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:
What happens if China comes to collect what we owe.
We are paying our debt (at least the interest) to China. Cambodians and most other countries that owe the USA monetary debts are not paying anything.
Successful buisnessman? He has bankrupted 6 companies.
Is trump a dumbass or what?
Good! Ya want the help but don’t want to help us?
You do realize the average failure rate for businesses is around 80% in the first year?
Now, I can’t find a definite count, but all sources seem to agree that Trump has north of 500 businesses in total. Since I can’t find a definite count, I’ll lowball it at 500. Keep in mind that any additional numbers over 500 would just make him MORE successful.
So, using basic math: 6 divided by 500 would be .012. Multiply that by 100 to convert to a percentage and you get 1.2%. He has a total business bankruptcy rate of 1.2% (or LESS). So, yes, I’d classify that as being highly successful in the world of business. I can’t think of anyone else who has anywhere near that success rate, actually. Trump has many, many weak points to nitpick at, but being a bad businessman isn’t one of them.
Yeah, Jerome, also China should love this, cuz if nothing else, we’ll have excess cash with which to pay China back.
Uh..Not even close to the same thing. We bombed them, we didn’t lend them money to bomb themselves.
Yeah, declare bankruptcy, then the US will foreclose for unpaid debt then sell it back to them if they want it. When you take out a loan, you must have collateral.
Inflation not interest.