Since the election, I have had more than one person ask me a variant of: “how are we going to pay for everything Trump says he is going to do?” This is ordinarily more rhetorical than an actual desire to know the answer, which is understandable. There has been no shortage of so-called experts predicting fiscal rack & ruin over the next 4 years. It always seems to go something like this: “Based on what we know of Trump’s fiscal and economic plans, our model forecasts an $X increase in the accumulated debt over Y number of years.”
It all sounds very complicated, sophisticated, and intelligent. I mean these are folks with advanced degrees from some of the most prestigious universities in the world. Further, they are on national television, which lends a certain air of gravitas or even validation (for some reason). Surely, they most know better than we; this is what they do for a living for goodness sakes! Well, perhaps, but, then again, perhaps not.
So, whenever I get the question/statement about Trump exploding our debt ceiling (debt ceiling, ha!), I usually counter with one or both of the following, and in no particular order: …Read More…
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.