Stable Economic Genius

Need I say more?

Our stable genius, according to the new Woodward Book, Fear, had a plan for eliminating the federal debt in 8 years: Print Mo’ Money!

President Trump allegedly suggested to his chief economic adviser last year that the government should print more money to help eliminate federal debt, according to an excerpt from Bob Woodward’s new book.

The veteran Watergate journalist wrote in his new book — “Fear: Trump in the White House” — that Gary Cohn, the now-former top economic adviser, told Trump that the Federal Reserve was likely to increase rates during his first term in office, in an excerpt first reported by Business Insider.

“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.

Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.

Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”

Gary Cohn has already issued his rebuttal to the book:

“This book does not accurately portray my experience at the White House.”

Which kinda-sorta doesn’t deny anything at all.

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8 Responses to Stable Economic Genius

  1. RWW says:

    Can there be any doubt that he wanted a few billion printed and put into his own bank account?

    Liked by 1 person

  2. ming says:

    The deficit has grown by $222 billion over the last year and is projected to reach $1 trillion by the end of 2019 – mostly due to the new corporate tax cut and Congress’ decision to increase spending by 7%.

    You know the Dems are going to have to clean up this bullshit once again. Party of fiscal responsibility my ass.

    Liked by 1 person

  3. Karla says:

    Gary Cohn: “This book does not accurately portray my experience at the White House.”
    “It was much, much worse,” he did not add.

    Liked by 2 people

  4. Is this like in “Hitchhikers Guide To The Galaxy,” where the advertising people in the hot tub decree that tree leaves will be the new money, and end the inevitable inflation by burning down the forests?

    Like

    • MDavis says:

      Kind of. They new regime seems to be eliminating positions no one but migrants wants to do, like telephone sanitization – soon to be followed by that plague spread by unsanitized telephones.

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  5. Well, this should make him a shoo-in for the IgNobel prize in Economics! It’s apt because the monetary award is a 10 Trillion Dollar note. Sadly, it’s a Zimbabwean 10 trillion dollar note, which is worth roughly 35 cents.

    (old friend and former boss won an IgNobel a couple years ago and showed it to me. https://www.improbable.com/2016/05/06/new-book-by-the-often-stung-king-of-stings/ )

    Like

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