Trump's America will be saddled with debt – just like his bankrupted hotels. By Richard Wolffe

By Dilip -
Even the prayer people were happy to set aside their morals. They know that Trump’s kind of magical thinking is precisely what the world needs right now, otherwise everybody would get very upset at the way the planet is warming, the threat of nuclear war, and the global refugee crisis. Right now we obviously need the kind of leader who is completely ignorant about the consequences, and just lives in the moment… Because if we don’t live in the here and now, we might start thinking about all those Trump-sized debts that will land after a corporate tax cut that blew apart the federal budget and a spending deal that now promises to do the same… Fortunately we live in a time when Republicans have learned from his leadership and abandoned all their old ways of thinking, which they used to call principles. 

Once upon a time, conservatives said they hated Barack Obama because of his budget deficits. They said he was destroying America and its future, which made them very angry indeed. They were so mad about all those Obama debts that they invented a new party, and named it after the revolution-aries who opposed a nasty British king. The Tea Party was a collection of strange people, including one candidate who promised she wasn’t a witch. But the strangest thing happened after Obama moved out of the White House, and an orange man moved in. That was when conservatives all across America decided they didn’t actually hate debt and deficits after all. 

That was just one of the many ways Donald Trump made everyone happy in America all over again. Another one was the stock market, which sometimes goes up and sometimes goes down. Everyone was happy when it went up, and nobody talked about it when it went down. Donald Trump knows a lot about debt because he has created so much of it himself. He’s like a grand wizard of debt because he has magically escaped from several dark boxes of it. He also knows a few grand wizard types and thinks they are some very fine people. 

Grand Wizard Trump first learned his magic debt spells when he built a palace called the Taj Mahal in Atlantic City. He called it the eighth wonder of the world, and it certainly was wonderful how the business went bankrupt a year after it opened. Five other Trump palaces went bankrupt the next year, but he waved his wand and everything turned out fine. For him. How did he escape from all that debt? “On occasion,” he told Hillary Clinton on television, “we used certain laws that are there.” That certainly put her in her place.

Normal people find it hard to borrow money or run businesses after so many bankruptcies. But they don’t know the magic spells that Trump knows, and they don’t have a TV show that makes any buffoon look like a real businessman. They also don’t have Russian wizard friends who buy lots of their property at ridiculously high prices because that’s how they do something they call “laundry”… read more: 
https://www.theguardian.com/commentisfree/2018/feb/09/trump-saddle-america-debt-bankrupted-hotels


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