Federal deficit grows by 32% to $900B

[Leonthecat]

No he isn't you moron. Your article doesn't make that claim. The deficit is projected to be around 600 million. No where close to $1.4 trillion.

Annual budget deficits, which represent the federal government’s spending in excess of revenue, have begun to rise for the first time in seven years, dating back to 2009. President Obama inherited a deficit of $1.4 trillion when he took office at the end of the Great Recession. The first chart shows that deficits began to shrink as the economy slowly recovered. As of 2016 the shortfall has started growing again. The red ink increased $152 billion from last year, for a total projected deficit of $590 billion. This increase is also reflected in the fact that the deficit has resumed growing as a share of GDP for the first time since 2009.

https://www.mercatus.org/publications/debt-and-deficit-under-obama-administration

The White House Office of Management and Budget (OMB) released new projections on Wednesday morning showing that the federal budget deficit will hit nearly $900 billion this year, and will top $1 trillion next year.The new projections come while the Trump administration and House Republicans are mobilizing to try and get another round of tax cuts passed before November’s election — which would likely push the deficit even higher.

See the chart liar. Trump has managed to double the deficit in less than two years.

 

[TTQ64]

Not really. A lot of bubble economy exists in the real estate loans just like last time. Another biggie that people don't seem to think about much is the student loan industry. These loans can't be discharged in a bankruptcy. Something's going to have to give. It won't be pretty.

You are looking at the symptom, not the cause.

No, printing money results in higher consumer prices. The Federal Reserve results in high consumer prices.

Inventories don't 'output'. Variations of supply and demand is a normal part of any economy.

Nope. Our tariffs are in large part retaliatory of existing tariffs and subsidized products from other nations.

Have you forgotten the amount that Obama printed (practically overnight) to prevent banks 'too big to fail' from collapsing?


This is actually an excellent question. It's also the kind of question that if you ask twenty people what should be cut, you'll get twenty different answers.

In my opinion, the federal government should return to its constitutional limits. That is to say, the elimination of the EPA, the NEA, the Dept of Agriculture, the Social Security Administration, most of the FCC, most of the FAA, a good chunk of the NHA, the FHA, a fair chunk of the VA, the CPA, etc. That's just a start. As far as I'm concerned, it's not about the usefulness of any of these programs. It's about what is authorized by the Constitution of the United States.

Individual States can implement some or all of these programs themselves according to the authority granted in THEIR constitutions.

Local control is better.

LOL you aren't fooling us cawacky............

 

[Flash]

It's why the lie was started Rich wealthy racist white men came blame everything on Blacks and you suck it up.

YOU need the history lesson...... you sound like cawacky too.

You think everything is a conspiracy by rich people against blacks. I said nothing blaming blacks. I blame government policy which lenders naturally took advantage of. Blaming it on the Bush-Obama tax cuts is just partisan trash.

 

[TTQ64]

You think everything is a conspiracy by rich people against blacks. I said nothing blaming blacks. I blame government policy which lenders naturally took advantage of. Blaming it on the Bush-Obama tax cuts is just partisan trash.

You're trash for even putting bush and President Obama in the same sentence.

 

[Flash]

You're trash for even putting bush and President Obama in the same sentence.

Obama didn't extend Bush's tax cuts? He must have thought they were a good thing. People are not trash for stating facts that you dislike. You make everything about hate.

 

[cawacko]

Obama didn't extend Bush's tax cuts? He must have thought they were a good thing. People are not trash for stating facts that you dislike. You make everything about hate.

Even basic facts are now racist/trash etc. She's like a left wing version of Trump's fake news.

 

[TTQ64]

Obama didn't extend Bush's tax cuts? He must have thought they were a good thing. People are not trash for stating facts that you dislike. You make everything about hate.

Sure. it's me who makes everything about hate.

Learn you history! This country was built on hate.

 

[TTQ64]

Even basic facts are now racist/trash etc. She's like a left wing version of Trump's fake news.

