Trump just soft-launched higher inflation as the new solution for rebalancing $40 trillion national debt

“You know, inflation, certain levels of inflation, will also pay off that debt very rapidly. Very rapidly.”

BillionaireStew 9 points 10 days ago

As a candidate, Donald Trump pledged to balance the federal budget and lower the national debt, promises that are proving difficult to keep.

Once he won, Trump considered an unusual approach that was quickly slapped down by his chief economic advisor, according to veteran journalist Bob Woodward’s new book, “Fear: Trump in the White House,” which went on sale Tuesday.

“Just run the presses — print money,” Trump said, according to Woodward, during a discussion on the national debt with Gary Cohn, former director of the White House National Economic Council.

“You don’t get to do it that way,” Cohn said, according to Woodward. “We have huge deficits and they matter. The government doesn’t keep a balance sheet like that.”

Cohn was “astounded at Trump’s lack of basic understanding,” Woodward writes.

https://www.cnbc.com/...

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Carrots 5 points 10 days ago

And yet he was elected twice. I’d say he’s the average Joe in America

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eldavi 1 point 10 days ago

i suspect he's actually smarter than them given that this class and position give him access to knowledge and professionals that the average joe will refuse to accept.

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BillionaireStew 1 point 10 days ago

I consider that a stretch given he ran for president four times and won the popular vote at most once.

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