Debt Soars Under President Donald Trump Tax Cuts | The Last Word | MSNBC

Debt Soars Under President Donald Trump Tax Cuts | The Last Word | MSNBC


>>>OKAY.>>>OKAY. WE ARE ABOUT TO TALK ABOUT THE WE ARE ABOUT TO TALK ABOUT THE MOST IMPORTANT STORY OF THE DAY MOST IMPORTANT STORY OF THE DAY THAT DONALD TRUMP DOESN’T WANT THAT DONALD TRUMP DOESN’T WANT US TO TALK ABOUT. US TO TALK ABOUT. EVERY DAY THERE ARE STORIES THAT EVERY DAY THERE ARE STORIES THAT DONALD TRUMP DOESN’T WANT US TO DONALD TRUMP DOESN’T WANT US TO TALK ABOUT, AND HE IS LUCKY TALK ABOUT, AND HE IS LUCKY BECAUSE WE OFTEN DON’T GET TO BECAUSE WE OFTEN DON’T GET TO MANY OF THE STORIES, LIKE FOR MANY OF THE STORIES, LIKE FOR EXAMPLE, THE RAMPANT CORRUPTION EXAMPLE, THE RAMPANT CORRUPTION IN HIS CABINET FROM SCOTT PRUITT IN HIS CABINET FROM SCOTT PRUITT TO WILBUR ROSS. TO WILBUR ROSS. BUT TONIGHT THERE IS ONE STORY BUT TONIGHT THERE IS ONE STORY ABOVE ALL OTHERS THAT IS BY FAR ABOVE ALL OTHERS THAT IS BY FAR THE MOST IMPORTANT STORY THAT THE MOST IMPORTANT STORY THAT DONALD TRUMP DOESN’T WANT US TO DONALD TRUMP DOESN’T WANT US TO TALK ABOUT, THE BIGGEST STORY. TALK ABOUT, THE BIGGEST STORY. REMEMBER THE $19 TRILLION? REMEMBER THE $19 TRILLION?>>WE HAVE $19 TRILLION IN DEBT>>WE HAVE $19 TRILLION IN DEBT GOING VERY SOON TO $21 TRILLION GOING VERY SOON TO $21 TRILLION BECAUSE WE MADE A BAD BUDGET BECAUSE WE MADE A BAD BUDGET DEAL. DEAL. NOW WE’RE GOING TO HAVE $21 NOW WE’RE GOING TO HAVE $21 TRILLION IN DEBT. TRILLION IN DEBT. WELL DON’T HAVE ANY MONEY. WELL DON’T HAVE ANY MONEY.>>WE HAVE GOT A MESS IN THIS>>WE HAVE GOT A MESS IN THIS COUNTRY. COUNTRY. WE OWE $19 TRILLION, SOON TO BE WE OWE $19 TRILLION, SOON TO BE $21 TRILLION. $21 TRILLION.>>WE HAVE RIGHT NOW $19>>WE HAVE RIGHT NOW $19 TRILLION IN DEBT. TRILLION IN DEBT. SO I BUILT SOME OF THE GREAT SO I BUILT SOME OF THE GREAT ASSETS, LOW DEBT, GREAT CASH ASSETS, LOW DEBT, GREAT CASH FLOW, AND I SAY IT FOR A FLOW, AND I SAY IT FOR A DIFFERENT REASON, BECAUSE THAT’S DIFFERENT REASON, BECAUSE THAT’S THE KIND OF THINKING WE NEED IN THE KIND OF THINKING WE NEED IN OUR COUNTRY NOW OR WE’RE NOT OUR COUNTRY NOW OR WE’RE NOT GOING HAVE A COUNTRY LEFT. GOING HAVE A COUNTRY LEFT. WE’RE NOT GOING TO HAVE WE’RE NOT GOING TO HAVE LITERALLY, WE’RE NOT GOING TO LITERALLY, WE’RE NOT GOING TO HAVE A COUNTRY LEFT. HAVE A COUNTRY LEFT.>>I THOUGHT WE WEREN’T GOING TO>>I THOUGHT WE WEREN’T GOING TO HAVE A COUNTRY LEFT IF WE DIDN’T HAVE A COUNTRY LEFT IF WE DIDN’T ARREST ENOUGH BABIES AT THE ARREST ENOUGH BABIES AT THE SOUTHERN BORDERS. SOUTHERN BORDERS. BUT OKAY. BUT OKAY. WE’RE NOT GOING TO LITERALLY, WE’RE NOT GOING TO LITERALLY, WE’RE NOT GOING TO HAVE A WE’RE NOT GOING TO HAVE A COUNTRY LEFT BECAUSE OF THE COUNTRY LEFT BECAUSE OF THE NATIONAL DEBT. NATIONAL DEBT. SO TONIGHT DONALD TRUMP HAS DONE SO TONIGHT DONALD TRUMP HAS DONE EVERYTHING HE CAN TO MAKE SURE EVERYTHING HE CAN TO MAKE SURE THAT AS HE PUTS IT, WE ARE NOT THAT AS HE PUTS IT, WE ARE NOT GOING HAVE A COUNTRY LEFT GOING HAVE A COUNTRY LEFT BECAUSE AS PRESIDENT, HE HAS BECAUSE AS PRESIDENT, HE HAS PUSHED US UP TO THAT $21 PUSHED US UP TO THAT $21 TRILLION IN NATIONAL DEBT, AND TRILLION IN NATIONAL DEBT, AND HE IS NOW