Federal deficit grows by 32% to $900B

[Flash]

LOL!

You're still not getting it.

The tax cut is the problem here because the tax cut is what exploded the deficit by 32%. So you keep talking vaguely about "cutting spending", but you don't really have an idea of what that entails, nor do you have any plan to replace that spending with anything in the economy. When you cut government spending, you cut demand in the economy. If you don't replace that demand with any, you end up contracting the economy because there's less spending.

You clowns seem to think that for every dollar in government spending that is cut, there's an equal and opposite increase in spending from the private sector. And that's just fucking stupid. So you want to cut spending, but you don't really know what you want to cut, and then to top it all off, you're not replacing government spending with any other spending, thus you're contracting the economy.

What a fucking idiot.

I know the tax cut exploded the deficit (plus the large increase in spending). That is why I said I opposed it (you must have not read that part) without spending cuts. I know what I want to cut--everything. Eliminate many old and ineffective programs, allow competitive bidding for Medicare, stop government funding based on numbers, Social Security benefits that are not needed, and many more.

Consumer spending makes up 68% of the economy--that is the source of demand, not government spending. If you increase taxes that is taking money out of the economy. Without higher taxes you have to borrow which gives you a temporary boost in the economy at the expense of lower GDP later.

 

[CFM]

The president don't have the purse strings idiot! Congress does the spending- they do the budget!

The president just has to sign the budget bills in order to keep the government open for business.

I'm' sure Obama told congress every year, "Is this the best you can do"?

Let me tell you how you don't fix the deficit- You'll never fix the deficit by allowing the rich and famous to skirt their tax obligations while putting the tax burden completely off onto the hardest working Americans like the Republicans did.

Wake up idiots!

You're sure he did? Perhaps you can provide proof of that exact quote.

Hate to break it to you but half the people in the country don't pay income taxes and they aren't those you claim are footing the bill. In case you didn't know, poor people don't have money.

 

[Flash]

So we had a balanced budget that Republicans tried unsuccessfully to unbalance at the end of the 90's, only to erase the surplus Clinton protected in 2001 by passing the Bush Tax Cuts. What then followed were 7 consecutive years of deficits, four of which were all-time highs, and the last one still stands as the highest deficit ever. That's primarily because of your tax cuts.

Why did Obama extend the Bush tax cuts if they were so terrible?

 

[sear]

"Why did Obama extend the Bush tax cuts if they were so terrible?" F #483

That's a question about Obama.
The topic is U.S. federal deficit growth.

Why so terrible?
Because with a U.S. federal debt at $10 $Trillion, reducing tax revenue with a tax cut below the Laffer Curve peak is $fiscally irresponsible.

 

[sear]

PS

"What's pernicious about deficits for conservatives is this. It makes big government cheap. What we're doing, we're turning to the country, the "conservative" administration turns to the country and says: We're going to give you a dollar's worth of government, we're going to charge you seventy five cents for it. And we're going to let your kids pay the other quarter." George Will Nov 30, 2003

 

[Adolf_Twitler]

You're sure he did? Perhaps you can provide proof of that exact quote.

Hate to break it to you but half the people in the country don't pay income taxes and they aren't those you claim are footing the bill. In case you didn't know, poor people don't have money.

Poor people are not ever going to pay for the deficit that the idiots in Washington expect them to.

What the fuck was Donald Trump, Paul Ryan, and Mitch McConnell thinking?

Idiots!

 

[CFM]

Poor people are not ever going to pay for the deficit that the idiots in Washington expect them to.

What the fuck was Donald Trump, Paul Ryan, and Mitch McConnell thinking?

Idiots!

No one expects poor people to do that. Most of us are smart enough to know they don't have money. You think they do.

 

[Into the Night]

You're just making this shit up as you go, aren't you?

View attachment 7674

Plenty of inflation between 3-5% for years until after WWII.

The Fed was created in 1913 and inflation didn't take off until after the Second World War, when the United States' economy expanded at an historic rate.

WRONG. The first major inflation took place in 1934, when FDR stole the gold from U.S. citizens.

 

[Into the Night]

Wrong.

You're just making shit up as you go.

View attachment 7675

What a fucking fraud.

Inflation is not the consumer price index.

 

[Into the Night]

I haven't changed anything. You're the one trying to blame the Fed for the mortgage collapse when it was Bush's own Working Group that says the turmoil was "clearly triggered by a dramatic weakening of underwriting standards for subprime loans beginning in 2004 and extending through 2007".

