A frequent reader here brought up an excellent point that has been bothering me regarding the amount of spending that we have in our government and our failure as a country to deal with the national debt which is presently almost at $23 trillion. I remember when it was only at $16 trillion and it was a big deal for the Republican platform, and clearly since Trump has been elected, it has not been a priority. Because there were essentially two problems that had been planted in American culture by those who wanted to destroy it for a transfer bail out into the United Nations, which was the strategy all along. The first of those problems was that we were borrowing at a high level to essentially chain us through regulatory compliance to the rest of the world who could then pull our loans and control us as a nation tossing out that pesky Constitution because as a nation we couldn’t afford to live up to it, and the second, we shipped all our jobs overseas so that there would be no way to pay the debt even if we wanted to. When Trump was elected his first method of attacking this problem was to stop the bleeding, which he has done. You can read the comment below:
When is he going to fight to lower spending? I like Trump for the most part. I love that he is pulling us out of Syria. But we cannot continue to spend like this.
Jason E Koslow
I hadn’t yet answered Jason because it required more than a five second answer, due to its very good point. If I know Trump the way I think I know him, which is quite well—I would venture to say that being an optimistic person that he is he plans to tackle this whole problem in the second term of his presidency now that the seeds for a great economy have been planted. And he plans to not do it by cutting, which many Republicans would think of as the first objective, but he wants to do it with growth. That is after all how he personally became a billionaire. In his mind, he plans to do for the country what he did for himself. Growth is the ticket out of debt, and he’s created the foundation to explode that growth.
Then you read his comments about why he couldn’t host the G7 Summit at his Doral golf course due to all the controversy and it brings to mind Jason’s point more succinctly. There are forces in the American government that are quite common, they persist actually into half the country that tend to vote for victimization representation in the form of Democrats. They don’t want to show off the potential wealth of America, they don’t want our billionaire president to show the world that he knows what he’s doing in building Doral. They’d rather the event happen in some government building with limited running water so that other countries not be so seduced by American capitalism. But for Trump that was precisely the point, to inspire more investment and that explosive growth that he has been counting on. And he was obviously disappointed in the small thinking of the press and the Democrats in general. Thinking small is not one of the things Trump has ever been good at and he has no desire to start now.
Under Trump’s next term which he has helped along with deregulatory practices and access to NASA, commercial space travel will become big business. Hyperloop transportation will become common language and the tremendous growth potential of his trade deals and bringing jobs back into the United States will contribute respectfully to the GDP. Then and only then will that clock begin to tick backwards and from my vantage point, it couldn’t happen soon enough. The great risk is that another year of this will put that debt up toward $25 trillion which is a major problem. That huge sum could be paid off with new space mining operations for rare metals. The amount of money that the commercialization of space could generate is stunning, and Trump is counting on those seeds to bloom to cover the debt. But he has to get elected first and for that to work, he has to protect what he has started from Democrats who want to torpedo it for their own future chances.
Which brings us back to why there is a debt to begin with. The Democrats wanted to crash the system, they set all this in place during the Obama administration and for Trump to stop it he would have to turn inward, which would have played into the hands of the Democrats who planted that seed long ago. It was their insurance policy for their own existence. What they didn’t count on was for Trump to come in and turn the ship around and for Republicans to stand behind his “pro-growth” vision. Trump trusts the innovations of the private sector even when they come from his enemies like Jeff Bezos. By getting government out of the way, the private sector could generate many trillions of dollars in additional GDP and that is the plan. But he can’t mess with the economy during an election year and start cutting our way to prosperity. We must grow. You can’t bring reality to people addicted to government services because that would end his election and the prospect for any future growth, so Trump is playing a big round of poker here, and he has a lot of chips on the table.
If it was anybody else, I’d worry. But the way that Trump handled himself personally during the 90s gives me the feeling that he can do it again with the American economy if he has our support. He certainly has my support. He has stopped the bleeding, now for part two, we must build up the blood. I would argue that an operating budget for America needs to be much less. But if we can turn the clock backwards with growth, well then, why not. I personally think there will be enough expanding market emerging in the 2020s to pay off our national debt and get to a positive position by the time we are settling people on Mars. But first the Democrats literally have to be destroyed as an opposition not just in politics, but to economic growth because for them the debt clock was a form of terrorism that was supposed to go off by now, only we elected Trump to bring back all our oversea business and to deregulate ourselves back to a growth based economy. I tend to think that one more election will do the job and free Trump and the supporting Republicans into launching those pro-growth initiatives. But we also must consider that the Democrats know all this and they are set to do anything to survive, and if they could destroy the economy in some way during 2020 to keep Trump from getting re-elected, then their debt clock becomes a driver again, and a means to destroy America and to merge it with a world management system. There is a lot of stake, and nothing that we can take for granted.
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