Uh oh

Then be proud of him for not abusing it like Mr Obatard did Mr. Obatard would have bought everyone on welfare a Escalade, house, lobster, a dime bag and 40oz malt just for starters

 

So now you leftist admit the truth Like I say, wait long enough and the leftist will "Blurt" out Conservative claims, I must say I never tire off it LMFAO

 

Disagreed it a fait accompli. It's called being the President of the United States. Instead, he surrendered like Iraqis facing the US Army.

 

But........I thought you knew.........the deficits incurred during the first years of Obama's tenure were due to the recession he inherited..........and after the economy recovered, despite Repub sabotage, the deficits went down each year.

Now Drumpf has us on a course of higher deficits despite a strong economy due to the tax cut. So....you're FOS.

 

I DID say that, and from memory, and I did not quote it properly- there is a difference. That is, that the top 1% pay more than the bottom 90%.

With a little research you can verify it.

https://taxfoundation.org/top-1-percent-pays-more-taxes-bottom-90-percent/

AND the top 20% of taxpayers pay 95% of all tax revenue:

https://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits

Point is- our progressive taxation policy is very, very progressive; top-heavy far beyond what the average "complainer" chooses to believe. .

 

It is also a huge part of the revenue.

 

Federal income tax is higher...
https://www.mercatus.org/publicatio...101/where-does-government-get-money-it-spends

 

But..........you do understand the reason so many end up owing no federal income tax is they don't earn a very high wage in the their jobs, right? Sometimes two jobs. The tax code is written such that these low wage earners have enough disposable income to support basic needs like housing, medical expenses, and food.

 

Again what damn choice did he Have? Veto it and watch the unholy alliance pass it over his veto? Investing political capital in lost causes is retarded.

 

BWA-HA-HA-HA-HA-HA!

Wow. Your propagandists are doing a great job keeping you rubes in the dark! You are completely unaware of Trump's acceleration of debt!

Ever since the GOP has taken over Congress, they have been increasing our deficits.

And I even linked to how much Trump is spending and how big his deficits are right here in this topic! What, did you clamp your paws over your eyes or something, willfully blind monkey?

 

BWA-HA-HA-HA-HA-HA!

When Congress ran up a $666 billion deficit last year, Trump was pissed because they didn't spend MORE.

 

And it the spending damn

Dude it's CBO. They couldn't accurately predict a diarrhea stricken man taking a crap.

 

The US needs to borrow almost $300 billion this week



Trump has already shattered an Obama spending record.

Did Fox News tell you parrots about that?

Nope!

SHHHHHHH!

 

Trump and the Republicans have been ACCELERATING spending and debt!

Have your propaganda outlets been telling you willfully blind monkeys about that?

NOPE!


Trillion-dollar deficits will hit sooner than expected

As Deficit Soars Toward $1 Trillion, Congress Shrugs and Keeps Spending

 

Did your propaganda outlets tell you parrots that the Republicans and Trump removed the debt ceiling until well after the mid term elections?

Nope!


It didn’t take long for the U.S. to rack up another trillion dollars of debt

Last week, the debt hit $21 trillion for the first time, rising from the $20 trillion mark it notched on Sept. 8. The debt is guaranteed to go higher, with President Donald Trump having signed a debt-limit suspension in February, allowing unlimited borrowing through March 1, 2019.

 

https://www.cbo.gov/system/files/115th-congress-2017-2018/reports/53651-outlook.pdf

Projections of federal revenues depend on aggregate income—the total amount of income in the economy— and on the way it is distributed among various categories, such as labor income, domestic corporate profits, proprietors’ income, and interest and dividend income. CBO therefore projects income in those categories over the next 11 years, estimating each category’s share of GDP. The categories that affect revenues most strongly are labor income (especially wage and salary payments) and domestic corporate profits. Increases in U.S. borrowing from abroad imply that a greater share of domestically generated income will flow to foreign investors.

