Federal deficit grows by 32% to $900B

What's so disconcerting is the economy is in relatively good shape yet we refuse to cut spending. If we won't do it now when will we do it?
 
cawacko said:
What's so disconcerting is the economy is in relatively good shape yet we refuse to cut spending. If we won't do it now when will we do it?
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The economy is not in good shape, dude.

GDP growth in Q2 was inflated by the tariffs. That won't carry over into Q3 and Q4. In fact, because of an increase in orders in Q2, that will lead to a decrease in orders in Q3 and Q4. It's why I think that we'll be in a recession by this time next year.

Wage growth = stagnant

DJIA = stagnant

Companies still outsourcing jobs.

The tax cuts caused the deficit to soar. They're the only thing responsible for that. Why not just admit that they were a scam this whole time? What have you got to lose by admitting that?
 
LV426 said:
The economy is not in good shape, dude.

GDP growth in Q2 was inflated by the tariffs. That won't carry over into Q3 and Q4. In fact, because of an increase in orders in Q2, that will lead to a decrease in orders in Q3 and Q4. It's why I think that we'll be in a recession by this time next year.

Wage growth = stagnant

DJIA = stagnant

Companies still outsourcing jobs.

The tax cuts caused the deficit to soar. They're the only thing responsible for that. Why not just admit that they were a scam this whole time? What have you got to lose by admitting that?
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Corporate tax reform has been needed for a long time and that's been a bi-partisan belief. Not sure how we a poor economy when unemployment is under 4% and we're still having large job growth. A recession is coming because 1) they always do and 2) the chickens will come home to roost for the Feds easy money policies and the asset bubbles they created in equites and housing

What is consistent is Congress won't cut spending
 
Hello cawacko,

cawacko said:
What's so disconcerting is the economy is in relatively good shape yet we refuse to cut spending. If we won't do it now when will we do it?
Click to expand...

Well, once all three branches of government are held by Republicans we will finally get all that wasteful spending under control.

-rolling eyes-

:rolleyes:
 
cawacko said:
Corporate tax reform has been needed for a long time
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Yeah, by eliminating loopholes and forcing companies to pay the actual amount.

All this tax reform did was cut the rate, but it didn't even cut the rate to levels below what other countries have, so all this accomplished was ballooning the deficit by 32%, that way people like you can feign outrage over the deficit and propose spending cuts you've always wanted, but could never achieve through normal legislation. You practice fiscal terrorism. You deliberately wreck the budget, scream your heads off about the consequence of wrecking the budget, then propose your ideological mandate as the only solution to the deficit crisis caused by your shitty tax policy.

I see right through it for what it is.
 
cawacko said:
A recession is coming because 1) they always do
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NO!

Everything in our economy happens for a reason. Recessions don't just occur "just because". Something causes them to happen. What will cause this recession is the drop in manufacturing orders because of the tariffs. That will result in job loss and price increases, which will result in lower consumer spending. When spending declines, that's what causes the economy to contract.

It's magical thinking to assume recessions happen just because and it's an ordinary occurrence. It's not. It's caused by deliberate action. In this case, your shitty Russia Tax Cut and your shitty Tariffs.
 
cawacko said:
2) the chickens will come home to roost for the Feds easy money policies and the asset bubbles they created in equites and housing
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You're like ten years behind the fucking curve, douchebag.

The recession is going to be caused not by the equities and housing markets, but by the drop in orders to produce inventory for Q3 and Q4. Your stupid, ham-fisted, brain-dead, moronic trade policies will result in higher consumer prices, and a drop in manufacturing and inventory output. That's 100% because of your shitty tariffs and trade policy. Your Russia Tax Cut exploded the deficit up to $900B, a level it hasn't been in 5 years, and that will hamstring government's efforts to curtail the impact from that recession caused by your shitty tariffs and shitty trade policies.

Your problem is that you don't give any forethought to anything you post or believe. It's all reactionary.


What is consistent is Congress won't cut spending
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What spending do you want to cut?

Because the deficit is now $900B thanks to your shitty Russia Tax Cut.

So from where are you going to get that $900B to close the deficit your Russia Tax Cut caused?

Even if you cut all discretionary spending, and that includes things like the FBI, USDA, EPA, State Department, FAA, FTC, OMB, IRS, etc. you're still ending up with a deficit higher than the one Obama left.

So what do you want to cut and from where?

I think you'll come to realize we have a revenue problem, not a spending problem.
 
CFM said:
The federal debt grew from $10 trillion to $20 trillion under Obama.
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Yeah, it grew because cleaning up after Conservatives is expensive.


When are you going to pull your lips of his ass and consider that a problem?
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How about you explain to me why you think our national debt is a problem?

How about you explain to me why you think ballooning the deficit back to $900B will somehow, magically, reduce debt?

I don't consider national debt a problem. Despite our debt, the US still enjoys low borrowing rates.

And your tax cut was supposed to pay down the debt. Guess that was a load of shit too, huh?
 
LV426 said:
Yeah, it grew because cleaning up after Conservatives is expensive.




How about you explain to me why you think our national debt is a problem?

How about you explain to me why you think ballooning the deficit back to $900B will somehow, magically, reduce debt?

I don't consider national debt a problem. Despite our debt, the US still enjoys low borrowing rates.

And your tax cut was supposed to pay down the debt. Guess that was a load of shit too, huh?
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That's excuse, huh?

There you go again thinking because you believe something the rest of us that are much smarter are bound by it. Run along, fool, MEN are trying to do things.
 
CFM said:
There you go again thinking because you believe something the rest of us that are much smarter are bound by it. Run along, fool, MEN are trying to do things.
Click to expand...

OMFG.

So you screeched like a barnyard animal that I address your bad faith line of questioning regarding the debt. I tell you that I don't really consider the debt a major issue, and that just was not the answer you were expecting. You were expecting me to share in your fake outrage over the debt your policies caused, only to be disappointed to find out that I don't pretend to care about the debt like you do.

Why don't you explain to me, using your own words, why the debt is so important to you?
 
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