|Photo: Evan Vucci/Associated Press|
Donald Trump Proposes $550 Billion in New Government Debt:
Donald Trump on Tuesday promised to take on a lot more debt–on behalf of the American people.
Mr. Trump told Fox Business Network that he would spend “at least double” the amount Hillary Clinton has proposed to rebuild U.S. infrastructure. And he said he would finance that spending with debt.
“We’re going to go out with a fund. We’ll get a fund. We’ll make a phenomenal deal with the low interest rates, and we’re going to have to rebuild our infrastructure,” he said.
Mrs. Clinton has promised to spend $275 billion to fund infrastructure projects over five years. So Mr. Trump’s plan could easily require an additional half-trillion of debt.Read the rest of this WSJ article HERE.
2016 Elections: Largely overlooked because of the dust over his attacks on Khizr Khan, Donald Trump made an eye-opening promise on Tuesday, saying that he'd spend twice as much as Hillary Clinton on fixing roads and bridges. It's an outlandish proposal for any politician to make. But it's almost inconceivable that the Republican nominee for president would be trudging down this dreary big-government path.
"We need much more money than (Clinton's plan) to rebuild our infrastructure," Trump told Fox Business Network's Stuart Varney.
The numbers we're talking about here are massive. Clinton says that if elected she would boost federal spending on infrastructure by $275 billion over five years. Her opponent in the primaries, Bernie Sanders, said he'd raise the bid to $1 trillion.
Trump says he'll spend around $550 billion more over five years, which means that he's effectively splitting the difference between a liberal Democrat and a socialist Democrat. (Trump's spending plan also happens to be in line with what liberal economist Larry Summers advocated at a panel discussion at the Democratic National Convention.)Read the rest of this IBD editorial HERE.
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