"Budget deficit to break $1 trillion despite strong economy"

"Budget deficit to break $1 trillion despite strong economy"
https://apnews.com/e37387f5157a90b95d775afe7ca67fdd

"Federal deficit to top $1 trillion under Trump"
https://www.politico.com/news/2020/0...n-trump-107901

"Deficits projected at $1.3 trillion through 2030"
https://thehill.com/policy/finance/4...rough-2030-cbo

"U.S. National Debt Will Rise to 98% of GDP by 2030"
https://www.wsj.com/articles/u-s-nat...ts-11580238089

Correct me if I am wrong, but didn't Trump promise he would eliminate the national debt in eight years? And wasn't fiscal conservatism, balanced budgets, concerns over deficits and debt, suppose to be major principles of conservatism?

Weren't we told that the Tax Cut and Jobs Act would pay for itself, and grow the economy four to six percent annually? That discretionary spending would decrease, and lessen burdensome deficits?

And all this is occuring during a good economy, Obama faced a historical recessions but even his budget never climbed above a trillion a year after 2012. What happens if we do incur a serious recession in the immediate future?

In other words, Trump is the epitome of the exact opposite of what fiscal conservatism is suppose to represent, yet, nothing from the right, they crucified Obama yet nothing today, guess conservative values depend upon who resides at 1600 Pennsylvania Avenue

 

Yeah, Trump has dropped the ball in this area of the economy, it needs to be addressed.

 

They also want to spend zillions of dollars on free stuff for everyone and anyone who makes it to America.

 

If you think the debt is bad now (and it is), imagine how much worse it would be with a Dem president.

While we're on the topic of debt and waste, I wonder how much money we've wasted on this impeachment sham?

 

Wanting to spend and spending are two different things, and Trump is spending, at the tune of a trillion more than he has to spend, so don't give us a "whataboutism" when your man is close to setting records in a good economy no less

 

Wouldn't be worse, Obama had actually cut discretionary spending his last four years, and no Democrat would have approved hand outs via tax cuts to corporations or the top ten percent

 

Well theoretically that's not correct, the interest payment Trump inherited was like 500 plus billion alone. Can't blame Trump for that one but yes it needs to be handled and no way the dem house will in anyway allow one single significant cut so it's a mute point until they are replaced with republicans.

 

I actually agree with this 110%. However, new economies rely on debt. Unfortunately, the US is taking a page from European economies with high debt.

 

Really? Trump doubled Obama's last deficit. So, how is it again that Dems are worse for the debt?

 

So you’re saying that 2014 & 2016 came before 2012? You must be using that new liberal left calendar. Obama nearly doubled the deficit. And the 2018 budget was set under Obama even though Trump was president.


Barack Obama: Added $8.588 trillion, a 74% increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.

• FY 2018 - $1.271 trillion
  
  
• FY 2017 - $671 billion

• FY 2016 - $1.423 trillion
• FY 2015 - $327 billion
• FY 2014 - $1.086 trillion
• FY 2013 - $672 billion
• FY 2012 - $1.276 trillion
• FY 2011 - $1.229 trillion
• FY 2010 - $1.652 trillion

 

Trump's $500 billion annual deficit spending, on top of Obama's last $500 billion deficit, essentially amounts to 2.5% GDP. That tells you what GDP growth would be without the deficit spending injected into the economy -- negative. We'd probably already be in a recession.

Of course, every single recent president, except Clinton, has used deficit spending for short term gain. At least Obama had a reason for it, to dig us out of debt deflation. Trump? No reason at all.

 

Trump is knee deep in the blame for this happening.

He has failed the nation on spending. 1/10
There is no "saving grace" for him on this issue, but the Democrats are just as involved. We need some serious fiscal Conservatives regardless of party to deal with this lunacy.

 

How does "new economies rely on debt?" Regardless, it is still sovereign debt

 

You've not heard of debt based economics?

 

What was that guy's name that ran up a deficit larger than all previous presidents combined? I just can't recall, Obugur or something like that.

 

As long as Americans fight with each other, our government can get away with spending like thieves with a stolen credit card. So far, rewarding irresponsibility hasn't worked.

 

You're looking to the wrong place. You gotta look to Congress and until we elect more fiscal conservatives instead of Democrats and RINO's spending and deficits are going to be much on an issue there. Do tell me which of the Democrats running for the nomination are going to cut spending and bring some fiscal order? Can we expect the Democrats in the House to cut spending and bring some fiscal sanity?

 

It was the Democrat Congress of which he was a full voting member and gave them the added push when he moved to the White House. In 2007 the last Republican deficit before that the deficit was a paltry $161B after the recovery from the 2001 Recession/Dot.Com Bust/911

 

Yep. Anyone with half a brain knows that.

Those of us with a full brain know that it is unlikely H Clinton would have let the deficit explode the way Trump has.

 

Obama did it and the money didn't do anything. Until we get fiscal conservatives back into Congress to cut the uncontrolled automatic spending increases and start eliminating unneeded and wasted spending and keep on with the Trump economic policies to keep full employment and rising incomes, where tax dollars come from, it's not going to change.

Trump has proposed an across the board departmental cuts and that went over with a thud. Get a fiscally conservative Congress and then we might see something.

 

Really and what would she have done, what spending would she have cut and what Congress would have passed it?

 

You also have to hold people accountable for insane batshit crazy stuff like promising to eliminate the deficit and then exploding it during a time of supposed prosperity.

 

And then revenues would be worse and the economy not what it is. It's not a revenue problem it's unrestrained spending increases and the levels at which spending is and that goes back to the the 2007-2011 Congress which sent it up there with their huge expansion of welfare and government subsistence and support payments.

 

MAGA!

 

Go back add FY 2008 and FY 2009 those were Democrat budgets, budgets are the sole properties of Presidents, Congress controls the budget not the President.