ON TRACK TO REACH NEW HE IS NOW ON TRACK TO REACH NEW RECORD DEBT LEVELS WAY, WAY, WAY RECORD DEBT LEVELS WAY, WAY, WAY ABOVE THAT. ABOVE THAT. THE LATEST CONGRESSIONAL BUDGET THE LATEST CONGRESSIONAL BUDGET OFFICE PROJECTIONS OF THE DEBT OFFICE PROJECTIONS OF THE DEBT MADE PUBLIC TODAY FOR THE FIRST MADE PUBLIC TODAY FOR THE FIRST TIME SHOW THAT DURING THE TRUMP TIME SHOW THAT DURING THE TRUMP ADMINISTRATION, THE DEBT WILL ADMINISTRATION, THE DEBT WILL DRAMATICALLY INCREASE EVERY DAY, DRAMATICALLY INCREASE EVERY DAY, EVERY WEEK, EVERY YEAR WITH NO EVERY WEEK, EVERY YEAR WITH NO END IN SIGHT. END IN SIGHT. THE TRUMP TAX CUTS HAVE THE TRUMP TAX CUTS HAVE SIGNIFICANTLY ACCELERATED WHAT SIGNIFICANTLY ACCELERATED WHAT IS NOW DONALD TRUMP’S RUSH TO A IS NOW DONALD TRUMP’S RUSH TO A FISCAL CRISIS, MUCH WORSE THAN FISCAL CRISIS, MUCH WORSE THAN ANYTHING HE ENCOUNTERED IN HIS ANYTHING HE ENCOUNTERED IN HIS ATLANTIC CITY CASINO ATLANTIC CITY CASINO BANKRUPTCIES. BANKRUPTCIES. THE TRUMP TARIFFS ARE DOING THE TRUMP TARIFFS ARE DOING THEIR PART TOO. THEIR PART TOO. THEY ARE ALREADY COSTING JOBS IN THEY ARE ALREADY COSTING JOBS IN THE UNITED STATES, EVEN THOUGH THE UNITED STATES, EVEN THOUGH DONALD TRUMP BELIEVED THAT THE DONALD TRUMP BELIEVED THAT THE TARIFFS WOULD SAVE JOBS. TARIFFS WOULD SAVE JOBS. THE TRUMP TARIFFS HAVE ACTUALLY THE TRUMP TARIFFS HAVE ACTUALLY CREATED AN INCENTIVE FOR CREATED AN INCENTIVE FOR AMERICAN MANUFACTURERS LIKE AMERICAN MANUFACTURERS LIKE HARLEY-DAVIDSON TO MOVE HARLEY-DAVIDSON TO MOVE PRODUCTION TO FOREIGN COUNTRIES PRODUCTION TO FOREIGN COUNTRIES BECAUSE THE EUROPEAN UNION HAS BECAUSE THE EUROPEAN UNION HAS ANNOUNCED RETALIATORY TARIFFS ANNOUNCED RETALIATORY TARIFFS AGAINST THE TRUMP TARIFFS ON AGAINST THE TRUMP TARIFFS ON PRODUCTS SOLD IN EUROPE THAT ARE PRODUCTS SOLD IN EUROPE THAT ARE MADE IN THE USA. MADE IN THE USA. NO SURPRISE THAT THEY WERE GOING NO SURPRISE THAT THEY WERE GOING TO DO THAT. TO DO THAT. AND SO HARLEY-DAVIDSON QUITE AND SO HARLEY-DAVIDSON QUITE LOGICALLY CANNOT CONTINUE TO LOGICALLY CANNOT CONTINUE TO SELL HARLEY-DAVIDSONS MADE IN SELL HARLEY-DAVIDSONS MADE IN THE USA IN EUROPE THANKS TO THE USA IN EUROPE THANKS TO DONALD TRUMP. DONALD TRUMP. SO THEY WILL MAKE THEM IN SOME SO THEY WILL MAKE THEM IN SOME OTHER COUNTRY. OTHER COUNTRY. AND THEN SELL THEM IN EUROPE. AND THEN SELL THEM IN EUROPE. THE TRUMP RESPONSE TO THAT, OF THE TRUMP RESPONSE TO THAT, OF COURSE, IS A SERIES OF ANGRY AND COURSE, IS A SERIES OF ANGRY AND UTTERLY INCOHERENT AND UTTERLY INCOHERENT AND ECONOMICALLY ILLITERATE TWEETS. ECONOMICALLY ILLITERATE TWEETS. THE HARLEY-DAVIDSON STORY HAS THE HARLEY-DAVIDSON STORY HAS BEEN A BAD ONE FOR PRESIDENT BEEN A BAD ONE FOR PRESIDENT TRUMP, BUT AT LEAST, AT LEAST NO TRUMP, BUT AT LEAST, AT LEAST NO ONE’S TALKING ABOUT THE NATIONAL ONE’S TALKING ABOUT THE NATIONAL DEBT. DEBT. JOINING US NOW TO TALK ABOUT THE JOINING US NOW TO TALK ABOUT THE NATIONAL DEBT, RON KLAIN, THE NATIONAL DEBT, RON KLAIN, THE FORMER CHIEF OF STAFF TO VPTS FORMER CHIEF OF STAFF TO VPTS JOE BIDEN AND AL GORE AND FORMER JOE BIDEN AND AL GORE AND FORMER SENIOR AIDE TO OBAMA AND DAVID SENIOR AIDE TO OBAMA AND DAVID CORN, WASHINGTON BUREAU CHIEF CORN, WASHINGTON