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Trump Learns Nothing [1]

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Date: 2023-05-11

During his 2016 presidential campaign Trump said he would make our creditors discount the debts we owe them! I reacted to this absurdity in May of 2016 by writing and posting on Mac's Back Porch a story entitled, “When A Reality Show Becomes Reality.” The following is an excerpt from that story:

“What has real economists wetting themselves is that Trump's incredible ignorance and naivete about the national debt and the world economy are causing him to advocate some really dangerous actions. In regard to the national debt it appears that Trump has embraced the iterations of the Greedy Old Plutocrats without understanding their code. They do not see the debt per se as a problem. Their objection is really about what the borrowed money is paying for, or more accurately the fact that they are not making a profit off of the programs the borrowed money funds. If you privatize those programs the plutocrats will go to great lengths to defend the spending no matter how wasteful that spending may be. If you do not believe me, just look at the attempts to privatize Social Security, Medicare, and even education, and ask yourself how much money we waste on the military industrial complex. Everyone who has looked at it will tell you we are not getting our money's worth from defense contractors, yet there is always this absurd call to spend more rather than becoming more efficient... Enter the Trumpster. Most Presidential candidates are smart enough to realize they do not know all that a President needs to know. Most Presidential candidates are smart enough to set aside their egos and hire experts to advise them about the economy and other issues. Donald Trump is not that bright. He is acting as if he believes the myth that businessmen are better at managing the economy than real economists are. If you follow his business model it is perfectly reasonable to say debt is power. If you owe the bank 50 thousand dollars the bank owns you. If you owe the bank 50 million dollars you own the bank, and you can make the bank discount your debt if that is what you want it to do. But that does not mean that the most powerful nation in the world can or should force its creditors to discount its debts. If the Trump Organization defaults on the payment of its debts there will be a negative impact on the market but the creditors who suffer the loss will not take the national or world economy down with them! If the united states defaults on its debts or refuses to pay the full amount of its debts as Trumpis advocating the currency market will be thrown into turmoil and stock markets will crash. What Trump is advocating is an insane remedy for a problem that is largely non-existent. I guess that is what happens when the line between a reality show and reality becomes so blurred...”

Now Trump, the ignoramus in chief of the Republican Party, is running for president again regardless of the fact that he has been twice impeached, indicted, and found liable for sexual abuse. Furthermore, he is favored to win the Republican primary. How morally and intellectually bankrupt can the GOP be? Well, Kevin, Charlie, McCarthy and the base MAGAs in congress are threatening to let the U.S. default on its debts by not raising the debt ceiling, and although the Donald is no longer saying he will make our creditors discount our debts, he is saying he agrees with Kevin Charlie about extorting drastic cuts to many vital programs by holding the full faith and credit of the United States hostage. But then, Trump is probably the most useful idiot and/or the best friend of every despot who wants see our alliances collapse, our economy crash, and our democracy fail! Stupid and despotic is a very bad combination, and it was on full display when CNN televised Trump's town hall meeting.

To those who say, “do not underestimate Trump,” I say, “do not underestimate the petulance and gullibility of the voters!” Trump still favors a federal ban on abortion and is against any regulation of firearms. Those are issues the voters can understand. Educating the voters about the debt ceiling is not as easy, but we have to keep trying to make the voters understand how dangerous it is for the Republicans to threaten the full faith and credit of this country. I want to hear every Democrat shouting out the warning: “Protect your mortgage rate, protect the rate of your car loan, protect the rate of interest on your credit cards and all your other loans! Tell the Republicans to honor America's debts as the fourteenth amendment says we must!”

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[1] Url: https://www.dailykos.com/stories/2023/5/11/2168805/-Trump-Learns-Nothing

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