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BA Deere
Honored Advisor

Re: My accountant opinion

Obama added $10 Trillion to our debt, doubling it, I guarantee you and your accountant that president Trump will NOT double the current $20+ Trillion debt to $40 Trillion.  With Bernie and Pocahontas promising free healthcare, free college, raise in social security adding it all up $30-$100 Trillion in NEW spending, that wouldn`t even make it out of the starting blocks before lenders balking big time. 

Senior Contributor

Re: My accountant opinion

You can use an easy thought experiment to figure out both types of deficits.

Imagine a country that produced absolutely nothing, no food, no products of any kind, no services of any kind.   How would that country import the products it needs to exist?  What would it trade with?  How long would other peoples be essentially slaves for this product less country?  

What if the country only produced 10% of what it needed.  How would it pay for the 90%?  Oh, why on credit you say.   How long would the creditors allow that 90% to compound while never being reduced?    Some people think the rules of nature have been permanently suspended, that deficits  no longer have meaning.   I would counter that time is all that is needed to reset the balance.


Can someone argue that China is not a richer country because of its trade surplus?   Can someone argue that the wealth of a nation can leave a country faster than produced and that country will not become less wealthy?

Another example, think about what happened in WW1 that left the USA the wealthiest nation on the planet.


Senior Advisor

Re: My accountant opinion

What did your accountant say about do nothing Nancy holding up the USMCA? I understand Black Face Trudeau wants it passed.