BUREAU CHIEF FOR MOTHER JONES AND THE FOR MOTHER JONES AND THE CO-AUTHOR OF THE BEST-SELLING CO-AUTHOR OF THE BEST-SELLING BOOK “RUSSIAN ROULETTE.” BOOK “RUSSIAN ROULETTE.” HE IS ALSO AN MSNBC POLITICAL HE IS ALSO AN MSNBC POLITICAL ANALYST. ANALYST. RON, IT’S NOT EASY EVERY DAY TO RON, IT’S NOT EASY EVERY DAY TO PICK WHAT’S THE BIGGEST STORY PICK WHAT’S THE BIGGEST STORY THAT DONALD TRUMP DOESN’T WANT THAT DONALD TRUMP DOESN’T WANT US TO TALK ABOUT. US TO TALK ABOUT. BUT THE NATIONAL DEBT IS IT. BUT THE NATIONAL DEBT IS IT. AND IT IS GOING TO BE AND IT IS GOING TO BE FASCINATING TO TRY TO SEE HOW FASCINATING TO TRY TO SEE HOW THE REPUBLICAN PARTY TURNS THE REPUBLICAN PARTY TURNS AROUND, AS IT HAS ON RUSSIA AND AROUND, AS IT HAS ON RUSSIA AND SO MANY THINGS AND DECIDES THAT SO MANY THINGS AND DECIDES THAT DEBT IS GOOD, A HIGHER AND DEBT IS GOOD, A HIGHER AND HIGHER NATIONAL DEBT IS A GOOD HIGHER NATIONAL DEBT IS A GOOD THING BECAUSE THAT SEEMS TO BE THING BECAUSE THAT SEEMS TO BE THE ONLY WAY FOR DONALD TRUMP TO THE ONLY WAY FOR DONALD TRUMP TO ADDRESS IT. ADDRESS IT. BECAUSE THERE IS NOTHING THEY’RE BECAUSE THERE IS NOTHING THEY’RE GOING TO DO TO BRING IT DOWN. GOING TO DO TO BRING IT DOWN.>>YEAH.>>YEAH. I MEAN, THEY’RE NOT ONLY NOT I MEAN, THEY’RE NOT ONLY NOT GOING TO BRING IT DOWN, AS YOU GOING TO BRING IT DOWN, AS YOU SAID, LAWRENCE, THEY’RE SAID, LAWRENCE, THEY’RE SKYROCKETING IT UP. SKYROCKETING IT UP. THIS IS THE STORY OF A PROMISE THIS IS THE STORY OF A PROMISE BROKEN AND AN ODD PROMISE KEPT BROKEN AND AN ODD PROMISE KEPT TRUMP PROMISE HEAD WOULD GET RID TRUMP PROMISE HEAD WOULD GET RID OF ALL THE NATIONAL DEBT, TOTAL, OF ALL THE NATIONAL DEBT, TOTAL, WIPE IT OUT WHILE HE WAS WIPE IT OUT WHILE HE WAS PRESIDENT. PRESIDENT. INSTEAD HE IS GOING TO RAISE TO INSTEAD HE IS GOING TO RAISE TO IT A RECORD LEVEL. IT A RECORD LEVEL. THAT’S A BIG PROMISE BROKEN. THAT’S A BIG PROMISE BROKEN. THE PROMISE HE HAS KEPT IS HE THE PROMISE HE HAS KEPT IS HE SAID HIS DEFICIT WOULD BE SAID HIS DEFICIT WOULD BE NOWHERE NEAR OBAMA’S DEFICIT OF NOWHERE NEAR OBAMA’S DEFICIT OF $400 MILLION. $400 MILLION. HE HAS KEPT THAT PROMISE. HE HAS KEPT THAT PROMISE. THEY’RE GOING RUN A TRILLION THEY’RE GOING RUN A TRILLION DOLLAR DEFICIT THIS YEAR. DOLLAR DEFICIT THIS YEAR. THAT’S NOWHERE NEAR WHAT OBAMA THAT’S NOWHERE NEAR WHAT OBAMA DID IN HIS LAST YEAR. DID IN HIS LAST YEAR. I AGREE. I AGREE. THEY’RE GOING HAVE TO TURN AND THEY’RE GOING HAVE TO TURN AND RUN. RUN. BUT IN THE END, RIGHT, THE BILL BUT IN THE END, RIGHT, THE BILL WILL COME DUE. WILL COME DUE. AND THE HORRIBLE THING ABOUT AND THE HORRIBLE THING ABOUT THIS IS JUST LAST WEEK, THE THIS IS JUST LAST WEEK, THE HOUSE OF REPRESENTATIVES, THE HOUSE OF REPRESENTATIVES, THE REPUBLICAN HOUSE PASSED A REPUBLICAN HOUSE PASSED A SO-CALLED FARM BILL THAT CUT SO-CALLED FARM BILL THAT CUT FOOD STAMPS, BECAUSE WE DON’T FOOD STAMPS, BECAUSE WE DON’T HAVE ENOUGH MONEY TO PUT FOOD ON HAVE ENOUGH MONEY TO PUT FOOD ON THE TABLE OF THE PEOPLE IN THIS THE TABLE OF THE PEOPLE IN THIS COUNTRY WHO LACK IT. COUNTRY WHO LACK IT. BUT WE HAD A TRILLION DOLLARS BUT WE HAD A TRILLION DOLLARS FOR TAX CUTS THAT ARE RUNG UP FOR TAX CUTS THAT ARE RUNG UP THE FEDERAL DEBT. THE FEDERAL DEBT. THAT’S JUST A HORRIBLE SET OF THAT’S JUST A HORRIBLE SET OF CHOICE. CHOICE.>>AND DAVID, THE LARGEST>>AND DAVID, THE LARGEST FOREIGN HOLDER OF OUR NATIONAL FOREIGN HOLDER OF OUR NATIONAL DEBT, WHICH YOU CAN HOLD SIMPLY DEBT, WHICH YOU CAN HOLD SIMPLY BY BUYING TREASURY BONDS IS OF BY BUYING TREASURY BONDS IS OF COURSE CHINA. COURSE CHINA. SO THIS — AS THIS DEBT GOES UP, SO THIS — AS THIS DEBT GOES UP, AS IT BECOMES MORE BURDENSOME AS IT BECOMES MORE BURDENSOME HERE IN THE UNITED STATES, CHINA HERE IN THE UNITED STATES, CHINA GAINS MORE AND MORE LEVERAGE AND GAINS MORE AND MORE LEVERAGE AND CONTROL OVER THE PRESIDENT. CONTROL OVER THE PRESIDENT.>>THIS IS DONALD TRUMP’S BIG>>THIS IS DONALD TRUMP’S BIG CON. CON. YOU PLAYED IT OVER AND OVER YOU PLAYED IT OVER AND OVER AGAIN. AGAIN. HE MADE A PROMISE, AND HE CAUGHT HE MADE A PROMISE, AND HE CAUGHT THE HEADLINES. THE HEADLINES. HE WILL GET RID OF THE DEBT AND HE WILL GET RID OF THE DEBT AND HAVE SMALLER DEFICITS. HAVE SMALLER DEFICITS. WELL, YOU KNOW, THE BILL WILL WELL, YOU KNOW, THE BILL WILL COME DUE. COME DUE. BUT WE’RE LIVING IN A TIME NOW BUT WE’RE LIVING IN A TIME NOW WHERE THERE WILL BE NO WHERE THERE WILL BE NO ACKNOWLEDGMENT OF THAT. ACKNOWLEDGMENT OF THAT. TRUMP WILL NEVER ACKNOWLEDGE THE TRUMP WILL NEVER ACKNOWLEDGE THE REAL NUMBERS. REAL NUMBERS. THE REPUBLICANS WILL NEVER THE REPUBLICANS WILL NEVER ACKNOWLEDGE THE REAL NUMBERS. ACKNOWLEDGE THE REAL NUMBERS. WHERE ARE THE BOB DOLES OF THE WHERE ARE THE BOB DOLES OF THE WORLD? WORLD? THEY’VE GONE AWAY. THEY’VE GONE AWAY. NO REPUBLICAN CARES ABOUT THE NO REPUBLICAN CARES ABOUT THE DEFICIT ANYMORE. DEFICIT ANYMORE. AND EVEN NOW, THE HOUSE AND EVEN NOW, THE HOUSE REPUBLICANS HAVE SAID THAT COME REPUBLICANS HAVE SAID THAT COME THE FALL, THEY ARE GOING TO PASS THE FALL, THEY ARE GOING TO PASS OR TRY TO PASS ANOTHER TAX BILL OR TRY TO PASS ANOTHER TAX BILL THAT WOULD MAKE PERMANENT SOME THAT WOULD MAKE PERMANENT SOME OF THE TAX CUTS IN THE PREVIOUS OF THE TAX CUTS IN THE PREVIOUS TAX BILL, AND THAT WOULD EVEN TAX BILL, AND THAT WOULD EVEN EXPLODE THE DEFICIT AND THE DEBT EXPLODE THE DEFICIT AND THE DEBT MUCH MORE THAN IN THE NUMBERS MUCH MORE THAN IN THE NUMBERS THAT CAME OUT TODAY. THAT CAME OUT TODAY. SO THEY ARE NOT DOING ANYTHING SO THEY ARE NOT DOING ANYTHING EXCEPT COMPLAINING ABOUT EXCEPT COMPLAINING ABOUT SPENDING, BECAUSE THAT’S THE SPENDING, BECAUSE THAT’S THE WHOLE GOAL HERE. WHOLE GOAL HERE. THEY’RE GOING TO USE THIS DEBT THEY’RE GOING TO USE THIS DEBT TO SAY, WELL, WE CAN’T SPEND TO SAY, WELL, WE CAN’T SPEND MONEY ON THE FOOD STAMPS THAT MONEY ON THE FOOD STAMPS THAT YOU JUST MENTIONED. YOU JUST MENTIONED. WE’RE GOING HAVE TO SQUEEZE WE’RE GOING HAVE TO SQUEEZE MEDICARE AND SOCIAL SECURITY MEDICARE AND SOCIAL SECURITY BECAUSE WE’RE GOING TO HAVE TO BECAUSE WE’RE GOING TO HAVE TO BE PAYING FOR SERVICING THE BE PAYING FOR SERVICING THE DEBT. DEBT.>>AND ANYONE UP THERE HOZWHO HA>>AND ANYONE UP THERE HOZWHO HA HAD CREDIT CARD DEBT, THIS HAD CREDIT CARD DEBT, THIS BEHAVES LIKE CREDIT CARD DEBT. BEHAVES LIKE CREDIT CARD DEBT. IT’S THE MOST EXPENSIVE KIND OF IT’S THE MOST EXPENSIVE KIND OF DEBT YOU CAN ENCOUNTER. DEBT YOU CAN ENCOUNTER. AS THIS DEBT GOES UP, THE AS THIS DEBT GOES UP, THE INTEREST ON THE DEBT GOES UP INTEREST ON THE DEBT GOES UP DRAMATICALLY. DRAMATICALLY. AND, RON, THAT INTEREST ON THE AND, RON, THAT INTEREST ON THE DEBT EATS UP IN THE BUDGET EVERY DEBT EATS UP IN THE BUDGET EVERY YEAR. YEAR. NO ONE MENTIONS IT, BUT IT IS NO ONE MENTIONS IT, BUT IT IS ONE OF THE LARGEST PIECE OF THE ONE OF THE LARGEST PIECE OF THE BUDGET, GETTING BIGGER AND BUDGET, GETTING BIGGER AND BIGGER EVERY YEAR. BIGGER EVERY YEAR. AND IT’S ON TRACK TO BECOME THE AND IT’S ON TRACK TO BECOME THE LARGEST SPENDING ITEM IN THE LARGEST SPENDING ITEM IN THE BUDGET, DWARFING ALL OF THE BUDGET, DWARFING ALL OF THE DISCRETIONARY SPENDING IN THE DISCRETIONARY SPENDING IN THE BUDGET. BUDGET. AND WHAT THAT MEANS IS IT WIPES AND WHAT THAT MEANS IS IT WIPES OUT THAT SPENDING ON EDUCATION, OUT THAT SPENDING ON EDUCATION, ON ALL SORTS OF PROBLEMS, ALL ON ALL SORTS OF PROBLEMS, ALL SORTS OF ISSUES OUT THERE THAT SORTS OF ISSUES OUT THERE THAT ALL HAVE TO GO INTO BASICALLY ALL HAVE TO GO INTO BASICALLY ZERO SPENDING MODES JUST IN ZERO SPENDING MODES JUST IN ORDER TO PAY YOUR DEBT. ORDER TO PAY YOUR DEBT.>>YEAH.>>YEAH. IT SEEMS LIKE TRUMP IS RUNNING A IT SEEMS LIKE TRUMP IS RUNNING A CONTEST BETWEEN TRYING TO RUN UP CONTEST BETWEEN TRYING TO RUN UP THE PENTAGON BUDGET AND RUN UP THE PENTAGON BUDGET AND RUN UP THE DEBT TO SEE WHICH NUMBER CAN THE DEBT TO SEE WHICH NUMBER CAN BE LARGER IN OUR BUDGET. BE LARGER IN OUR BUDGET. INTEREST PAYMENTS ON THE DEBT OR INTEREST PAYMENTS ON THE DEBT OR INCREASINGLY LARGE PAYMENTS TO INCREASINGLY LARGE PAYMENTS TO THE PENTAGON. THE PENTAGON. BUT LOOK, LAWRENCE, I THINK THE BUT LOOK, LAWRENCE, I THINK THE SCARIEST THING OF ALL IS WE’RE SCARIEST THING OF ALL IS WE’RE SEEING THESE KINDS OF NUMBERS AT SEEING THESE KINDS OF NUMBERS AT A TIME OF RELATIVE PROSPERITY. A TIME OF RELATIVE PROSPERITY. SOONER OR LATER, THE BUSINESS SOONER OR LATER, THE BUSINESS CYCLE WILL TURN. CYCLE WILL TURN. AND IF TRUMP KEEPS PRESSING AND IF TRUMP KEEPS PRESSING THESE TARIFFS, IT WILL TURN THESE TARIFFS, IT WILL TURN SOONER RATHER THAN LATER. SOONER RATHER THAN LATER. AND THAT MEANS THAT THE DEFICIT AND THAT MEANS THAT THE DEFICIT WILL JUST EXPLODE EVEN MORE. WILL JUST EXPLODE EVEN MORE. WE’LL SEE THE TRUMP RECESSION. WE’LL SEE THE TRUMP RECESSION. IT WILL COME. IT WILL COME. AND THEN THESE NUMBERS WILL LOOK AND THEN THESE NUMBERS WILL LOOK WORSE AND WORSE AND WORSE. WORSE AND WORSE AND WORSE. AND THE GOVERNMENT WILL BE OUT AND THE GOVERNMENT WILL BE OUT OF DRY FISCAL POWDER TO TRY TO OF DRY FISCAL POWDER TO TRY TO STIMULATE THE ECONOMY OR DO STIMULATE THE ECONOMY OR DO SOMETHING ABOUT IT. SOMETHING ABOUT IT. TONIGHT’S NEWS IS BAD. TONIGHT’S NEWS IS BAD. BUT THE FUTURE NEWS IS EVEN BUT THE FUTURE NEWS IS EVEN WORSE. WORSE.>>IT’S A VERY DIFFICULT SUBJECT>>IT’S A VERY DIFFICULT SUBJECT TO RUN CAMPAIGNS ON BECAUSE THE TO RUN CAMPAIGNS ON BECAUSE THE PUBLIC DOES NOT EASILY GRASP IT. PUBLIC DOES NOT EASILY GRASP IT. AND IT DOESN’T HAVE ANY OF THE AND IT DOESN’T HAVE ANY OF THE EXCITEMENT OF SOME OF THE OTHER EXCITEMENT OF SOME OF THE OTHER THINGS THAT COME OUT IN THE THINGS THAT COME OUT IN THE COURSE OF A DAY, ESPECIALLY THE

100 thoughts on “Debt Soars Under President Donald Trump Tax Cuts | The Last Word | MSNBC”

  1. Same as this vile Tory government we have. No money for the sick and infirm or the Police but money to give tax breaks for the rich. Over ten years of austerity and this lot have borrowed more than the last Labour government.

  2. Please take a look at the Debt Clock right online for all to see. The National Debt as of today is 22.5 Trillion and the Deficit has Exploded with Trump giving Tax Breaks to the Rich.

  3. Yeah, sure. Whatever happened to free market economics with Trump's tariffs? And the Fed right now is trying to get its arms around the HUGE debt he created by giving the HUGE tax breaks to the wealthy. I'm still waiting for mine. Then there's the budget and trade deficits that have NOT gone away. Trump's economics could well end up putting us into an inflationary depression. Just wait. What a charlatan.

  4. i watched the tax bill be created. i understood from day one that this would happen and not one of you in the media that are paid by the same billlionaires that tried to let the nation know what happens when you increase spending right after you cut income when you are already in debt. and because of this the people that pay your salaries became more wealthy. and what is even worse is that some of you are still working to make sure that if a dem wins the white house they wont hold the house and senate because of chuck todds demand that every candidate back gun bans a gun registry and confiscation. once you realize what is going on and you watch it in real time it is like watching something that is a cross between a horror show and a a hindenburg going down in flames.

  5. EURO collapse Ezekiel 7: 19 Revelation 18: 17 will fall onto the US like a shower of Lehman. The enriched uranium nuclear assets of Iran will be BOMBED. THIS financial system melts down to its end. Isaiah 55: 1. Psalms 46: 4-6.

  6. Is there a place on these presentations that have a date on them? I hate listening to these reports and not knowing how old they are or if they are current.

  7. can't even make a comment on this because it's so obvious that even a trumpet must be obligated to maintain any moral standards understand it's a bunch of crap if you what are you anyway trumpets I guess believe that any of these people in this Administration give one iota about you other than your vote and your contributions you're more of a moron then the man you follow how are your tax returns this year honestly

  8. Trump's debt figures and Obama's is that Trump has added a massive amount of debt while the US economy has been strong, whereas Obama took over during the depths of the financial crisis. Not to mention that Obama brought in the Stimulus package and Obamacare whereas Don-the-con just gave a giant bonus to his courtesans.

  9. Trump's debt figures and Obama's is that Trump has added a massive amount of debt while the US economy has been strong, whereas Obama took over during the depths of the financial crisis. Not to mention that Obama brought in the Stimulus package and Obamacare whereas Don-the-con just gave a giant bonus to his courtesans.

  10. Humpty Dumpty sat on a wall, Humpty Dumpty had a great fall. All the king's horse's and all the king's men couldn't put the lame bassturd back together again…. tick tock, tick tock…..

  11. When are you Americans going to wake up and revolt against this con man you have as a president. You look like fools to the rest of the world.w

  12. TRUMP promised showing his TAXES for the 2016 election.
    TRUMP?
    Are you going to PROMISE to show your TAXES again prior to the 2020 election?

