General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhen the Con was campaigning he attacked Janet Yellin and President Obama
Over interest rates and the national debt.
Can DUers tell me how much the national debt has increased since Don the Con took charge?
https://www.cnbc.com/2016/09/12/trump-says-fed-chief-yellen-should-be-ashamed.html
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GOP presidential nominee Donald Trump told CNBC on Monday the Federal Reserve is doing what President Barack Obama wants by keeping interest rates low.
Fed Chair Janet Yellen and central bank policymakers are very political, and Yellen should be "ashamed" of what she's doing to the country, Trump said, adding the Fed is not even close to being independent.
By keeping interest rates low, the Fed has created a "false stock market," Trump argued in a wide-ranging interview in which he also talked about Democratic nominee Hillary Clinton's health problems.
Trump said rates are being kept lower to bolster Obama's legacy. "Any increase at all will be a very, very small increase because they want to keep the market up so Obama goes out and let the new guy ... raise interest rates ... and watch what happens in the stock market."
Doubting whether rates would change while Obama remains in office, Trump said: "[Obama] wants to go out. He wants to play golf for the rest of this life. And he doesn't care what's going to happen after January."
N_E_1 for Tennis
(9,781 posts)At first, it seemed Trump was lowering the debt. It fell $102 billion in the first six months after Trump took office. On January 20th, the day Trump was inaugurated, the debt was $19.9 trillion. On July 30, it was $19.8 trillion, a decrease of $102 billion. But it was not because of anything he did. Instead, it was because of the federal debt ceiling.
Once the debt ceiling was raised, it passed two milestones during Trumps first two years in office. On September 8, 2017, he signed a bill increasing the debt ceiling. Later that day, the debt exceeded $20 trillion for the first time in U.S. history. On February 9, 2018, Trump signed a bill suspending the debt ceiling until March 1, 2019. On March 15, 2018, the debt exceeded $21 trillion. The debt will continue to increase until the 2019 deadline. The Committee for a Responsible Federal Budget estimates it could be $22 trillion by then.
If so, Trump will have overseen the fastest dollar increase in the debt in just three years.
Trump's deficits for his first four years will total $5.6 trillion. It's almost as much as Obama added in two terms while fighting a recession. Trump has not fulfilled his campaign promise to cut the debt. Instead, he's done the opposite.
malaise
(269,176 posts)N_E_1 for Tennis
(9,781 posts)Enjoy the day.