casinterest wrote:Trump is abandoning deficit control. Wants to be known for the HUUUUUUGGGGGGGEEEESSSST deficits.
http://abcnews.go.com/Politics/wireStor ... r-53011637
"Instead, the new budget deal and last year's tax cuts herald the return of trillion dollar-plus deficits. Last year, Trump's budget predicted a $526 billion budget deficit for the 2019 fiscal year starting Oct. 1; instead, it's set to easily exceed $1 trillion once the cost of the new spending pact and the tax cuts are added to Congressional Budget Office projections"
Let's be honest here for a second... Trump doesn't know what he's doing. He barely has a clue about how the economy works. In fact, he can barely keep a business up without ruining it or without assistance from the Russian mafia.
He's a maleable lump of clay in the hands of those who surround him, themselves controlled by the corporate interests and lobbies who fund them.
He's taking a fast growing economy riding on the trail of loose monetary policy and instead of consolidating and stabilizing it through measured rate hikes and tightened regulations, he is cutting it loose and letting it redline, at the joy of the corporate world which will gain immediate profits, but at the expense of just about everyone else who will suffer the compounding effects of inflation, massive debt increase and likely currency devaluation.
There is no thought, reason or long term planning on behalf of Trump or anybody on the current government. Just the Wall Street types he filled it with pushing him to open the taps as far as they go in order for them to maximize tomorrow's gains. Let the riffraff pay for the ensuing damage, they always do anyway...