It wasn't. It was caused by the Fed making money to easy to get to speculate with.

The Fed had nothing to do with Bush's regulators weakening lending standards for subprimes. You all made the choice to do that to create a housing bubble to make it look like the economy was growing as a result of tax cuts when it was really growing as a result of debt.

Never said it did.

 

[Into the Night]

Non-sequitur.

Fallacy fallacy.

No business has never not passed higher taxes and tariff costs onto consumers.

Yes they have.

Your inexperience is showing.

Non-sequitur fallacy. Bulverism fallacy.

 

[Into the Night]

We already have tons of socialism in the country.

Unfortunately true. That does not mean we must expand it.

You don't seem to know what you believe in.

But I do. Argument of the Stone fallacy.

Because you're just making this shit up as you go.

Insult fallacy. Bulverism fallacy.

 

[Into the Night]

Stop being such a whiner. You obviously created this account in the last couple days because you had squandered all your credibility with whatever account you had before. Eventually, you're going to slip up and reveal who you are pretending not to be, you'll fall back into the same habits, and everyone will have a big laugh about it.

I already know that you believe in that particular conspiracy theory.

 

[Into the Night]

The Russia Tax Cut grew the deficit by 32%.

Cutting taxes creates deficits.

They figured that out in Kansas, so why are you having such a hard time figuring it out?

Argument of the Stone fallacy. Already explained.

 

[Into the Night]

So more of your bullshit "I hate government, just look at me, I hate them, look! LOOK HOW HARD I'M POSTURING!"

Yeah, we get it...you read Ayn Rand at age 13 and have been in a state of arrested development ever since.

I don't hate government. I just think they should stick to the Constitution that defines it.

 

[Sailor]

I don't hate government. I just think they should stick to the Constitution that defines it.

This is spot on. Nice. Like it.

 

[Into the Night]

LOL!

The point of America is TAXATION WITH REPRESENTATION.

No, it isn't. The point of America is self government and the recognition of individual rights. That's why the United States is organized as a federated republic.

That's why they dumped tea in Boston Harbor. They literally said "No taxation without representation".

Only a part of the overall point of America. Divisional error fallacy.

I don't think you're an American.
...deleted usual conspiracy crap...

Too bad. I am.

 

[Into the Night]

Yes it does you fucking moron.

No, it doesn't. The price of gasoline is set by price discovery, same as any other product. It doesn't matter if the oil for that gasoline is sold on the global markets.

Global demand is the entire reason they wanted to build the KXL pipeline. Even TransCanada said in their permit application that they want it so they can sell the oil for a higher price on the global markets than to the US PADD II region, which is where it currently goes and is oversupplied, leading to price discounting.

Nope. TransCanada wants to build the pipeline so they can ship oil to U.S. refineries in Texas and along the Gulf Coast. It's cheaper than the trucks and trains they currently use.

Why do you think you can fake your way through this discussion?

You keep chanting your Mantras. More and more of your posts contain nothing but repetition and insults.

 

[Adolf_Twitler]

No one expects poor people to do that. Most of us are smart enough to know they don't have money. You think they do.

I would be happy if everyone just paid a 10% tax on their incomes, be it a man, woman, or business.

If the budget was right, and everyone did that, that would be all anyone should have to do to pay for their government for it to work right.

Yep, that should do it. If 10% don't cover it, don't do it in the first place!

 

[Into the Night]

I would be happy if everyone just paid a 10% tax on their incomes, be it a man, woman, or business.

If the budget was right, and everyone did that, that would be all anyone should have to do to pay for their government for it to work right.

Yep, that should do it. If 10% don't cover it, don't do it in the first place!

The trouble with that is how do you define 'income'?

Is it your wages? Does that include the cost of getting your wages, such as transportation costs, meal costs, medical costs, housing costs, tools, books, computers?

Does it include investments? Does that include your bookkeeping costs? Your losses? Your computers and data access fees?

Does it include gambling winnings? Does that include your gambling losses?

Does it include a social security check (which you already paid taxes on, and which comes directly out of those taxes)? Does that include all the money you WON'T get back from the government you sent in as social security taxes?

Does it include corn you grew yourself? What if you sold part of it? What if you sold none of it?

Just what IS income? Even the IRS finds it has to create literally bookshelves full of laws to try to define that word.