In the highly unlikely event Donald means what he says, massive recession is the least of our worries. As a strong second amendment supporter, take that for whatever you think it means, in a rural environment I'll do my best to survive the elimination of most if not all social programs, most importantly social security and medicare, but the others as well.
Of course we both know, I hope, that this is just so much pandering to what he thinks are the masses.
All Trumps defects I'd prefer him to Hillary, so I hope the "masses" he's inspiring get him 270 electoral votes.
And what if the Fed buys up all that domestically held T-Bill debt ? The government will still owe it, but at 0% interest and much smaller principal payments it becomes just a meaningless number on the Fed’s books. The Fed creates the money out of nowhere and the principal payment is a huge income stream as it is paid down. The domestic investors will be made whole and now have a $13T wad of cash to invest in stocks, corporate bonds, or whatever. Shouldn’t all that investment — coupled with the repatriated $2T corporate profits — cause a huge increase in GDP and therefor a big increase in tax revenues ? Especially when imports have become more expensive due to tariffs and American manufacturing is more attractive ?
BTW, $2T in cuts is possible without touching the military or SS/M or veteran’s benefits. EVERYTHING else would need to be eliminated, and that is not reasonable, but cutting $1T at first and then a little more each year while the tax revenues increase from a growing economy could generate a $2T/yr surplus or more over eight years.
You may not like what Trump is proposing, but Cruz isn’t even talking about the debt.
We are sliding off a fiscal cliff and something needs to be done.
There’s only one candidate willing.