.
The really silly thing is this. Here's your historical perspective on where we are:
Feel free to pat Trump on the back or insist that he didn't do it. I don't really care. Since he took office the DOW Jones has been above 20,000 and trending upwards.
But your anti-Trump media wants to hyper-focus on tiny segments in order to paint a different picture:
Back in February:
And right now:
Truth is, we're on a winning streak. The trade wars have had very little impact. We're still 5,000 points better than the day Trump took office. In the stock world, winning streaks tend to die on their own. I have no idea whether Trump's economy will continue to be so over the moon good for stocks. But opining doom and gloom is nonsensical unless and until we're to a point where Trump has actually handed us a net loss during his presidency -- which is nowhere close to being true.
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