Trump: “i am the konig of debt”

Trump:'ich bin der konig der schulden'

Image: Weibe’s house

Especially because of its tax reform, the state debts of the US will increase strongly

Since the consumption of Donald Trump, the sovereign debt increased by about $ 500 billion to 20.494 trillions now. The Ministry of Finance prepares for a new gross debt increase. On Wednesday, new documents were submitted, according to which the Ministry of Finance expects to include new debts in the financial year 2018 in the amount of $ 955 billion, almost twice as much as 2017 and higher than in many years of the Obama Prasid.

In 2017, tax revenues had risen only 1 percent, but expenditure by 3 percent, such as Fred Pietrangeli, the Director of the Office of Debt Management said at the end of October. The speech was of one "Financing swallow", the goods to be expected through statutory changes. The statutory changes were Trump’s masterpiece, the Christmas present, so the long "Roughest tax reform", the above all the tax rate for rich and companies lowers.

As so often, it had been argued that with tax presents the companies will invest more in the US or to be backed up there, so that the taking losses are compensated again. This variant of Tricke-Down ideology is also criticized as Voodoo’s Economics. Although Minister of Finance Steven Mnuchin had seconded his boss to his boss, but in the Ministry of Finance is one more realistic – and probably Mnuchin does not believe in the salvation effect of the tax reform, one sees from the advantages for the rich such as Trump itself.

In any case, it is clear that at least in the next few years the tax revenues will fall, which means that the debts will rise, if not massive expenses are curzed. Especially the budget law for the Pentagon with a hearty increase in expenditure.

Not only the sovereign debt will grow, but thus the budget deficit. That was 2017 666 billion US dollars. It is expected that under Trump, the America as debtor is roughly increasing to more than 800 billion and in 2019 on more than one trillion.

Under estimates of the Joint Committee on County of Congress, a party-independent committee occupied, with experts, are just under 460 billion in additional revenue by an average growth of the GDP of 0.8 percent by an average growth of the GDP of 0.8 percent by an average committee. Oberdies will increase the interest burden, which reduces the additional revenues.

Trump had not pointed out in his speech to the nation on the state debt committed to the burger, but merely touted his tax gifts. The interest rates for government bonds have also risen, also because of the reason, because the Fed does not buy them anymore. It is estimated that government debt will increase to more than 21 trillion US dollars at the end of the financial year 2018. It fits that the indebted Americans do not believe in their majority, ever to be debt-free. 70 percent do not believe to pay their debts in their lives.

But Trump had already confessed in 2016 "KONAL THE LEGARY" To be able to make one in mind: "I am the Konig of Debt. Nobody knows debts better than me. I did a debt in a debt … debts are good, nothing stupid." And how do you make advantageous therefrom? "It is said that the economy has collapsed. I give you the half again." That may succeed as an entrepreneur, but not as a state.

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