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

Hope and Change!

 

That was a Republican Congress deficit one with two many RINO's, Obama was an out of luck lame duck.

 

After the collapse of the economy because of insurmountable debt you all can set on the corner selling apples and pointing fingers what with all the spare time yous has.

 

The job numbers are very good, but this puts a wrinkle into the overall picture.

 

“Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.”—Washington, D.C., Aug. 5, 2004~GW Bush

 

The House alone controls the USG's pursestrings.

 

You are joking, which of the current Democrats running for President is going to cut spending or even restrain its growth? Which one is tauting fiscal restraint and conversatism?

 

Bush seems to have had a better understanding of the true nature of the USG's administrative structure than I would have expected.

 

The Senate and House share budget authority and either can pass spending bills first. It's bills that raise revenues House must pass first.

 

Trump has done all that he could without the approval of a responsible House of Representatives.

 

He hung around with Dad.

 

Bush mostly did the right thing during the 2000's Dot.com bust/recession/911 and we got into a full recovery, tax revenues EXPLODED and he and a Republican Congress brought the deficit down to a measly $161B FY2007 heading to surplus again. Then the Democrats took back the Congress.......................

 

I am sure we can find some comfort food also.

 

James Madison said it best.

The Federalist No. 58: “The House of Representatives cannot only refuse, but they ALONE can propose the supplies requisite for the support of the government....This power over the purse may, in fact, be regarded as the most complete and effectual weapon with which any constitution can arm the immediate representatives of the people, for obtaining a redress of every grievance, and for carrying into effect, every just and salutary measure.” (all caps mine)

 

Republican politicians generally propose less spending than Democrat politicians. Nevertheless, both party establishments now seem to be committed to massive spending to sustain our leviathan state structure.

Presidential power over spending is limited.

“Nearly a year into his takeover of Washington, President Trump has made a significant down payment on his campaign pledge to shrink the federal bureaucracy, a shift long sought by conservatives that could eventually bring the workforce down to levels not seen in decades.”
THE WASHINGTON POST, How the Trump era is changing the federal bureaucracy, By Lisa Rein and Andrew Ba Tran, December 30, 2017.
https://www.washingtonpost.com/poli...b0995360725_story.html?utm_term=.fa3d5359c73e

 

Trump supporters are very pleased with Trump's reductions in the size and power of the government.
The Deep State is not - hence this attempted coup.

"By the end of September, all Cabinet departments except Homeland Security, Veterans Affairs and Interior had fewer permanent staff than when Trump took office in January — with most shedding many hundreds of employees, according to an analysis of federal personnel data by The Washington Post.

The diminishing federal footprint comes after Trump promised in last year’s campaign to “cut so much your head will spin,” and it reverses a boost in hiring under President Barack Obama. The falloff has been driven by an exodus of civil servants, a diminished corps of political appointees and an effective hiring freeze.”
THE WASHINGTON POST, How the Trump era is changing the federal bureaucracy, By Lisa Rein and Andrew Ba Tran, December 30, 2017.
https://www.washingtonpost.com/poli...b0995360725_story.html?utm_term=.fa3d5359c73e

 

Really, then where is the money going from the reduced budgets from the reduction? And why are deficits and debt increasing if the govt. is shrinking?

 

You need to recheck your numbers.

 

I wasn’t replying to any post about ‘08 or ‘09. I was replying to a post that claimed Obama didn’t have any trillion dollar deficit after ‘12

 

The DP House never needs any help from Trump to reduce spending, balance the budget and eliminate the deficit.

 

Cut federal spending 10% across the board.

 

We'd never have a budget problem if we only had presidents with a business background. No more career lawyer/politicians.

 

This is from ustreasury.gov, but you can do the math and see for yourself.

• al Debt Outstanding

Historical Debt Outstanding - Annual 2000 - 2018
Includes legal tender notes, gold and silver certificates, etc.

The first fiscal year for the U.S. Government started Jan. 1, 1789. Congress changed the beginning of the fiscal year from Jan. 1 to Jul. 1 in 1842, and finally from Jul. 1 to Oct. 1 in 1977 where it remains today.

To find more historical information, visit The Public Debt Historical Information archives.

Date Dollar Amount
09/30/2019.........22,719,401,753,433.78
09/30/2018........ 21,516,058,183,180.23
09/30/2017........ 20,244,900,016,053.51
09/30/2016.........19,573,444,713,936.79
09/30/2015.........18,150,617,666,484.33
09/30/2014.........17,824,071,380,733.82
09/30/2013.........16,738,183,526,697.32
09/30/2012.........16,066,241,407,385.89
09/30/2011.........14,790,340,328,557.15
09/30/2010.........13,561,623,030,891.79
09/30/2009.........11,909,829,003,511.75
09/30/2008 10,024,724,896,912.49
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86
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• Principal/Interest Graphs
• FAQ

 

It hasn't been 8 years yet. I know you might find this crazy, but think he will eliminate the debt. Come back in 5 years.

 

To preface, I don't like this practice of spending more than we have, thats been SOP for decades.

But its worth considering this is how almost the entire world operates. Not doing so would render us non-competitive in the global marketplace.

Additionally, most of this debt (2/3 last time I checked) is money the govt owes to its citizens in the form of bonds, securities, pensions, etc. This is 'good debt' imo, as it essentially representa Americans investing in America.

The other 1/3 is owed to foreign entities, and imo is bad debt, and we should be seeking to reduce it.

The final point is that this bad debt owed to foreign entities is continually being traded, credited, moved around from one holder to the next. Eventually the bubble WILL burst, and whoever is left holding more will be ruined, while whoever is holding less (but has been benefitting from it) will be in a strong position. Some entities (nations, corporations) will be holding worthless debt, and others will be holding useful assets like infrastructure and materials. This debt is essentially a weapon. The bigger participants in the scheme have more leverage to influence when that bubble burst and who gets hit harder by it. We're already involved, 'playing the game' and we're not gonna get out before it hits. So we have to keep playing and try to win. ..which sucks, as the longer the game goes, the worse the collapse will be (for everyone). The only way its gets worse is to try to stop playing.

If this weapon was designed, it was by a Fing diabolically evil genius.