Gary Cohn was 'astounded at Trump's lack of basic understanding' about the federal debt

@abe182 No ... there was a major financial crisis, remember?

@WoodyAq Correct. Inherited from a Republican administration.

@luckranger71 believe what you want 😆

@abe182 Um, there was a financial crisis in 2008. That’s a fact. Who was President in 2008?

@luckranger71 and when did Obama started to print trillions of dollars huh?

@abe182 Yes, In response to a global financial crisis and major recession.

Right now the economy is booming... different circumstances completely.

@WoodyAq it was just an excuse to spend spend spend

@abe182 No ... it was sound economics.

@WoodyAq shovel ready jobs my Aasss

@abe182 Ummmmm.... the Fed operates in a way that is operationally distinct from the Executive Branch, though there is usually a common approach to policy.

I wasn't a fan of the Treasury folks under Obama, but they didn't operate any differently that the prior two administrations.

The Fed hasn't "printed money" in decades. They use a combination of adjusting the Fed borrowing rate and buying/selling T-bills to influence inflation and the value of the dollar.

I am quite sure this is a distinction that Trump could not explain.

Quit smoking @WoodyAq

@JoeyFoxx You are right.

@JoeyFoxx thank you

@abe182 my pleasure