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Can't make this stuff up.
Donald Trump Calls for Yuge Infrastructure Plan
On Fox News, he made an impromptu remark to spend "double" what Clinton proposed for an infrastructure bill.
How will the US pay for it, given that he also openly wants to slash taxes?
“We’ll get a fund, we’ll make a phenomenal deal with the low interest rates and rebuild our infrastructure,” Trump said. He said that the money in the “fund” would come from bonds.
“We’d do infrastructure bonds for the country, from the United States.”
For those of you not in the know (like Trump), that's how the US borrows; the Treasury Department issues bonds, which are sold on the open market. These can't be negotiated, as a significant part of the rate is based on market demand. Oh, and Treasury Bills pay less than 1% right now on everything shorter than 3 years, and are only 2.2% for 30 year T-Bills.
Full disclosure, I'm not opposed to this type of proposal. I'm just gobsmacked that the Republican candidate proposed it, as it is yet another total violation of conservative and Republican principles. I'm curious to see the reaction -- unless it gets buried under all the other stuff he's saying this week....
Donald Trump Calls for Yuge Infrastructure Plan
On Fox News, he made an impromptu remark to spend "double" what Clinton proposed for an infrastructure bill.
How will the US pay for it, given that he also openly wants to slash taxes?
“We’ll get a fund, we’ll make a phenomenal deal with the low interest rates and rebuild our infrastructure,” Trump said. He said that the money in the “fund” would come from bonds.
“We’d do infrastructure bonds for the country, from the United States.”
For those of you not in the know (like Trump), that's how the US borrows; the Treasury Department issues bonds, which are sold on the open market. These can't be negotiated, as a significant part of the rate is based on market demand. Oh, and Treasury Bills pay less than 1% right now on everything shorter than 3 years, and are only 2.2% for 30 year T-Bills.
Full disclosure, I'm not opposed to this type of proposal. I'm just gobsmacked that the Republican candidate proposed it, as it is yet another total violation of conservative and Republican principles. I'm curious to see the reaction -- unless it gets buried under all the other stuff he's saying this week....