• Will Trump Eventually Deal With The Deficit?

    February 11, 2020
    5 Comments
    Will Trump Eventually Deal With The Deficit?

    This week The White House released a budget blueprint that cuts the rise in domestic spending in favor of increases for NASA, continuing to build the wall on the southern border, the military and other national security priorities. The outline also includes further individual tax cuts.

    Budget deficits under the Trump administration remain large; although, POTUS declared he wants a balanced budget within 15 years. This year's deficit will be approximately $1 trillion.

    Of course, Trump was handed a bad situation, with many existential problems that had to be rectified. Therefore, he is spending money to do just that. Rebuilding the military to keep us safe is one of those priorities. In other words, national security has to be 'secured' so we keep our country in the first place.

    Another area where funding is critical is America's infrastructure, which has fallen behind the rest of the world, and in many cities is downright embarrassing.

    This scenario didn't happen overnight, it has been building over the decades under irresponsible administrations on both sides of the aisle.

    So will Trump, the self-styled king of debt, ever actually tackle the debt issue?

    I think the key is re-election and the second term.

    What The Donald understands very well is we can't 'cut' our way out of this hole. Although, we can cut enough to stop making the hole deeper. This will take political will -- which only the first two years after a presidential re-election can provide, with a conservative Congress of course.

    Trump also understands that economic growth is the only way out of this mess. This is why he is so hyper-focused on getting the economy growing as fast as we can...more economic transactions create more tax revenue. Trump's de-regulation drive was critical to this effort. Now that impeachment is over (and we fully expect peach mint 2.0), The White House can focus on juicing our GDP numbers.

    I do believe that the deficit, and our mounting sovereign debt, are on the 'king of debt's' mind. Trump is nothing if not an 'out of the box' thinker.

    With high economic growth numbers in the second term, and a focus on cutting spending, we have a chance on getting on the right fiscal path. If Trump can't take us there, then no one can.

    But, he cannot do it all in two terms; the mountain of things that needed fixing was just too big. It will be up to us to elect leaders who will continue down the fiscally responsible brick road.

    This is why the impeachment charade was so reckless and dangerous -- it took time and energy away from dealing with the real problems. But, that was the goal of the seditious Left all along.

    Author

    L Todd Wood

    L Todd Wood, a graduate of the U.S. Air Force Academy, flew special operations helicopters supporting SEAL Team 6, Delta Force and others. After leaving the military, he pursued his other passion, finance, spending 18 years on Wall Street trading emerging market debt, and later, writing. The first of his many thrillers is "Currency." Todd has been a national security columnist for The Washington Times and contributed to One American News, Fox Business, Newsmax TV, Moscow Times, Novaya Vremya (Ukraine), the New York Post, National Review, the Jerusalem Post, Zero Hedge and others. He is also founder/publisher of CDM. For more information about L. Todd Wood, visit LToddWood.com.
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    Matthew M

    one thing to keep in mind, trump's last 2 budget proposals were actually net washes, both got shot down in the house by a 3 to 1 margin, the senate took up on trump budget and it was shot down 75-24.......... our bigger problem is congress, not trump...... trump can propose everything til he's blue in the face and perhaps bring a few people around....... its our responsibility to turn over congress to the point of giving him real support to pass such budgets. Right now, WE havent voted in a fiscally responsible congress, either side of the aisle.

    If you think trump alone can change the minds of 80 plus people with an alternative agenda and a means to enact it, then we are relying solely on too few people to represent us....... its time to hold our representatives responsible, top to bottom.

    Alej

    " Right now, WE haven't voted in a fiscally responsible congress, either side of the aisle."

    And "we" never will, given the execrable lack of voter qualifications in America . Stupid, worthless people vote for stupid worthless representatives. Universal suffrage is the terminal cancer of the Republic.

    Truth Defender

    It has been the Uni-Party elites pilfering the national treasury for generations now, so Trump is smart not to try to cut SS and Medicare now. Rather, after re-election, Trump should cut way back on the useless gubmint bureaucracy and the pork sausage that is stuffed into every nook and cranny of the federal budget that the Uni-Party cronies gorge themselves on. Maybe in his last year he can come up with a plan for SS and Medicare.

    odys

    Record tax revenue! Spending is the problem and who is in charge of spending and what has she been spending her time on?

    Robert Moran

    Cut spending? Hit the Debt Clock link. This Final Year: US FEDERAL BUDGET DEFICIT (ACTUAL) $1,310,163,702,867. US FEDERAL DEBT TO GDP RATIO: 106.72%. DEBT PER TAXPAYER: $188,167. This train just keeps rolling, every second of every day.

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