Donald Trump’s Economics No Different than Obama’s
The New York Times writes, "On the campaign trail, Donald J. Trump, the Republican presidential nominee, has sold himself as a businessman who has made billions of dollars and is beholden to no one.
But an investigation by The New York Times into the financial maze of Mr. Trump’s real estate holdings in the United States reveals that companies he owns have at least $650 million in debt — twice the amount than can be gleaned from public filings he has made as part of his bid for the White House. The Times’s inquiry also found that Mr. Trump’s fortunes depend deeply on a wide array of financial backers, including one he has cited in attacks during his campaign."
All this proves is Trump will fit right in.
Any person who decry’s Trump’s bankruptcies is also calling out the economic policy and practices of Obama and the Democrats.
Some people at work were debating whether or not Trump is personally worth billions (Forbes estimates conservatively at $4.5b). I pointed out that the "Trump bankruptcies" were not personal bankruptcies, but belong to the businesses with his name. They refused to acknowledge the truth.
This is not a defense of Trump, rather it is a comparison of Trump’s business economics versus the economic practices of our current admistration. There is not much difference.
The National Debt doubled since 2009 under Obama’s economic policy.
I have also pointed out that debt spending is the economic policy of the Keynesian economics which is the ideology that both the Republicans and Democrats practice. Again, they refuse to recognize the reality of our situation.
Instead of letting the federal government fail economically, Obama, the Democrats and Republicans have added $18.15 trillion in debt. Doubling our debt since 2009.
Trump may have hundreds of millions of dollars of debt but let’s not forgot Obama spent $700 billion on corporate welfare with the passage of the Trouble Asset Relief Program (TARP). In an article dated December 19, 2014 CNN Money writes, " taxpayers lost about $9.2 billion." However, the loses and long term effects might have been worse.
"As of September 2014, foreigners owned $6.06 trillion of U.S. debt, or approximately 47% of the debt held by the public of $12.8 trillion and 34% of the total debt of $17.8 trillion. The largest holders were China, Japan, Belgium, the Caribbean banking centers, and oil exporters." — Wikipedia article entitled, "National debt of the United States."
$16 trillion dollars spent in secret
Like Trump refusing to share his tax returns, the Democrats refuse to make public and transparent audit of the Federal Reserve. However, one such audit did occur and revealed a secret $16 trillion dollars given to corporations, banks and foreign institutions under both Bush and Obama.
This was made possible by a bill first introduced by libertarian leaning Ron Paul. Fed chair and influencial Keynesian economist Ben Bernanke fought to prevent such audits from happing. The future of Federal Reserve audits seems unclear since Democrats have killed a bill proposed by Rand Paul in 2016.
Note: When the Federal Reserve prints money, it is simply an extension of our debt. There are no resources backing its value. It’s the same as writing a check against an empty back account.
Filing for bankrupty is bad for the individual but good for a business
Declaring bankruptcy by a business is considered the correct choice. It allows the corporation to reorganize and recover. A company that is earning some money is more valuable to lenders than a company that doesn’t pay anything back. Ultimately bankruptcy preserves jobs for the community. That’s exactly the motivation of Obama’s multitude of bailouts in the first year of his presidency.
Gary Johnson is a better candiate than Trump and Clinton
Johnson wants to reform the corporate tax structure including the elimination of tax subsidies. He promises a real, no gimicks, balanced budget and warns that the$20 trillion National Debt predicted for 2017 is the greatest danger facing Americans.
"Gary Johnson and William Weld offer a breath of fresh air to a presidential election that is otherwise consumed by divisive partisan rhetoric. Both Johnson and Weld are former two-term Governors and both won re-election by appealing not just to their party, but to all voters." — JohnsonWeld.com