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Trump: I’ll reduce the national debt by getting creditors to accept less
Hotair ^ | 05/06/2016 | AllahPundit

Posted on 05/06/2016 1:00:04 PM PDT by SeekAndFind

Edited on 05/06/2016 1:41:09 PM PDT by Admin Moderator. [history]

Reminds me of something Mike Murphy said about Trump in the aftermath of Jeb’s collapse. The logic in favor of nominating another Bush was always, er, complicated, but the logic against nominating a loose cannon is straightforward.

I’ll bet even Murphy didn’t think Trump would advertise the possibility that America’s creditors might not receive payment in full in a Trump administration. Choose your own preferred term for what he’s recommending here — renegotiation, bankruptcy, default.


(Excerpt) Read more at hotair.com ...


TOPICS: Foreign Affairs; Front Page News; Government; Politics/Elections
KEYWORDS: 2016election; 2016issues; allahpundit; creditors; debt; doddfrank; eib; election2016; exportimportbank; fairtax; flattax; glasssteagall; hotair; ibtz; nationaldebt; newyork; opus; seekandfindagain; taxcuts; taxreform; tdsregrouping; trump
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To: SeekAndFind

I still think that one of the best favors the incoming administration could do is revise the last two decades of financial figures, such as unemployment, to the way they were calculated before Bush and especially Clinton gamed the system.


41 posted on 05/06/2016 2:04:47 PM PDT by Ingtar (79.7% del allocated. Trump 80.7% of required for nomination 45.7% of remaining needed 4/29)
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To: SeekAndFind

Oh, I guess I should update my tag line in that vein.


42 posted on 05/06/2016 2:06:48 PM PDT by Ingtar (82% del allocated. Trump 85.5% of required for nomination 40.5% of remaining needed 5/6)
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To: House Atreides
Come on Donald, don’t blow it now! America is not Argentina.

Foreign nations will accept a lesser return in payment for the USA footing the majority of the bill to defeat the Commies. Your welcome.

China will accept a lesser return as a fine for their cheating.

43 posted on 05/06/2016 2:15:38 PM PDT by Trumpinator ("Are you Batman?" the boy asked. "I am Batman," Trump said. youtube.com/watch?v=HZA9k7WAuiY)
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To: Publius

Which is what we should have done years ago, and what would have happened if Cruz had his way, except it would have been a significant “partial” default.


44 posted on 05/06/2016 2:19:20 PM PDT by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: MeanWestTexan

“Wow, so much for US T-bills being a safe place to park money.”

Yeah, a Mason jar buried in the backyard is the new “safe space.”


45 posted on 05/06/2016 2:19:35 PM PDT by PLMerite (Compromise is Surrender: The Revolution...will not be kind.)
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To: SeekAndFind

No, wouldn’t cause inflation in the least. We are in a mass deflationary mode. QE1 and QE2 didn’t even move the dials.


46 posted on 05/06/2016 2:22:45 PM PDT by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: SeekAndFind

There are countries that owe us money from before 1900. Subtract these types of monies from what we remit. Be sure to include interest.


47 posted on 05/06/2016 2:25:21 PM PDT by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
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To: Tax-chick

No, subtract what debts we are owed, with interest, from what we allownto be remitted.

I believe a lot of countries have money they owe us, going back as far as 230+ years.


48 posted on 05/06/2016 2:27:55 PM PDT by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
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To: madison10

bingo


49 posted on 05/06/2016 2:34:22 PM PDT by DEEP_e
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To: EQAndyBuzz
Tell every commie country and country that hates us to piss off, we are not repaying.

Most of the U.S. national debt is held by U.S. citizens. Is Trump going to default on U.S. Savings Bonds?

50 posted on 05/06/2016 2:35:53 PM PDT by Lurking Libertarian (Non sub homine, sed sub Deo et lege)
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To: DannyTN

Greece runs trade deficits because they don’t produce anything. It’s a virtual tourist economy.


51 posted on 05/06/2016 2:35:58 PM PDT by Snowybear
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To: PrairieLady2
"I’m sure as time goes on that we’ll find out all sorts of nasty deeds we know nothing about right now."

Exactly!  This is one of the reasons that political and corporate elites, and some countries are afraid of Trump.

 

52 posted on 05/06/2016 2:36:13 PM PDT by OneHun
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To: SeekAndFind

That’s a bit extreme even for me, but he might just be throwing it out there in order to move the center of gravity in the negotiating process.


53 posted on 05/06/2016 2:37:28 PM PDT by Behind the Blue Wall
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To: Snowybear

They don’t produce anything because they ran trade deficits. They allowed imports to destroy their industries, just like the US is doing.


54 posted on 05/06/2016 2:38:57 PM PDT by DannyTN
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To: Publius
This is not a good idea. Exactly whom is he going to short-change? Americans who own t-bills (via all kinds of investment vehicles) make a huge portion of the investors.

And, he seems to be missing some information here. Perhaps too much time negotiating from his side of the table leveraging debt for real estate? The government can basically replicate as much currency as it wants at zero cost. That too comes with peril, but there is really no reason to even talk about renegotiating our debt when it can basically be paid off with the push of a button. Perhaps in the end its the same effect as inflation should cause loss of buying power. In some ways the FedRes has already done that by squashing interest rates, and QE. And that has already come at a cost to savers and those rolling their notes over. But a benefit to those in debt!

55 posted on 05/06/2016 2:42:29 PM PDT by monkeyshine
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To: SeekAndFind

IMHO we should default on all our debt before we cut one dollar of Social Security. After all, those people bought bonds voluntarily, knowing the financial situation the country is in. SS recipients OTOH had no choice, our money was taken involuntarily in exchange for specific promises. Our claim is superior.


56 posted on 05/06/2016 2:45:58 PM PDT by Hugin (Conservatism without Nationalism is a fraud.)
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To: monkeyshine
And that has already come at a cost to savers and those rolling their notes over. But a benefit to those in debt!

What's the difference between sucking the value out of your retirement savings with a printing press and seizing it outright (other than being up-front about the fact that you're getting screwed)?

57 posted on 05/06/2016 2:46:16 PM PDT by tacticalogic ("Oh bother!" said Pooh, as he chambered his last round.)
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To: SeekAndFind

The problem with your answer is that you are using facts and logic. Facts and logic are irrelevant to the people you are trying to convince.


58 posted on 05/06/2016 2:48:39 PM PDT by norwaypinesavage (The Stone Age did not end because we ran out of stones)
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To: Lurking Libertarian

“Most of the U.S. national debt is held by U.S. citizens. Is Trump going to default on U.S. Savings Bonds?”

No.


59 posted on 05/06/2016 3:21:08 PM PDT by EQAndyBuzz (United we stand, divided we fall. I think the establishment has divided us enough.)
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To: SeekAndFind
If the cure is to default on our debts, be prepared for soaring interest rates and a devalued dollar. It would undermine confidence in the world’s most trusted financial asset — our currency.

There's no reason to default unless interest rates have already soared. If they do debt service will cost trillions every year.

Default will happen when there's no other choice. It will happen. It's much easier than raising taxes or cutting spending enough to stop it from happening.

60 posted on 05/06/2016 3:38:27 PM PDT by MaxFlint
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