bgr3 said:
caryking said:
Other than people just not liking Trumps mouth, where did his policies fail?
He ran on the (correct) idea that the current economy "is a big fat ugly bubble" propped up by the Fed and cheap money. Upon becoming president he took credit for said bubble and browbeat the Fed about keeping easy money and expanding it. The bubble is now much bigger (and the inevitable crash will be worse) as a result.
I don't blame him for having that view of debt considering his background in real estate, debtors like inflation because it drives down the real value of their fixed debts. It's a political calculation because taking away the punch bowl of cheap money will cause economic pain in the short term but the difference between a politician and a statesman is the ability and willingness to do the right thing in face of political pressure. For all of the things about Trump I appreciated, he failed in that respect IMO.
bgr3, I agree with this. That being said, I don't have problems with manageable debts. What we are doing, year after year, is adding significantly to our debt through our yearly deficit. We have to balance the budget yearly. This should be done by cutting spending, not increased taxes, per se... right now, congress is proposing another ~ 6T in spending. Why? Pet projects and to pump up the economy prior to 2022! We could fall off the cliff, if this is passed!
Yes, the Federal Reserve is keeping interest rates artificially low; however, printing money is a huge problem. The value of the dollar is 20% of itself since we got off the gold standard. I don't know how to get us back on the gold standard; however, we have to figure it out. #1, it's constitutional. #2, with the gold standard, if congress wants to print more money, they have ask the people.
Regarding Trump's policies, the single most important thing he did was the reduction in regulations! Regarding taxes, we need another massive change. I would propose a flat tax, for everyone; however, quit taxing business. The amount of shenanigans CFO's have to do is ridiculous. We should Re-write campaign contribution laws that would stop businesses from contributing to campaigns (remember citizens United).
Also, what really is quantitative easing? It's printing money, thus devaluing the dollar!!
On the illegal or criminal immigrants…
“they built the country, the reason our economy is growing”
Joe Biden
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