<snip>

Domestic Income Earned by Foreign Investors
Over the next 11 years, U.S. national income (the income that accrues to U.S. residents as measured by GNP) is projected to grow at a slightly slower pace than income from U.S. domestic production (as measured by GDP). GNP is a better measure of the income available to U.S. residents because it includes net international income flows—the income that U.S. residents earn from working and investing abroad minus the income that nonresidents earn from working and investing in the United States. From 2018 to 2028, net international income is projected to fall from 0.9 percent of GDP to roughly 0.4 percent. As a result, in CBO’s projections, GNP grows about 0.1 percentage point less per year than GDP grows over the 2018–2028 period.

Net international income is expected to fall over the next 11 years for two reasons. First, under current law, in CBO’s projections, the amount of net borrowing from foreigners to finance domestic investment increases, as do federal budget deficits. For all but one of the past 35 years, the United States has been a net borrower on world capital markets and thus its net international lending (national saving minus domestic investment) has been negative, on average.10 In CBO’s forecast, net international lending declines from –2.5 percent of GDP in the 2015–2017 period to an average of –3.5 percent from 2018 to 2028. The second reason is that U.S. borrowing from abroad becomes more expensive as interest rates rise in the United States.

 

https://www.cbo.gov/system/files/115th-congress-2017-2018/reports/53651-outlook.pdf

In CBO’s projections, the private domestic saving rate initially rises in response to the higher after-tax rates of return on U.S. investment resulting from the tax act. In addition, because the act boosts U.S. economic output, national income rises, and total private domestic saving grows. (However, some portion of the increased private domestic saving is used to finance increased federal borrowing, reducing the amount of saving available for private investment.) Earnings subject to deemed repatriation are expected to be used primarily to reduce corporate debt and thus to contribute only slightly to financing the increase in private investment (see Box B-1 on page 109). Meanwhile, increases in the rate of return on investment in the United States in relation to the rate in other countries will attract additional inflows of foreign saving. CBO estimates, therefore, that a substantial portion of the increase in private investment will be financed through those inflows.

The CBO does not give an 80 percent figure here, but they clearly state a "substantial portion" of the tax cut benefits will be reaped by foreign investors.

They again state foreign investors will reap the most benefit here:

The act is expected to increase GNP less than it increases GDP because it shrinks U.S. net international income (see Table B-2 on page 115).

There are two reasons for that decline in net income flows to the United States. First, the increase in foreign investment in the United States that is associated with greater private investment and increased government borrowing generates a fall in net international lending, which is national saving minus domestic investment.29 In CBO’s projections, the act decreases net international lending over the next 11 years by an average of 0.4 percent of GDP (see Figure B-5). The additional income generated by the foreign investment in the United States accrues to foreign investors.

 

not exactly no. He was unhappy because they didn't spend it where he thought and spent too much on unnecessary horse crap.

 

You've been massively hoaxed, rubes.

After whining for eight years about Obama's spending, you and your descendants are going to be saddled with even more debt. Trump is on track to beat Obama's record debts.

And remember, you held Obama accountable for every penny of debt accrued during his regime. So now all this new debt is on Trump.

Every. Penny.

 

You shouldn't be surprised, rubes.

The last time Republicans controlled Congress and the White House, they accelerated spending like drunken sailors in a whorehouse.

In the immortal words of Dubya, "Fool me once...(stare into space)...(awkward pause)...won't get fooled again."

 

Again it is cbo they can only make accurate predictions when economic growth matches their predictions which it almost never does.

 

I forgot, you guys only use CBO numbers when they say what you want them to say.

http://www.politifact.com/truth-o-m...hecking-white-house-attack-nonpartisan-cbos-/

 

It's all the poor rubes can do to defend Trump's massive deficit spending. Straw men, tu quoques, red herrings, etc.

"B-b-b-b-b-but Obaaaaaammmaaaaaaaa!"

 

Thanks for admitting in public you have no idea what I posted means.

But we already knew that.

 

I will use small words for the Rube Herd.

A great deal of the money we borrow when Trump deficit spends comes from foreign sources, including our enemies like China.

Those foreigners are going to make a profit off lending us the money that Trump is borrowing.

That means about 80 percent of the profit from the Trump tax cuts will flow to foreigners, and will depress the amount of money made here at home.