Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Great Reset
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin and Alfie Oakes
  • World Gold Mine Production
  • Fidelity and Vanguard Since 1971

Dan Mitchell Commenting on the DC Budget Fight

August 16, 2017 By E.J. Smith - Your Survival Guy

Photo by Gage Skidmore

Rather than politely allowing Congress to raise the debt limit with no caveats, as they have so many times before, President Trump could use the debt limit increase as a way to force Congress to pass some reforms. Cato Institute senior fellow Dan Mitchell suggests a spending cap or entitlement reform as possible places Trump might pressure Congress. He writes:

Let’s close by indulging one of my fantasies. If Donald Trump wanted to force good policy from Congress, he could threaten to veto any debt limit that wasn’t accompanied by something desirable such as a spending cap or entitlement reform. The politicians on Capitol Hill would balk of course, but Trump could shrug his shoulders and start “prioritization” once the debt limit was reached. So long as all bondholders received promised payments, there would be no danger to financial markets. By contrast, however, the various interest groups feeding at the federal trough would begin to squeal once their checks started slowing down. At some point, Congress would be forced to capitulate.

In other words, Trump has the capacity to score a big victory on the debt limit, just like he has the unilateral ability to score a big victory on Obamacare repealand/or the 2018 spending bills.

I’m not holding my breath for this to happen, but it’s nice to dream. Especially since a big fight over the debt limit today (if successful) could save us from something far worse in the future.

Read more from Dan here.

Dan Mitchell Commenting on the DC Budget Fight

Related Posts

  • Administration Budget Fails Test
  • 1,000 days without a federal budget
  • Krauthammer on Obama's Budget: Truly Scandalous
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

Click here to sign up for my free monthly Survive & Thrive letter.
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • Wellington and Wellesley Funds Not Managed by Vanguard - September 22, 2023
  • Remembering Jimmy Buffett: The Oldest Surfer on the Beach - September 22, 2023
  • Will the Fed Hold Up Its End of the Bargain? - September 21, 2023

Dick Young’s Must Reads

  • What’s John Kerry Doing in Mexico?
  • Florida: Enjoy Certain Freedoms and Individual Liberties
  • Hillsdale College: What College Is Meant to Be
  • To Me There Isn’t a Better Way to Live
  • A NEW CONTRACT WITH AMERICA: Rick Scott Finally Gives the GOP Something to Run On
  • Gold’s 50-Year Price Explosion
  • V4 Stands Against North African and Middle Eastern Invasion
  • DONBAS: Russian Tanks Face Gauntlet of Death from Javelin Wielding Ukrainians
  • Soros’s Open Society Foundation, Charles Koch Team Up
  • Who Will Pay the Price for LEDs?

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Wellington and Wellesley Funds Not Managed by Vanguard
  • Inflation Could Kill Social Security
  • Will the Fed Hold Up Its End of the Bargain?
  • Should America Move Closer to the Saudis, or Push them Away?
  • Don’t Ask Me When to Haul Your Boat
  • Robot Warehouses Need Better Internet
  • California Mandates Drive Diesel Truck Buying Spree
  • Americans Are Not Happy with Bidenomics
  • Paris’s Big Plans for the Champs-Elysées
  • A Plan for Cutting Federal Government Spending

RSS Yoursurvivalguy.com

  • Wellington and Wellesley Funds Not Managed by Vanguard
  • Remembering Jimmy Buffett: The Oldest Surfer on the Beach
  • The Folly of Windmills from Nowhere USA
  • NYC Rolling Out the Robocops
  • Will the Fed Hold Up Its End of the Bargain?
  • Are Most NFTs Now Worthless?
  • 2ND AMENDMENT ALERT: Biden to Create New Anti-Gun Office
  • Don’t Ask Me When to Haul Your Boat
  • You May Be Surprised by America’s “Least Woke City”
  • GREENWASHING: What’s in a Name?

US Treasury Yield Curve: My Favorite Investor Tool

Five Year Treasury Yield

Skyrocketing Costs of Building a Green Grid Are Starting

Wellington and Wellesley Funds Not Managed by Vanguard

The Constitutional Case Against CBDCs

The Government Attack on Americans’ Independence

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives