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So you think the US $35 trillion debt is not a problem and Trump's cost cutting is?

mindslight 2y ago
As a student of Austrian economics and a proponent of actual fiscal conservatism, correct. The United States is monetarily sovereign and controls the world reserve currency. The biggest threat to our country is a loss of faith in the United States as a world leader, which Trump is doing his damnedest to facilitate.
mcphage 2y ago
Well, the first thing is, he actually needs to cut costs. Which he has not.
shepherdjerred 2y ago
Who is going to make America pay when it is dominant? Alternatively, what is America going to do when nobody respects it anymore? The US is in a much better position with debt and power than it will be net zero and ostracized
- whamlastxmas 2y ago
  If American defaults on its debt it would absolutely destroy the economy. This is a really weird take
  - mindslight 2y ago
    Yes, a national default on debt would be a terrible thing. Most American debt is denominated in USD. The US is monetarily sovereign, meaning it can always create more USD at will. This means that the US can only default on its debt voluntarily, which is exactly the type of economic catastrophe that Trump is doing his best to cause.
  - shepherdjerred 2y ago
    I'm not saying the US should default on the debt, just that it never, in practice, actually has to pay it back.
josefresco 2y ago
Trump has added 7.1 trillion in debt, more debt than any other president in history. Source: https://www.investopedia.com/democrats-vs-republicans-who-had-more-national-debt-8738104 https://www.investopedia.com/democrats-vs-republicans-who-ha...
- assimpleaspossi 2y ago
  So who added the additional $28 trillion dollars? (Assuming what you say is true.)
  - wraaath 2y ago
    It's in the link above, but in text format for those not willing to click: (source was from the US treasury department bureau of fiscal service) Deficit under administration of: Republicans: Trump: +7.1T HW Bush: +2.2T W Bush: +2.1T Reagan: +1.7T Ford: +781.2B Hoover: +246.4B Nixon: +7.2B Democrats: Obama: +5.6T Biden: +2.8T FDR: +1.3T Clinton: +614.4B JFK +194.8B Wilson: +191.9B The rest of the presidents (D/R) - had net reductions in deficit.

As a student of Austrian economics and a proponent of actual fiscal conservatism, correct. The United States is monetarily sovereign and controls the world reserve currency. The biggest threat to our country is a loss of faith in the United States as a world leader, which Trump is doing his damnedest to facilitate.

mcphage 2y ago

Well, the first thing is, he actually needs to cut costs. Which he has not.

shepherdjerred 2y ago

Who is going to make America pay when it is dominant? Alternatively, what is America going to do when nobody respects it anymore? The US is in a much better position with debt and power than it will be net zero and ostracized

whamlastxmas 2y ago
If American defaults on its debt it would absolutely destroy the economy. This is a really weird take
- mindslight 2y ago
  Yes, a national default on debt would be a terrible thing. Most American debt is denominated in USD. The US is monetarily sovereign, meaning it can always create more USD at will. This means that the US can only default on its debt voluntarily, which is exactly the type of economic catastrophe that Trump is doing his best to cause.
- shepherdjerred 2y ago
  I'm not saying the US should default on the debt, just that it never, in practice, actually has to pay it back.

josefresco 2y ago

Trump has added 7.1 trillion in debt, more debt than any other president in history. Source: https://www.investopedia.com/democrats-vs-republicans-who-had-more-national-debt-8738104 https://www.investopedia.com/democrats-vs-republicans-who-ha...

assimpleaspossi 2y ago
So who added the additional $28 trillion dollars? (Assuming what you say is true.)
- wraaath 2y ago
  It's in the link above, but in text format for those not willing to click: (source was from the US treasury department bureau of fiscal service) Deficit under administration of: Republicans: Trump: +7.1T HW Bush: +2.2T W Bush: +2.1T Reagan: +1.7T Ford: +781.2B Hoover: +246.4B Nixon: +7.2B Democrats: Obama: +5.6T Biden: +2.8T FDR: +1.3T Clinton: +614.4B JFK +194.8B Wilson: +191.9B The rest of the presidents (D/R) - had net reductions in deficit.