QUESTION #3: The Trump administration promised major tax cuts, massive infrastructure rebuilding, and the bringing back of hundreds of thousands of jobs from overseas. Will these policies grow us out of our debt problems?
“Well, those things in and of themselves are not going to grow out of our debt problems. But if you add to that … they’re going to go a long way. But if you add to that serious, serious contraction in the size of the government, then we’re going to have a combination of those two things that is going to go on very, very long way to growing us, well when I say growing ourselves out of a debt problem, it is not going to happen in 10 years. But could we, at the end of eight years, could we at the end of six years, start to see a debt clock running backwards? Which is what I want to see.
Could we start to see that? I believe we could. I believe we could start seeing that if the things that the Trump administration has laid out from a cost cutting and savings perspective start putting the contraction in the size of the government. The problem is, Democrats don’t want that to happen, and neither do Republicans. Republicans are denying it right now. We’ve got to remember, these guys need all the power and all the social control they can get. And the only way they get power and social control is through a bigger more bloated government.
So, it is going to be a very difficult task to do the other half that has to be done, in conjunction with the pro-growth strategies. Listen, if you people don’t realize, we’ve become numb to the idea of how much money a trillion dollars is. It’s an enormous amount of money. It is an unfathomable … we say it like it’s nothing. If we bring one trillion into this economy and I think we have the potential of bringing 4 trillion in, we bring one trillion in, it is going to have a dramatic positive impact on the economy. And I think that’s going to go a long way.
I’m a free market economist, I’m a capitalist and I do believe that we have an opportunity to have a new industrial revolution. As a matter of fact, I think it can make the 1950s pale in comparison…”
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