There is nothing more Trump-like than taking a country that is running a massive annual deficit--and creating a sovereign wealth fund. Its a slush fund to indulge the president and will only increase the US deficit one way or the other. - ThreadSky

phillipspobrien.bsky.social • 112 days ago

There is nothing more Trump-like than taking a country that is running a massive annual deficit--and creating a sovereign wealth fund.

Its a slush fund to indulge the president and will only increase the US deficit one way or the other.

Comments

bingo-crepuscule.bsky.social•112 days ago

It’s all about Steve Bannon’s flooding the zone. It’s all about muzzle velocity. But here’s the catch you have to keep it up day after day, and one day you are going to fuck up. Then it’s over. Team Bozo will eventually fail. They always do.

phillipspobrien.bsky.social•112 days ago

So if Trump uses the sovereign wealth fund to buy Tik-Tok, the US government will be expanding its own deficit to pay off a Chinese company. Its basically Trump making the US poorer to make China richer.

halfbrickmccurdy.bsky.social•112 days ago

Am guessing he watched Qatar and Saudi Arabia use theirs to respectively bailout then rent Jared Kushner for > $2bn and wanted in on that kind of action either as a participant or a recipient.

roberts-rants.bsky.social•112 days ago

It's worse than that. TikTok has altered its algorithm to favor pro-Trump content, from what I've read. So Trump would be using our tax money to pay for speech supporting him.

inspiredlunatic.bsky.social•112 days ago

And it’s a scam to divert some federal dollars into crypto, even though there’s an ongoing deficit and crypto is speculative backed by nothing at all.

Might as well be the Dutch government investing in tulips.

euantaylor.bsky.social•112 days ago

It's deferred spending on real things. That money could have been used to start a project, delivery a task or pay salaries. Now it will sit in financial assets for years.

roberts-rants.bsky.social•112 days ago

Also, when was the money appropriated by Congress? "No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law." U.S. Constitution, Article I section 9.

mbinnc.bsky.social•112 days ago

Deficits only matter when Democrats are in charge. 🤷‍♂️

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