Trump wants rates to remain low to prevent the dollar from appreciating, which would bring "major problems." But another consideration, he noted, was the [interest payments on the] national debt: "What do we do with all of the money that we owe everybody when rates go up and now all of a sudden we have to borrow at two points more? One point more, even, is devastating. It has to be handled very, very carefully." For the Fed to base interest-rate decisions on the national debt would blur the lines between monetary and fiscal policy. It's heresy by today's standards, but [was done in the 1960s].
Let me ask America a question: How has the "system" been working out for you and your family? I, for one, am not interested in defending a system that for decades has served the interest of political parties at the expense of the people.
The only antidote to decades of ruinous rule by a small handful of elites is a bold infusion of popular will. On every major issue affecting this country, the people are right and the governing elite are wrong. The elites are wrong on taxes, on the size of government, on trade, on immigration, on foreign policy.
[In response], "Postmaster General Louis DeJoy said the U.S. Postal Service is suspending operational changes, like removing mail processing equipment and collection boxes, until after the November election," the Wall Street Journal reports. From a statement: "To avoid even the appearance of any impact on election mail, I am suspending these initiatives until after the election is concluded."
This is the third time in recent days that Trump has unloaded on a defense program. Last week, Trump claimed the government's second-largest defense contractor, Boeing Co., had run up costs in the development of new Air Force One aircraft. The developer of the F-35 program is the government's largest defense contractor, Lockheed Martin Corp.
"Billions of dollars can and will be saved on military (and other) purchases after January 20th," Trump wrote on Twitter, referring to the day he is sworn in as president.
The comment was similar to criticism Trump made on Fox News Sunday, when he told an interviewer the F-35 program was "out of control."
Trump didn't mention Lockheed or any other company by name in his criticism. He hasn't said how he would push down costs.
|
The above quotations are from Columns and news articles on NY politics in The Wall Street Journal.
Click here for other excerpts from Columns and news articles on NY politics in The Wall Street Journal. Click here for other excerpts by Donald Trump. Click here for a profile of Donald Trump.
Please consider a donation to OnTheIssues.org!
| Click for details -- or send donations to: 1770 Mass Ave. #630, Cambridge MA 02140 E-mail: submit@OnTheIssues.org (We rely on your support!) |