Armstrong Economics Blog/Economics
Re-Posted May 2, 2018 by Martin Armstrong
QUESTION: You ignore that Trump will create a deficit of a trillion in one year with his tax cuts for the rich. What do you have to say about that one!
ANSWER: So what? Obviously, you probably are a CNN watcher. They never said anything about Obama who created the first trillion deficit and maintained that throughout his presidency between 2009 to 2012. What does it matter? Nobody ever intends to pay it back. Just in case you just noticed, that is the least of our problems. Try talking about the Pension Fund Crisis that will hit all the people directly. The Trump deficit will put money back into the economy directly whereas the Obama deficits were never something that actually stimulated the people directly. It was like Quantitative Easing – welfare for the bankers, not the people.