The US Government Hits Its Debt Target (Ceiling) Again As Trump Has No Plan To Reduce Size of Government
The US Government Hits Its Debt Target (Ceiling) Again As Trump Has No Plan To Reduce Size of Government by Jeff Berwick
Many people fell for Donald Trump’s pre-election promises, but we warned there would be no major changes made and that Trump was an elite insider.
How right we were.
Here was a list of his biggest promises and how he has already backtracked on all of them:
Putting Hillary Clinton in jail.
- This was a big one for a lot of people as Killary is a massive criminal. But, within seconds of being elected, Trump reminded people of their decades long friendship and said that he would not be going after Hillary because the Clintons “are good people”.
- So much for that, Trump made a few minor tweaks and it essentially remains the same.
Building a wall across a continent and making Mexico pay for it.
- Forgetting for the moment that this wall would be a testament to stupidity and it, and Trump’s other protectionist measures, would destroy the US economy and US dollar… and that the wall is probably to keep Americans in at some point and that immigration from Mexico to the US is at a 40 year low. Forgetting all that, Trump actually plans to tax Americans twice for it. Once in the form of billions of dollars in expenditures to build the wall over decades and another in the form of charging Americans 20% more to buy Mexican products (which is mostly in the form of food and petroleum).
And, many people assumed that when Trump said he was going to drain the swamp, reduce the size of certain government departments and reduce regulation, that he was going to reduce the size of government as a whole.
Nope, not at all. Trump has just come out with his budget and it puts the US government into just as much debt as Obama did.
This is from Trump’s budget:
The core of my first Budget Blueprint is the rebuilding of our Nation’s military without adding to our Federal deficit. There is a $54 billion increase in defense spending in 2018 that is offset by targeted reductions elsewhere. This defense funding is vital to rebuilding and preparing our Armed Forces for the future.
Notice he says it won’t increase the size of the “deficit”. This is not the same as the debt. What it means is that he will still put the federal government into hundreds of billions of dollars per year more debt… but he won’t increase the amount he is putting it in debt over what Obama did.