Podcast - Ep 310 - Trump Sold Us Out
It doesn't come as a surprise to me, but I know enough people who actually bought into the Trump fanboy rhetoric. I did myself the pleasure of re-watching the first Republican presidential debate from back in 2015. In it, candidate Trump spoke about the national debt, and the need to fix the problem FAST. But he isn't a candidate anymore - now he's in office. Just like the rest, he's pushing for the status quo.
A deal has been struck with the leaders of the Democratic party - Chuck Schumer and Nancy Pelosi - to raise the debt ceiling and pass an "emergency" spending bill for hurricane relief. Instead of perhaps moving money from one bloated sector of government to the needed area, FEMA, they'll just borrow more.
Trump's hand picked Treasury Secretary, Steve Mnuchin, is also proposing a new plan to automatically raise the debt ceiling any time Congress increases future spending. This would leave no opportunity to debate about budgetary reform. Trump himself is open to the idea of just completely abolishing the debt ceiling altogether.
What gets me most is how many otherwise thoughtful people are blind to the realities of deficit spending. Debts today are taxes tomorrow. A budget that is out of control is a government that is out of control. One check that Congress has in it's power is the debt ceiling, but they're about to give it all away. This, at least in my eyes, could be loss of any hope that America will ever get its finances in order and avoid an economic meltdown.
On the plus side, the national debt and gold prices has a 90%+ correlation... Ha!
Check out the latest podcast here - http://www.preusspodcast.com/featured/ep-310-trump-sold-us/
Yes he sold us out. I was always a Cruz fan but with the ever growing Fake News and conservative censorship everywhere I quickly moved to support him. But now........ WTF?
He has likable qualities - taking on the fake news, in particular. The policies themselves though just make me feel like it's all more of the same. Invest in crypto, metal, and consider moving at some point. That's the plan.