- Politics and Social Issues
Donald Trump: "I can clear the debts of 20 trillion of America for 8 years"
During his election campaign, Donald Trump has had many shocking statements about the u.s. economy. Recently, he put out a statement how many sunsets. Donald Trump says he can help the us Government paid off the debt within eight years if elected President.
According to the Ministry of Finance of America, America's public debt is currently at 19.3 trillion USD. This number may be reduced to 13.9 trillion if the internal debt of the Government, such as Treasury bonds due to the Social Security Trust Fund holding
However, Mr Trump insisted repeatedly on the debt has exceeded 19 trillion USD. So when he promises to abolish debt within eight years, maybe you are referring to a higher figure, which will touch the landmark 20 trillion by the time the new President-elect.
The majority of the experts on the public debt for that statement of Mr. Trump was "ridiculous".First, the GDP of America have nearly 18 trillion USD. Second, the u.s. Government is collecting enough not only. In the Government's spending last year was 3.7 trillion while earning just 2.9 trillion USD. So, where did you get 2.4 trillion DOLLARS budget surplus each year to pay the debt within eight years.
Donald Trump says he can make the difference by economic growth and the trade agreements. "I will negotiate all trade agreements which we are underdogs," he said.
The idea of America can clear debts to GDP equivalent scale for 8 years by setting back the terms of trade agreements and to cut government spending that is not convinced. But his Senior Advisor, Trump, Barry Bennett has revealed that the real solution that he is cherished as a rush to Trump 77000 buildings, property and mining rights from the Government. According to the Office of management and budget, United States of America, costs for maintenance of government buildings is 1.7 billion dollars.
"The United States Government owns many of the buildings, land and resources than anyone," Bennett said in an interview with the CNBC report. "We can sell off government buildings not in use, we can sell the right to harness the energy in the piece of land that the Government owned, we can do everything to make money from the assets we hold," he averred.
The u.s. Government how much of the building and the land also is a question many people put out.People don't know our doubts have indeed as he said Trump or not.
A further problem is that the money to buy the property on will come from. The prospect of 19 trillion in investment capital across the us, just waiting for the land and the home of the Government giving the market is going to be bought off and drain it is hard to believe.
It is true that many investors are drawn of the assets that the Government holds but they have enough money to buy out no back is a different story. The ironic thing is that earlier he had declared the Trump immigration door prohibition on States but now want to sell the whole country for foreign investors.
Consider changing stance as his pinwheel Trump during the election campaign, will not be surprised if he changed the promise of the American giant's debt in the coming days.