  13. the rich that tell trump what to do does not mind adding to the debt as long as they get their tax cut.

  14. No Trump, you spend money.the tax payers money. You just keep or trying to blame everybody else for YOUR mistakes. The GOP with no brains.

  15. Yet the f-ing Dems running for president don't seem to want to talk about it. There would be no more effective way to peel away at his support, yet they would rather blather on about his racism.We get it already. His distractions are working as planned.

  16. NO VASELINE TRUMP. YOUR A WH IU TE TRASH AND YOUR AS UGLY AS IT GETS AND WIPE YOUR NOSE TH HE STUFF YOU SNORT WAS RUNNING DOWN YOUR NOSE

  17. He Intend To Change the State CONSTITUTION…AND BECAME Dictator..and change many laws in favore for some billioner…

  18. The rich love him. When the rich don't pay their Fair share, the poor pay more, Tax deficit increases and people programs go dead. The Republicans created this mess. THE REPUBLICANS ARE THE ENEMY TO AMERICA.

  19. But, but, but what about the grandchildren? Republicans always used them as the argument against spending, but only when it was the Democrats spending it on social programs.

  20. It's just GOP business as usual… when the other side is in Power it's always "mind the debt, do not spend anything, least of all on the small people, we have to be fiscally conservative, avoid "big government" " and so on… when they manage to get into Power it's always "quick, let's throw money at our pet projects like military and the jailing industry, we might not get to do this again!"

    Watch the last 100 years. Republicans increase the debt and budget deficits, Democrats clean up after them and bring the country back onto a budget neutral or positive course, just to then see another GOP president elected on empty promisses and destroying everything again. Same for regulation / deregulation. GOP takes down the rules meant to keep businessmen honest and have them pay taxes, economy collapses every 20 years, Dems have to bring back regulations and lose the next election over "see how they choke the economy" rhetorics. People are stupid and the GOP makes best use of that.

  21. He's the self-proclaimed King of operating in the Red. Problem is, one wrench in that volatile equation can cause a domino effect.

  22. The mess that you made Trump. So who are you trying to kid? Everything that he does fails ,so be prepared people.

  23. We can't feed starving kids..disabled..seniors..vets..struggling single mothers but we have 110million for his golf trips…$ to send his entire family of grifters to the UK on vacation…and over 700.00 per day to cage children! Smh

  24. Thanks Donald…. We are now as of, this moment, 22 TRILLION IN DEBT…and we've got a year with you to go !!!

  25. Mr. Trump was referred to an un unindicted co-conspirator in the SDNY Cohen Sentencing Memo in December 2018.

  26. He is only in the job for the money and benefits. But his supporters are to ignorant to see and care about that.

  27. Trumps debt is now 21 trillion his so called looking out for America first has driven the debt to highest EVER ! But all those Rich mother f*%&!÷? are doing great and the average Americans debt has risen to the highest in history ! Its not America first it's all ( Money) for One the Rich ! And ONE FOR ALL (TAXES ) Mr. Trump you and the RUSSIAN Republicans are distroying (OUR) NATION we need the Real Republican's to Step Up for America and stop Lieing and speak the TRUTH !

  28. The INNER WORKINGS OF THE F.B.I And The Statement They Are Saying With A Kid President ! Stating Four Elected Members Of Representatives TAXATION WITHOUT REPRESENTATION AND Throwing Out The Constitution and The Foundation of America !
    With The INNER WORKINGS OF THE F.B.I That's Planed For Weeks, Months And Years On Both sides of Politics and Divided The Nation!

  29. We need to claw back the grand theft pulled off by the 1% gang and put it right back in the treasury. Then tax the crap out of these criminals until we have no national debt. Debt cripples the borrower. Does anyone want to see the USA crippled?

  30. I am amazed at the fact people don't understand how the money system really works. Your dollar is a worthless piece of paper. It's backed by nothing but faith that the people have that it has value. The central bank is nothing but greedy bankers controlling how much is printed to their advantage so the taxpayers can pay the interest on the debt with the same worthless dollar. The key is it gives them the power to CONTROL. If people were to say we no longer believe the dollar is of value it would bring our financial system down and all the greedy people would have to get a real job. Of course you can correct the whole problem by putting the system back on a standard whether it be gold or something people consider of value. It would decrease the amount of currency floated and start us back to gaining control of our spending. The Central Bank could only print the money we can back. At one time that's the way it was but of course the politicians had to screw that up as well.

  31. America needs to stop playing this blind and stupid game ever since Trump came into office the only people or individuals who are benefiting from his presidency is those who lie for him and his family by making sure their pockets are filled and overflowing with cash when his presidency is over this is why we are sounding the alarm to take this nasty racist bigot out of office in 2020 come on America

  32. Believe me! The donald trump that I know from New York, is skimming money from the taxpayers somehow, he's taking kickbacks, or however else he can get it. He is also getting lots of payoffs from foreign countries, unless it's not the real donald trump.

