Now I know why we had a larger deficit in May

Discussion in 'Current Events' started by nopartisanbull, Jul 11, 2019.

  1. nopartisanbull

    nopartisanbull Well-Known Member

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    June deficit; $8 billion

    Wow! we almost had a surplus in June, thus, revenues are up!.....MAGA! WINNING!


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    Huuuuuuummmm, not really.....if we read Mnuchin's Monthly Treasury Statement's highlight;

    "Outlays for Military active duty and retirement, Veterans’ benefits, Supplemental Security Income, and Medicare payments to Health Maintenance Organizations and prescription drug plans accelerated into May, because June 1, 2019, the normal payment date, fell on a non-business day."

    https://fiscal.treasury.gov/files/reports-statements/mts/mts0619.pdf

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    In other words, had June 1st been a business day, then all above-mentioned expenses would have increased June outlays, thus, lower May deficit.
     
  2. Socratica

    Socratica Newly Registered

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    Largest expenditures for 2019 thus far are Social Security, National Defense, and Medicare.

    I can name a few people who may have a problem with some of these government outlays.
     
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  3. mdrobster

    mdrobster Well-Known Member

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    Ah hem...

    https://www.bloomberg.com/news/arti...idens-to-747-billion-in-9-months-through-june
     
  4. Socratica

    Socratica Newly Registered

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  5. nopartisanbull

    nopartisanbull Well-Known Member

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    June 2016 cumulative net interest; $203 billion
    June 2016 cumulative Medicare; $421 billion
    June 2016 cumulative Defence; $439
    June 2016 cumulative Social Security; $686 billion
    June 2016 cumulative other; $1.120 trillion

    June 2016 cumulative receipts; $2.469 trillion

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    June 2019 cumulative Net interest; $308 billion.....up 50%
    June 2019 cumulative Medicare; $485 billion......up 15%
    June 2019 cumulative Defence; $512 billion......up 17%
    June 2019 cumulative Social Security; $780 billion....14%
    June 2016 cumulative Other; $1.260 billion......up 12%

    June 2019 cumulative receipts; $2.609 trillion......up 5%

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

    WINNER: Interest Payments.....up 50%

    LOSER; Receipts, up 5% over three years
     
    Last edited: Jul 11, 2019
  6. cd8ed

    cd8ed Well-Known Member

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    I predict the national debt will become a huge issue for the gop in the next 2-6 years.

    Any takers?
     
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  7. JET3534

    JET3534 Well-Known Member

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    Should be a huge issue for everybody.
     
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  8. cd8ed

    cd8ed Well-Known Member

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    Should be of everyone 100% of the time irregardless of who occupies the WH.
    Unfortunately it isn’t
     
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  9. Socratica

    Socratica Newly Registered

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    No, cumulative net interest is up 50%, not interest payments.

    Cumulative net interest are interest on debt that is in aggregate (weighted average interest rate divided by the total debt). Interest payments are another thing entirely.
     
  10. The Wyrd of Gawd

    The Wyrd of Gawd Well-Known Member

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    The national debt is a Congressional problem.
     
  11. fmw

    fmw Well-Known Member

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    Social Security and Medicare are paid by recipients over their working lifetime by specific taxes. The fact that government has mismanaged these programs doesn't make them attackable. Defense is the single most important thing that federal government should be doing.

    I think defense spending can be decreased pretty substantially by using the military to defend the US rather than to defend the rest of the world from itself. But you can't say to SS and medicare recipients, sorry we mismanaged the program and you have to pay for that. The federal government has no business engaging in social programs at all but it has decided to do it any way. Work toward ending that and you will reduce the size of government by 75%. You can put social programs in state government, the private sector or the trash can.
     
  12. Moonglow

    Moonglow Well-Known Member

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    Is that why travel benefits now take four times what they used to to process?
     
  13. nopartisanbull

    nopartisanbull Well-Known Member

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    Quote: I think defense spending can be decreased pretty substantially by using the military to defend the US rather than to defend the rest of the world from itself.


    Exactly!
     
    Last edited: Jul 12, 2019
  14. Moonglow

    Moonglow Well-Known Member

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    The only time it matters to a republican is when a democrat is president or in control of Congress any other time it is of no consequence..
     
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  15. Socratica

    Socratica Newly Registered

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    If they're mismananged then they are fair game. As for Defense being the "single most important thing," I guess that is normative.

    The government can do whatever it wants with social security. It's means tested, but if there are problems, the government should adjust.
     
  16. FlamingLib

    FlamingLib Well-Known Member

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    S.S. recipients usually get more than they pay in. Medicare recipients almost always receive more than they pay in. A lot more.
     
    Last edited: Jul 12, 2019
  17. Socratica

    Socratica Newly Registered

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    Nominally, with some reinvestment, sure. In real terms, not necessarily.

    Adjusted for inflation, you'd have to live until 85 to receive the full benefit of social security. Then again, this also assumes whether or not you are a single-income earner or your income level in general.
     
  18. FlamingLib

    FlamingLib Well-Known Member

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    S.S. really isn't the problem. With some tweaks we can make it solvent for a long time. Medicare is the one that really needs to be changed.
     
  19. Socratica

    Socratica Newly Registered

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    All of the entitlements have some inherent problems that require change.
     
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  20. FlamingLib

    FlamingLib Well-Known Member

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    The problem isn't with entitlements. Germany has much more generous govt. bennies and much less debt. The problem is Americans want their goodies AND they want to be the toughest kid on the block. You can do one, but not both. Well, you can, but eventually the deficits will kill you. Guns vs butter.
     
  21. Socratica

    Socratica Newly Registered

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    This is false. You're comparing debt in aboslute terms, which makes no sense. Germany debt to GDP is 80%, the USA is 104%. That's not much less debt.

    All the while, Germany spends 10% of GDP on Pension Spending, while 8.1%. Again, not much of a difference because the difference doesn't lie in the amount of spending nor the debt. It lies in how they structure their program so only the people who need these services can receive them.

    The US government is perfectly capable of doing both because they are different resources. You're using an analogy that makes no sense.
     
  22. fmw

    fmw Well-Known Member

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    And whose fault is that? Who administers the programs? I trust you don't want to take it out on those who spent decades paying those taxes.
     
  23. fmw

    fmw Well-Known Member

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  24. nopartisanbull

    nopartisanbull Well-Known Member

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    …...needs to be reformed effective yesterday!


    [​IMG]
     
    Last edited: Jul 12, 2019
  25. Cubed

    Cubed Well-Known Member Past Donor

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    The problem I have with such a long term analysis, is that it supposes that nothing changes in terms of monetary or economic policy.
     

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