Politics
Man With Six Bankruptcies Explains Why $49 Trillion In Debt Is Irresponsible
By Mor Michael, . BSN Network. Satire.
WASHINGTON, D.C. -- President Donald Trump said Tuesday that Democratic Socialist policies would cost American households approximately $350,000 each over the next decade, citing a $49 trillion estimate prepared by his own White House, which he then used as evidence that someone other than his White House should be in charge of things.
Trump made the remarks at a press availability where he described the Democratic agenda as one that would "completely destroy" the United States, a country he has governed for the better part of two terms and which, he suggested, is currently in excellent shape except for what might happen to it.
"We're talking about turning this great nation into a Third World country," Trump said, holding a single sheet of paper that aides confirmed was the estimate. "Third World. You know what Third World means. It means bad. Very bad. We don't want that."
The $49 trillion figure, spread across ten years and divided by the number of American households, produces the $350,000-per-household number Trump circulated. Economists noted this is roughly the same methodology used to determine how much every American owes on the national debt, which crossed $36 trillion earlier this year, a milestone the administration celebrated with a graphic.
Trump has filed for Chapter 11 bankruptcy protection six times across his business career, covering ventures including a casino, two more casinos, an airline, a hotel, and a company that was itself named after his ability to close deals. He described the Democratic spending plan as "out of control."
"You can't just spend money you don't have," Trump said. "That's not how it works. You have to be smart. You have to be a businessman."
Former Treasury Secretary Larry Summers told a Washington think tank that the $49 trillion estimate uses assumptions that a first-year graduate student would describe as "optimistic," a word he said in a tone that meant the opposite.
Rep. Alexandria Ocasio-Cortez, whose democratic socialist politics served as the primary target of Trump's remarks, said the White House had "once again produced an argument against itself and handed it to reporters on a laminated card."
The White House did not dispute that the estimate came from the White House.
At least three Republican senators praised Trump's fiscal warning on Tuesday and then voted the same afternoon to extend a package of tax cuts the Congressional Budget Office projects will add $3.8 trillion to the debt, a figure nobody distributed on laminated cards.
A spokesperson for the Democratic Socialists of America said the organization had not seen the $49 trillion figure before today and was, in their words, "genuinely curious how they got there."
Trump closed his remarks by predicting America would be unrecognizable in ten years if voters made the wrong choice, which he said would be the choice that was not him.
He has previously said the same thing about the previous ten years, which he also ran for half of.
The story we are making fun of: https://www.newsweek.com/trump-democrat-3rd-world-country-350k-household-12519940