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The President & the Executive Branch Discuss In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased Deb at the Political Forums; Originally Posted by FrancSevin Sur-ya did. I guess since the media didn't hype the crisis as they did with Obama ...

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Old 03-19-2017, 10:04 PM
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Default Re: In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased

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Originally Posted by FrancSevin View Post
Sur-ya did.

I guess since the media didn't hype the crisis as they did with Obama and the GOP reluctance, they now have to make up something. Accounting tricks, yeah that's it.

Here's a novel idea. We don't have the money, so don't spend it. Or is that a nefarious accounting trick?
Don't know what to tell Franc people keep on buying treasury bonds and our GDP is 18 + trillion dollars so I do not think it is a bad risk
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Damn shame it couldn't have been a father / son event. IMHO.
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Old 03-20-2017, 07:19 AM
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Default Re: In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased

What makes this feat by Trump even more impressive is the train wreck economy and jobs numbers he was left with courtesy of Obama.
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Old 03-20-2017, 07:35 AM
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Default Re: In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased

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Originally Posted by winston53660 View Post
Don't know what to tell Franc people keep on buying treasury bonds and our GDP is 18 + trillion dollars so I do not think it is a bad risk
Clearly you don't know what..........

Hitting the debt ceiling means the Government cannot sell T-Bills. So, no one is able to buy new T's . You might... check your information source.

And as for the GDP at $18 Trillion that means it is $2 Trillion below our Debt. What is that called when you debt exceeds your income AND your assets?

So yeah, ya don't know what..... because you refuse to see. I'll cut you some slack and blame it on Political Presbyopia?

President Trump, if nothing else, knows how to read a balance sheet and a P/L statement. He talked about this very subject when he first considered a run for POTUS.

He campaign on it and it is a promise he is keeping.
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Old 03-20-2017, 03:14 PM
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Default Re: In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased

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Originally Posted by FrancSevin View Post
Clearly you don't know what..........

Hitting the debt ceiling means the Government cannot sell T-Bills. So, no one is able to buy new T's . You might... check your information source.

And as for the GDP at $18 Trillion that means it is $2 Trillion below our Debt. What is that called when you debt exceeds your income AND your assets?

So yeah, ya don't know what..... because you refuse to see. I'll cut you some slack and blame it on Political Presbyopia?

President Trump, if nothing else, knows how to read a balance sheet and a P/L statement. He talked about this very subject when he first considered a run for POTUS.

He campaign on it and it is a promise he is keeping.
Trump's tune is changing:

But Trump’s views appeared to have changed now that he’s president and would have to deal with the ramifications of a default. Treasury Secretary Steven Mnuchin “will work with Congress on a path forward,” White House Press Secretary Sean Spicer said this week.

and:

A 2011 standoff in which the limit wasn’t raised until the last minute caused Standard & Poor's to downgrade the nation's AAA credit rating for the first time. The delay in raising the limit caused the Treasury to pay an additional $1.3 billion in borrowing costs for that year alone, according to the Government Accountability Office.

Further:

To avoid lawmakers voting to set a specific debt level — one that includes lots of zeroes — congressional leaders the past few years have advanced bills that simply suspended the limit for a period of time. At the end of that period, the debit limit automatically reset at the level of total outstanding federal government debt.

Congress used that strategy in the Bipartisan Budget Act approved in November 2015. It suspended the debt limit until Wednesday.

The U.S. hit its debt limit again. Now the Treasury Department is maneuvering to avoid a default until Congress acts - LA Times
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Originally Posted by TiredRetired View Post
Damn shame it couldn't have been a father / son event. IMHO.
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