I'm NOTHING like dump or his fake news.

You racist fucks need to take responsibility for how you have destroyed this country.

 

[Flash]

Sure. it's me who makes everything about hate.

Learn you history! This country was built on hate.

Maybe it's time to make a change, not continue bad habits. History is about more than atrocities and hate unless we choose to emphasize those aspects.

 

[Fentoine Lum]

Federal deficit soars 32 percent to $895B

They said the Russia Tax Cuts would pay for themselves.

Tax cuts never pay for themselves.

Never.

Ever.

Meanwhile:

The U.N. says 18.5 million Americans are in ‘extreme poverty.’ Trump’s team says just 250,000 are
https://www.washingtonpost.com/news...-by-18-million-people/?utm_term=.a8390516ff19

 

[TTQ64]

Maybe it's time to make a change, not continue bad habits. History is about more than atrocities and hate unless we choose to emphasize those aspects.

Those aspects are still happening today.

YOU can ignore history, I don't have the privilege of doing that.

When are you all going to address the issues you've caused instead of wanting us to get over it?

 

[Flash]

Those aspects are still happening today.

YOU can ignore history, I don't have the privilege of doing that.

When are you all going to address the issues you've caused instead of wanting us to get over it?

I know they are still happening today. That is why I suggested you end your hate, insults, and blame and help change those aspects rather than contributing to it.

I don't know what you mean by "issues you've caused." I think you are making unwarranted assumptions about the beliefs of others if they do not adhere to the liberal or conservative party line 100%.

 

[Into the Night]

Before the Russia Tax Cut, the deficit was 32% lower than it is now.

After the Russia Tax Cut, the deficit is 32% bigger than it was before.

Here's Kansas, showing that the repeal of Tax Cuts (SB 30) shows the budget going from deficits to surplus! But according to you, it's spending that causes deficits, even though right here is the Kansas state budget showing that it's the tax cuts that caused the deficits:

View attachment 7637

Can't argue math.

Yes I can, because you are not using math. Tax cuts are not spending. If a government cuts taxes, it must cut spending. It if cuts taxes, but does not reduce spending, it is a spending problem, not a tax cut problem. Tax cuts are not a problem.

 

[Into the Night]

What does the federal reserve have to do with the deficits and debts your tax cuts caused? Nothing.

Agreed. Tax cuts do not cause deficits and debt. Spending is the problem. not tax cuts. Borrowing is the problem, not tax cuts. Printing money is the problem, not tax cuts.

You're trying to scapegoat the Fed for the fact that your shitty economic and fiscal policies never deliver on any of the promises made of them.

The Federal Reserve is directly responsible for crashes in the economic system since the Great Depression. It is price controls on money itself. Price controls never work.

 

[Into the Night]

No they won't.

Sticking your head in the sand doesn't make the problem go away. Yes...it can happen to the United States too.

The US is the world's reserve currency for a reason.

It isn't.

 

[Into the Night]

No they're not. Just the stupid, crazy, pathetic whiners who listen to Fox News, glean shit off the posts of other dumbass right-wingers, and those who love them some infowars.

BTW - talk about a pyramid scheme! Alex Jones is the king of them. His "dietary supplements". LOL. Dude's a fat, white whale.

Bigotry is a fallacy, dude.

 

[Into the Night]

The actual amount refers to the true rate of 35% (now 21%).

The 'true rate' is current tax rate imposed by the government, including the 'loopholes'

You're a lazy piece of shit who operates exclusively in bad faith because you lack moral character.

So now you are reduced to insults. *yawn*

 

[Into the Night]

Governments don't pay tariffs, consumers do.

That's right. I never said otherwise.

 

[Into the Night]

cawacky? is this you?

You still don't fool me

No. But of course that won't convince you. *yawn*

 

[Into the Night]

I should go Fvck myself because you lie? What a bitter little socialist you are

Apparently they think I am you as well. What a bunch of conspiracy theory nutcases.