  33. When we get done with his really big brrrain the country will be filing bankruptcy, total looser business man and deal maker,. The orange blob, old orange we know you wear long time to hide that fat stomach. It's not working

  34. Yeh that’s a good idea we’ll starve the poor cause the rich need a tax cut this is disgusting politics and trump hasn’t got the brains to fix this and America will eventually go into recession

  35. Ok the self-professed master of bankruptcy is heading our United States of America to bankruptcy!!! Wake up people!!!

  36. This is news ? It's just more of the same pattern. Reps get the WH and cut taxes and spend like crazy on military. After 4 or 8 yrs the sh*t hits the fan and the dems get stuck with the blame for the bad economy while they're in office. Then once things start to run smoothly again the reps gain the WH and do it all again. Only the willfully ignorant refuse to see the pattern. Cut income (taxes) raise costs (military spending, wars off the books, etc) and expect things to work out.
    NO ONE EVER !!! has run a successful household or business that way. Why would it work in government ?

  37. But yet that's all a trumpster talks about is how trump has got this great economy. Which was started on recovery in 2009 after bush left obama with a real disaster.

  38. Trump ran up the expense account to $ 19,000,000,000.00 second term if he wins the debt will be $ 50,000,000,000.00 !

  39. Trump never understood simple math. His tax cuts increased the national debt. He's the cause of our current debt balance; new highs never seen in the past, and still increasing. https://www.aol.com/article/finance/2019/07/27/trump-adds-trillion-national-debut/23780290/

  40. China owns most of our debt. I"m not an economist, but I smell big trouble for our economy and security.
    Trump adds $4.1 trillion to national debt. Here's where the money went

    SIBILE MARCELLUS
    Jul 27th 2019 1:58PM

  41. Simply put; it's telling all consumers that the their debt is good, even if they end up losing everything they own. Their home, their car(s), and all their possessions. It's called, "bankruptcy." Trump is familiar with bankruptcy; he's lived through at least four of them. His daddy was able to save him, but the US government doesn't have any sugar daddy.

  42. Tell me, which of his promise is kept? Build the wall and Mexico shall pay? Drain the swamp? Remove and replace Obamacare? Reduce the debt?… Dadadada. …the opposite had happened. A joke. What is worst? The doped supporters are clueless to his lies.

  43. Dough boy is putting America in even more dept then what we were before..Who ever wins over cheeto this time is going to be left in horrible dept.He's a horrible buisness racist, he sold his name, that's how he made his money. He's a horrible buisness jerk..He could careless if our Beautiful Country goes down the johnny flusher. And it's just fine with the dept ..People go to PBS on utube . The Full Mueller report. Then you forward all you can..But go there. without russia's help, Dough boy wouldnt have ever been 45..Never. But to the base, they are ok if America becomes little russia, all in the name of hate and racism….period. I still stand by Mueller..He would never lie. Never..Now take Cheeto, it's a daily thing for him. He doesn't care how much he puts America in danger. He wants that, so he can have his little russia..That's a fact Jack…read & forward. They base, go hide under a rock, you are deplorable…..Deplorable..Take each vote to the tally. Don't vote through the mail. turtle voted agains protecting America. We all know where the republicans stand , and it's not with America…

  44. The tRump tax cuts that were handed to the elitist 1% need to go. It wont fix everything but it's a start in the right direction. His give away is a mess and there is no way that works out well.

  45. Once again….
    the republicans deepen the debt while giving a massive tax break to the wealthy and take away from the poor and middle income earners. Social Security is OUR money! Leave it alone.

  46. CHINA NEEDS TO SELL ALL AMERICAN DEBT, AND GET RID OF ANYTHING AMERICAN. THESE FOOLS SHOULD KNOW BETTER THAN TO TRUST A RACIST TERRORIST NATION!

  47. DEMS NEED TO LET THE RACIST REPUBLICANS RUN UP THE DEBT UNTIL THE ECONOMY FAILS THEN LET THE ECONOMY FAIL ALL THE WAY SO WE CAN HAVE OUR WAR AGAINST THESE RACIST TERRORIST!

  48. HUH?? ALL REPUBLICANS NEED TO RUN ON IS THAT THEY HATE, BLACKS, JEWS, aND MEXICANS AND THEY WILL WIN EVERY TIME!

  49. And a whole trillion is for Trump's weekly golfing, family outings, stupid wall expenses and other nonsense.

  50. If the US dollar is backed by Gold, what does TRUMP plan on doing, selling all of the US Treasury notes and the Gold that once back the treasury. In doing that he'll also decrease or devalue the US Dollar. Basically, eliminating anything of value in the us economy. How ignorant is the policy of this BUM!!

  51. Don't worry, future working poor generations will pay for all these rich wealthy non working (tax), actually welfare payments.

  52. Did anyone else notice that before the first National bank and the federal reserve took our nations wealth we didn't have debt?

  53. Mr. Art of the Deal  raised the deficit  with his tax cut along with his tariffs  . So lets cut foods stamps for the poor  and veterans programs that help  them and the disabled programs and Medicaid and Medicare  as well  but he wont touch the 1 % or the Rich who should be taxed high  so these programs wont be  cut but Trump is a con man  and he with never talk about this problem since its a very big problem .

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