Trump just soft-launched higher inflation as the new solution for rebalancing $40 trillion national debt

5 comments

• resipsaloquitur0

  You can solve the national debt by not issuing bonds. They're unnecessary in a fiat currency.

• BillionaireStew7via usa@lemmy.ml

  As a candidate, Donald Trump pledged to balance the federal budget and lower the national debt, promises that are proving difficult to keep.

  Once he won, Trump considered an unusual approach that was quickly slapped down by his chief economic advisor, according to veteran journalist Bob Woodward’s new book, “Fear: Trump in the White House,” which went on sale Tuesday.

  “Just run the presses — print money,” Trump said, according to Woodward, during a discussion on the national debt with Gary Cohn, former director of the White House National Economic Council.

  “You don’t get to do it that way,” Cohn said, according to Woodward. “We have huge deficits and they matter. The government doesn’t keep a balance sheet like that.”

  Cohn was “astounded at Trump’s lack of basic understanding,” Woodward writes.

  https://www.cnbc.com/2018/09/11/trump-once-considered-just-printing-money-to-lower-the-national-debt-woodward-reports.html

  • Carrots5

    And yet he was elected twice. I’d say he’s the average Joe in America

    • eldavi1

      i suspect he's actually smarter than them given that this class and position give him access to knowledge and professionals that the average joe will refuse to accept.

• ☂️-2via usa@lemmy.ml

  good. destroy the empire from within.