Donald Trump in The Wall Street Journal


On Budget & Economy: The Fed should refinance debt to reduce interest payments

Trump boasted how "I would borrow, knowing that if the economy crashed, you could make a deal." When pressed, though, he said a country is different and he didn't mean to renegotiate the U.S. debt, only to "refinance" existing debt. Of course, refinancing debt saves money only when rates go down, which raises the question of what the Fed should do with rates.

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].

Source: Wall Street Journal, "Lean on the Fed?", by Greg Ip May 6, 2016

On Government Reform: Reject the elite election system; infuse popular will

On Saturday, April 9, Colorado had an "election" without voters. Delegates were chosen on behalf of a presidential nominee, yet the people of Colorado were not able to cast their ballots to say which nominee they preferred. Politicians furiously defended the system. "These are the rules," we were told over and over again--well, that's just the system and we should embrace it.

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.

Source: Wall Street Journal Op-Ed by Donald Trump Apr 14, 2016

On Government Reform: Against funding post office due to mail-in ballots

Trump frankly acknowledged that he's starving the U.S. Postal Service of money in order to make it harder to process an expected surge of mail-in ballots. In an interview on Fox Business, Trump noted two funding provisions that Democrats are seeking in a relief package. Without the additional money, he said, the Postal Service won't have the resources to handle a flood of ballots from voters who are seeking to avoid polling places during the coronavirus pandemic.

[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."

Source: A.P. and Wall Street Journal on 2020 Trump Administration Aug 13, 2020

On Homeland Security: F-35 program out-of-control; cut billions in military costs

President-elect Donald Trump took aim at one of the Pentagon's costliest programs on Monday, saying on Twitter the "program and cost" of the F-35 Joint Strike Fighter "is out of control."

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.

Source: Wall Street Journal on 2016 Trump Administration planning Dec 12, 2016

The above quotations are from Columns and news articles on NY politics in The Wall Street Journal.
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