May budget deficit hits record $207.8 billion

It always ends up being the democrats' fault.

We know the song....

 

Yes, but your simplistic terms don't reflect the problem (in my opinion). Spending is planned how much in advance? Did they take the tax cuts into consideration? Were cuts made after the tax cuts to make up for the shortfall? What does your data show?

 

Quote; They are the only ones so have produced balanced and surplus budgets or at least manageable deficits and cut spending. It's not a revenue problem we have $50B more in revenue at this point than last year.


…..and ONLY $8 billion more in revenue over the last twelve months, thus, a near ZERO revenue growth rate.

By the way, where are the double digit revenue growth rates....Reagan, Clinton, and Bush's booming economies have generated?

 

I believe he is explaining that the problem is government spending, not taxes. If so he is correct.

 

It’s both. Democrats spend too much. Republicans spend even more than democrats, and they slash revenue at the same time. It’s total fiscal incompetence.

 

You sure? He was talking about illegal immigrants which (in my mind) has nothing to do with spending or taxes in this case.
It's also possible that you have replied to the wrong post.

 

And that stops Rs how?
And why do most of their cuts go after poor and elderly?

 

Reagan, Gingrich/Kaisch, Bush. Go back to the chart I posted, revenue's up $50B over same period last year. We're at full employment, there aren't the bodies out there to fill new jobs, we have to expand through increases in productivity. To do that means investment by businesses, that means capital. That takes time. In the meantime more people working, more people paying taxes. The $10B lower corporate profit, which includes the one time accelerated appreciation, is offset by the higher excise taxes. More business activity, more transportation, more fuel taxes, more heavy duty tire taxes, more fees.

Would you suggest we increase corporate income taxes and take that capital out of the markets?

Yes it's a spending problem and we need more fiscal conservative Republicans instead of RINO's and Liberal Democrats. Are you paying attention to the HUGE spending the Democrat candidates are promising?

 

Your quote; Revenues up $50B over same period last year

True

My quote: Revenues up ONLY $8B over the last twelve months

Refute

Note: Mark my words; Come end of fiscal year, most likely, another near ZERO revenue growth rate, and a $1 trillion deficit.

-------------------

Your quote; "We don't have a revenue problem"

Once again, Reagan, Clinton, and Bush's booming economies have generated double digit revenue growth rates, whereas Trump's booming economy has generated ludicrous rates.

In other words, we currently have a revenue growth rate problem.....Refute!

 

Maybe because that’s where 90% of the federal budget is spent.

 

Apparently you haven't grasped the amount of government spending involved in illegal immigration. Spending is at the root of all government evil.

 

No doubt about it. If only voters would do something about it.

 

That is patently false, more shameless posts.

 

Go look in the mirror if you are going to be naive, Haliburton got a $10b no bid task order. Task orders cannot be challenged.

 

You want to get Democrats on board a plan that balances the budget?

Propose a plan that raises taxes on corporations and wealthy individuals or at least pass something that greatly incentivizes those individuals and companies to put their new found tax cuts back into the economy.

 

I will raise taxes dollar for dollar across the bosrdequal to across the board spending cuts based on the previous years budget

Do you understand?

And if so do you agree?

 

Well, defense is 16% of what the federal government spends.

In the “guns vs. butter” debate, I assume the other 84% is butter.

 

Maybe you should stick to the facts instead of wandering off into dream land.

 

Cite

Note: Mark my words; Come end of fiscal year, most likely, another near ZERO revenue growth rate, and a $1 trillion deficit.

-------------------

Your quote; "We don't have a revenue problem"

Once again, Reagan, Clinton, and Bush's booming economies have generated double digit revenue growth rates, whereas Trump's booming economy has generated ludicrous rates.

In other words, we currently have a revenue growth rate problem.....Refute![/QUOTE]

As I said $50B and you if want to just guess then

• FY 2020 - $3.64 trillion, budgeted.
• FY 2019 - $3.44 trillion, estimated.
• FY 2018 - $3.33 trillion.
• https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762

 

As I said $50B and you if want to just guess then

• FY 2020 - $3.64 trillion, budgeted.
• FY 2019 - $3.44 trillion, estimated.
• FY 2018 - $3.33 trillion.
• https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762

[/QUOTE]
Remember this saying; “After the full implementation of Bush’s tax cuts, we had double digit revenue growth rates”

“After the full implementation of Clinton’s/GOP’s tax cuts, we had double digit revenue growth rates”

FY 2016 Receipts; $3.27 Trillion
FY 2017; $3.32 Trillion
FY 2018; $3.33 Trillion
FY 2019 estimated; $3.44 Trillion

3 fiscal years since Trump’s inauguration, and still NO double digit revenue growth rates, thus, WTF?

 

They weren't Clinton's he opposed them.

Could be lots of things

Well what is different in that third year compared to 1998 and 2005?
How much did the one year depreciation acceleration hit revenues?
Where are we going to get growth in GDP if we can't expand the workforce because everyone is working?

Which party is more likely to keep revenues growing at all and spending more in check?

What do you think? And why haven't you addressed the spending side which is increasing faster than revenues?

 

90%, that seems like a lie — especially since almost 8% is service on the debt that trump promised to pay down.

Have a source?

 

Congratulations on turning all government evil being blamed on illegal immigrants.

 

The real reason for spending growth is mandatory spending, the very thing democrats have promised not to tackle.

Watch it grow.



And of course it will only get worse.

 

16 cents of every federal dollar spent is on the military. We can cut some there, but to make real progress on paying down the debt we’ll have to cut entitlements.