May budget deficit hits record $207.8 billion

Discussion in 'Current Events' started by FlamingLib, Jun 13, 2019 at 1:37 PM.

  1. FlamingLib

    FlamingLib Well-Known Member

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    WASHINGTON (AP) — The federal government's budget deficit in May rose to a record $207.8 billion, 41.5% higher than a year ago. Most of that increase reflected the impact of calendar quirks that shifted $55 billion in June benefit payments into May.

    The Treasury Department said Wednesday that the increase in the May deficit from an imbalance of $146.8 billion in May 2018 reflected the fact that because June 1 fell on a Saturday, benefit payments for June were paid out in May.

    Through the first eight months of this budget year, the budget deficit totals $738.6 billion, an increase of 38.8% over the same period last year. For the full year, it is expected to climb sharply, with the Trump administration forecasting it will top $1 trillion from $779 million last year.

    https://finance.yahoo.com/news/may-budget-deficit-hits-record-180025146.html

    Remember in the old days, when a car's odometer would roll back to 0 after hitting 99,999? Maybe that's Trump's plan to eliminate the debt. Just get it to $999 trillion as fast as possible.

    On another note, I can't help but notice the people who were protesting enormous deficits during Obama are conspicuously silent now. I wonder what that's about...
     
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  2. RP12

    RP12 Well-Known Member

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    Cut




    Spending....
    Spending so far this year totals $3.01 trillion, up 9.3 percent from the same period in 2018, while government receipts total $2.27 trillion, an increase of 2.3 percent.
     
    Last edited: Jun 13, 2019 at 1:41 PM
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  3. Texas Republican

    Texas Republican Well-Known Member

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    Dems have spent the people's money like drunken sailors for the last 80 years, but every time we have a Republican president, we see phony tears about deficits.
     
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  4. 61falcon

    61falcon Well-Known Member

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    Our country spent $3 Trillion in the first 8 months of fiscal 2019(October through the end of May)
     
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  5. Texas Republican

    Texas Republican Well-Known Member

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    Cut spending in half and we can pay off the debt.
     
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  6. RP12

    RP12 Well-Known Member

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    Spending so far this year totals $3.01 trillion, up 9.3 percent from the same period in 2018, while government receipts total $2.27 trillion, an increase of 2.3 percent

    Its pretty simple you cant blame tax cuts when we have more revenue we simply spend to much.
     
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  7. Andrew Jackson

    Andrew Jackson Well-Known Member

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    The GOP obviously doesn't care when an Elected IDIOT (like Trump) is spending the money.
     
  8. Lil Mike

    Lil Mike Well-Known Member

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    I'm not silent. The answer is the same now as it was then: Balanced Budget Amendment.

    Are you with me?
     
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  9. FlamingLib

    FlamingLib Well-Known Member

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    No. There are times when it makes sense to go into debt.
     
  10. struth

    struth Well-Known Member

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    The tax cuts that helped boom the economy increased revenue...if only people would get on board with cutting spending...namely entitlement reform which is the largest driver of debt. If that isn't reformed, expect more and more spending. Will the left get on board and help with the spending problem or will they simply ignore the problem and continue to toss out partisan attacks?
     
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  11. ronv

    ronv Well-Known Member

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    People that say that count funny.
     
  12. Lil Mike

    Lil Mike Well-Known Member

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    Exactly what I thought. This entire thread, including your OP is a fraud.
     
  13. hawgsalot

    hawgsalot Well-Known Member

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    As has been noted in the other thread, the calendar date is the majority of the difference and interest on the old debt is rising due to rates. Spending is up 9% and revenue up 3%, I agree it's time to start getting a handle on this but congress has zero desire to do it.
     
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  14. rahl

    rahl Well-Known Member

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    Spending this year is 100% on republicans. They owned congress and the white hues for the 2019 budget.
     
  15. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    You mean the mandatory spending the democrats have promised not to touch?
     
  16. rahl

    rahl Well-Known Member

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    Repubs have outspent Dems and increased the debt more than Dems in the past 60 years. But every time a democrat is president, we see phony tears from Repubs about deficit and debt.
     
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  17. rahl

    rahl Well-Known Member

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    Why didn’t Repubs touch them? They owned congress and the white house for 2 years.
     
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  18. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    They tried. Remember the democrat claims that Republicans just wanted to kill old people?
     
  19. rahl

    rahl Well-Known Member

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    They had total control. Dems couldn’t do a thing to stop them. Or is your excuse for republicans is that they are incompetent?
     
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  20. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Wait, is it Presidents or Congress that sets the budget. You seem to be on both sides of the coin.
     
  21. rahl

    rahl Well-Known Member

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    Where are you getting lost? Congress passes a bill, the president either signs it into law, or vetos it.

    Did I really have to explain that?
     
  22. Spooky

    Spooky Banned Donor

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    The population is increasing and as it does there are more people falling into the democratic giveaway programs.

    Of course the budget is going to go up because of that.

    Entitlements are by far the bulk of our spending.

    Outside of things like medicare and social security we are spending over 1 trillion on free giveaway programs.
     
  23. Chuck711

    Chuck711 Well-Known Member

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    Republicans cut revenues with the Tax cuts and increased spending with Total Control of Congress and Presidency

    As usual more Republican Financial Problems that a Democrat will have to solve while listening to the outrage of Republicans
     
  24. FlamingLib

    FlamingLib Well-Known Member

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    Oh, I've never claimed to care about deficits. That's YOUR guys's things. Democrats don't protest over deficits. But you guys do. And you're strangely silent now. How do you guys decide when to protest deficits? I'm curious.
     
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  25. Lil Mike

    Lil Mike Well-Known Member

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    Well for me, I'm always in favor of a balanced budget amendment, regardless of who is President. But given that you've just admitted that you don't care about deficits it kind of renders your thread moot.
     

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