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Home » CurrentEvents

Gee- why hasn't anyone thought of this solution before? September 13, 2018 12:39 pm RL

Why don’t we just print money to pay off the debt?!

As a candidate, Donald Trump pledged to balance the federal budget and lower the national debt, promises that are proving difficult to keep.

Once he won, Trump considered an unusual approach that was quickly slapped down by his chief economic advisor, according to veteran journalist Bob Woodward’s new book, “Fear: Trump in the White House,” which went on sale Tuesday.

“Just run the presses — print money,” Trump said, according to Woodward, during a discussion on the national debt with Gary Cohn, former director of the White House National Economic Council.

“You don’t get to do it that way,” Cohn said, according to Woodward. “We have huge deficits and they matter. The government doesn’t keep a balance sheet like that.”

Cohn was “astounded at Trump’s lack of basic understanding,” Woodward writes.

  • Someone has. by ER 2018-09-13 17:09:34
    • "financialised capitalism" by Robert 2018-09-13 18:37:02
      • The etymology of credit. by ER 2018-09-13 19:56:26

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