The Trump administration seems to be wasting no time getting its financials in order. Just a few weeks into Donald Trump’s term, Trump tweeted that the debt had been lowered by $60 billion. Reports are also circulating that Trump’s first budget will oversee the largest reduction of the federal workforce since WWII.
So we know how Trump plans to save money. But how will he make it?
He certainly doesn’t seem to be willing to raise taxes very much. While he has suggested that he might be okay with a small tax increase on the rich, most of the government’s extra income seems contingent on a growing economy, not higher tax rates.
But that’s not their only plan.
The Trump Administration also seems to be eyeing unpaid debts held by foreign governments — some going back half a century.
Read about how the U.S. is demanding repayment for Cambodian bombings on the next page:
Not just that, but bankruptcy in big business is a tactic, not necessarily a failure. If you have 3 businesses and 2 are doing well and one is breaking even, you bankrupt the even one, wipe out the debt, get the tax write-offs, reinvest into the other 2 businesses and have that much more cash on hand. Bankruptcy is literally a part of business; it just carries a negative connotation because we let any moron who over extends his finances declare it.
You mean Obama didn’t pay our debts. 😉
Dana, read the article again, we bombed the hell out of Cambodia, then sent food aid. Where’s the collateral in that arrangement, and if this is a loan, where’s the payment for damages rendered against their country?
Maybe a little research on my Facebook page will enlighten you… 28 years in business, financed on my own dime, and no bankruptcy. Maybe I should make the same comment to you.
Dana, perhaps you need to research before giving quick little comments about business… I’ve run a manufacturing business for 28 years, no inheritance, and no bankruptcies.
And they don’t have a military
Oh poor snowflake.
To bad they hadnt entered into a repayment plan when it was easier for them…like under Obama or Clinton…even Bush may have forgiven it all.I would say if we have overdue debt from antine all are going to be pursued
Successful business man my$#%&!@* Check the bankruptcy courts or the bills he haven’t paid or the lawsuits. You 45 supporters are as dumb as he is.
Great…. lol. .. pay backs a$#%&!@*