Great news...no national debt in 8 years.

The national debt is 19 trillion dollars. The federal budget is 4 trillion dollars. Math is not his strong subject. In the article, he also seems to be confusing trade deficit with national debt. "Renegotiating our trade deals" would help pay down the debt??? Trump is a moron.
 
http://www.nbcnews.com/politics/201...tional-debt-sell-government-n549946?cid=sm_tw

As president, Donald Trump would sell off $16 trillion worth of U.S. government assets in order to fulfill his pledge to eliminate the national debt in eight years, senior adviser with the campaign Barry Bennett said.

"The United States government owns more real estate than anybody else, more land than anybody else, more energy than anybody else," Bennett told Chris Jansing Sunday on MSNBC. "We can get rid of government buildings we're not using, we can extract the energy from government lands, we can do all kinds of things to extract value from the assets that we hold."
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Guard Dad said:
If I believed it, I'd support him.
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Heck, if I believed he could eliminate the debt in 8 years while also lowering taxes, expanding the military, and not touching entitlements, I'd not only vote for him and support him, I would turn my truck into a mobile Trump billboard.
 
cptlo306 said:
Heck, if I believed he could eliminate the debt in 8 years while also lowering taxes, expanding the military, and not touching entitlements, I'd not only vote for him and support him, I would turn my truck into a mobile Trump billboard.
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I soooooooo want to see that! :p
 
I'm glad to see someone thinking outside of the Tax/Cut Tax box. If you’re in debt up to your eyes and the revenue stream isn't covering your expenses, you cut expenses where you can and you liquidate assets. The Fed has anywhere from $125 to $150 Trillion in assets. Every four years we hear the same crap from both sides and nothing has ever changed. On a side note.... a republican stacked house and senate resided over yet another increase to the debt.

- Jamie
 
Jamie Weaver said:
I'm glad to see someone thinking outside of the Tax/Cut Tax box. If you’re in debt up to your eyes and the revenue stream isn't covering your expenses, you cut expenses where you can and you liquidate assets. The Fed has anywhere from $125 to $150 Trillion in assets. Every four years we hear the same crap from both sides and nothing has ever changed. On a side note.... a republican stacked house and senate resided over yet another increase to the debt.

- Jamie
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Those numbers are eronious, and include the entire estimated lifetime worth of potential oil and gas leases onshore as well as offshore. The BEA was tasked with estimating the true market value of all of the land it owns, and came up with an audited number of $10.8 trillion. Add that to the recently reported balance sheet that included everything else from bullets to the presumed value of student loan receivables, and you get a total gross worth including real property of $14 Trillion dollars. With a gross debt of $19 trillion, $14 trillion of which is publicly owned, the US Government could easily declare bankruptcy if it were a corporation. Trump's numbers and his ideas are total hogwash.
 
lotstodo said:
Those numbers are eronious, and include the entire estimated lifetime worth of potential oil and gas leases onshore as well as offshore. The BEA was tasked with estimating the true market value of all of the land it owns, and came up with an audited number of $10.8 trillion. Add that to the recently reported balance sheet that included everything else from bullets to the presumed value of student loan receivables, and you get a total gross worth including real property of $14 Trillion dollars. With a gross debt of $19 trillion, $14 trillion of which is publicly owned, the US Government could easily declare bankruptcy if it were a corporation. Trump's numbers and his ideas are total hogwash.
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I can't attribute those numbers to Trump campaign. Those numbers were taken off a 2013 Times article
http://business.time.com/2013/02/05...on-stockpile-the-answer-to-our-debt-problems/
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a Forbes article
http://www.forbes.com/sites/timwors...ely-not-16-trillion-in-the-hole/#447abf142293
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.

Your more than likely correct, 8 years to payoff the deficit is indeed a fabulous proposal and plenty of folks are calling it bunk.

- Jamie
 
Here's the problem...

Between actual employees of the federal government, everyone getting an entitlement check from them, and businesses who depend on federal government contracts; if we cut spending too fast, so many jobs and incomes will be lost that it will throw us into the mother of all depressions. Then federal tax revenues tank and put us into an even deeper deficit.

To get out of this, we need to carefully cut spending, but the real key is growing the economy. We have to make the pie bigger so we can increase tax revenues by other means than just raising taxes.

Here's something for you guys to ponder and allow to sink in. Only 43% or the US people earn a paycheck. And that includes government employees.

I've been called negative and accused of spreading doom and gloom on another site. Someone please tell me how the current course we're on is sustainable?
 
No debt in 8 years? What? Are we going bankrupt? A true fix is going to be painful, and it wouldn't be pretty. I did hear someone say that if we reach 50 trillion in national debt, it's over.
 
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