Posted on 03/09/2017 12:57:56 PM PST by 2ndDivisionVet
It's all fun and games until the borrowers realize they won't be made whole and start dumping their bonds.
Excuse me, I meant lenders, not borrowers. We’re the borrower.
It wasn’t just $800 billion. That amount was built in to the continuing resolutions every year since.
I support a $1 Trillion target with no more than $200 Billion coming from the government directly. That money can then be used to leverage state, local and private funding toward infrastructure priorities. Roads, bridges, sewers, water, electricity &, network infrastructure.
Projects should be priority based and not just block funded to states based on population. No reason California gets funding based on its population rather than Wyoming for roads, bridges etc. Very clear guidelines on how money can be spent. No funding for new Transportation administrative headquarters built with infrastructure spending for instance. No redirecting by state to boondoggles like bullet trains and massive solar and wind projects.
For Obama, his alleged “infrastructure bill” was just a gigantic slush fund for his friends, where very little infrastructure repair/buildup was actually done.
Pubs know that Trump, in particular in light of his extensive building trade lifetime of experience, will actually accomplish what he sets out to do, for the betterment of the American people. What better person than Trump to be heading up an infrastructure prioritized program that will REALLY get what needs to be done, done.
Only catch is every finished project will be named Trump, lol. Trump bridge, Trump sewer system, Trump canal, etc. etc. Fine by me.
NO!
I fully believe President Trump can cut a trillion dollars out of the budget over four years, so a trillion dollar infrastructure bill, if they are good productive investments, would be easy to afford without getting into more debt. If we grow the economy at 4% four eight years without substantially getting into more debt, we can pay it off with much less pain.
Currently, we spend almost half a trillion dollars each and every year on interest on the national debt (about 487B last I heard, could be off a few billion here and there!). That expenditure doesn’t touch the principal.
Personally, I am not in the camp that thinks we can’t do better...
That said, yes we need to improve/maintain our nation’s essential infrastructure. But let’s do it in a way that doesn’t increase the national debt. That’s Obama’s and the Democrats’ way. There are more responsible ways to do it in my opinion.
You can’t borrow from “the future,” or from “our children and grandchildren,” no matter what sloppy thinkers think.
As Hayek and Mises said, WWII was fully paid for the instant the last bullet was fired. In other words, all government spending makes somebody poorer, whether it’s for war, bridges, schrools, anything. And it makes people poorer NOW, not ten, fifty, or a hundred years from now.
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