May 6, 2016

Quote of the Day: Debt? What Debt?

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From Donald Trump, on his plans to run up the deficit in order to rebuild infrastructure:

I’ve borrowed knowing that you can pay back with discounts. I’ve done very well with debt….Now we’re in a different situation with the country, but I would borrow knowing that if the economy crashed, you could make a deal. And if the economy was good it was good, so therefore, you can’t lose.

There you have it. If Trump crashes the economy, he’ll just default on our sovereign debt. Easy peasy. Why is everyone so worried?

POSTSCRIPT: This is a pretty good example of the Trump Dilemma™. Do you ignore this kind of desperate plea for attention? Or do you write a long, earnest piece about just why it’s a very bad idea indeed? You can hardly ignore it since it’s now coming from the Republican Party’s presidential nominee. But giving it oxygen just gives Trump the free media he was angling for in the first place. In this case, I’m semi-ignoring it. Josh Marshall takes the opposite tack here. Decisions, decisions.

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4 DAYS LEFT—AND EVERYTHING RIDING ON IT

A full one-third of our annual fundraising comes in this month alone. That’s risky, because a strong December means our newsroom is on the beat and reporting at full strength—but a weak one means budget cuts and hard choices ahead.

With just 4 days left, we need a huge surge in reader support to get to our $400,000 year-end goal. Whether you've given before or this is your first time, your contribution right now matters. All gifts are 3X matched and tax-deductible.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do. That’s why we need you right now. Please chip in to help close the gap.

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