US budget deficit increases 21%, on track for biggest gap in six years

Discussion in 'Political Opinions & Beliefs' started by Lee Atwater, Aug 10, 2018.

  1. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

    Joined:
    Nov 15, 2017
    Messages:
    45,409
    Likes Received:
    26,535
    Trophy Points:
    113
    Gender:
    Male
    "The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year."

    https://www.cnbc.com/2018/08/10/--u...cent-on-track-for-biggest-gap-in-six-yea.html
    .......................................................................................................................
    Some people would view this observation as Trump Derangement Syndrome. But it's really just a recitation of the facts......as established by the Drumpf admin.

    Back in 2010 when the US and global economies were just beginning to stabilize from the Bush recession, the deficit was $1.29T. Unemployment was almost 10% so spending for UI and food stamps, actually all safety net program spending, was high......as expected......during tough economic times.

    That isn't the case now. The economy printed a tax cut induced 4.1% GDP number and unemployment is at a decades low level. Yet, Don has managed to almost match (and possibly exceed next year if the economy slows) the annual deficit when the economy was struggling.

    But hey...........a Repub is in the WH.........so deficits don't matter. It's a Trump miracle that the economy would thrive by employing deficit spending.........not.
     
  2. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

    Joined:
    Nov 15, 2017
    Messages:
    45,409
    Likes Received:
    26,535
    Trophy Points:
    113
    Gender:
    Male
  3. TrumpTrain

    TrumpTrain Banned

    Joined:
    Apr 1, 2018
    Messages:
    622
    Likes Received:
    392
    Trophy Points:
    63
    Gender:
    Male
    Horse apples. The stats are crap. They do not take into account the growth that will occur.

    Here is a fact: Obama incurred more debt than all other president combined.
     
    Dayton3 and Ddyad like this.
  4. Daniel Light

    Daniel Light Well-Known Member

    Joined:
    Mar 12, 2015
    Messages:
    31,455
    Likes Received:
    34,888
    Trophy Points:
    113
    Trump’s just doing the typical politician move of borrowing his way to better numbers ... it’s a game of musical chairs, except the party in the last seat when it all crashes down is the loser.

    Trump has filled his own swamp.
     
    Capt Nice likes this.
  5. TomFitz

    TomFitz Well-Known Member

    Joined:
    Jan 9, 2013
    Messages:
    40,413
    Likes Received:
    15,901
    Trophy Points:
    113
    Peddle the notion that tax cuts pay for themselves somewhere else.

    This has NEVER happened, and it isn't going to happen now, either.
     
    Quantum Nerd likes this.
  6. Daniel Light

    Daniel Light Well-Known Member

    Joined:
    Mar 12, 2015
    Messages:
    31,455
    Likes Received:
    34,888
    Trophy Points:
    113
    Not a fact. A lie. The debt was over 11 trillion when he took office, and he added $8.9 trillion. That sucks, but he did not spend double of the combined totals. And $200 billion of each years debt was interest payments on preceding administrations.

    Reagan added 170% to the debt.
    Clinton added 37% to the debt.
    Bush added 101% to the debt.
    Obama added 79% to the debt.

    Treasury Dept. numbers.
     
    edthecynic and Quantum Nerd like this.
  7. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

    Joined:
    Nov 15, 2017
    Messages:
    45,409
    Likes Received:
    26,535
    Trophy Points:
    113
    Gender:
    Male
    But..........you remember when he came in to office he inherited a terrible global recession Bush left behind with a $1.2T deficit for 2009 due to the housing collapse, 600K jobs a month being lost, the auto industry in dire straights, and credit markets freezing up........right? Funny how you guys seem to forget about that.
     
    Quantum Nerd likes this.
  8. Quantum Nerd

    Quantum Nerd Well-Known Member

    Joined:
    Nov 14, 2014
    Messages:
    18,029
    Likes Received:
    23,358
    Trophy Points:
    113
    They not only constantly forget about the great recession forcing some of Obama's deficits, they also conveniently forget about their fiscal hawkishness, now that Trump is president and buys economic growth with the credit card. You can tell by the lack of interest of our RW friends in this inconvenient thread.
     
  9. Questerr

    Questerr Banned

    Joined:
    Feb 6, 2007
    Messages:
    63,174
    Likes Received:
    4,995
    Trophy Points:
    113
    So did Reagan.
     
  10. spiritgide

    spiritgide Well-Known Member Past Donor

    Joined:
    Mar 25, 2016
    Messages:
    20,133
    Likes Received:
    16,080
    Trophy Points:
    113
    Gender:
    Male
    Rat
    Rather than let the smoke and flatulence of this most just drift around obnoxious and fuzzy, here's some substance.

    upload_2018-8-10_15-48-23.gif

    Gee.... seems like the picture is not quite the way this guy would have you believe. upload_2018-8-10_15-53-1.jpeg

    I think that's Lee's picture; no doubt trying to imitate Trump's hair style and hoping to impress the girls.
    Hope it works for ya!
     
    garyd likes this.
  11. 61falcon

    61falcon Well-Known Member

    Joined:
    Apr 27, 2018
    Messages:
    21,436
    Likes Received:
    12,227
    Trophy Points:
    113
    Gender:
    Male
    The CORE CPI rose 2.4% in July,the largest rise since September 2008,up from a rise of 2.3% in June.
     
  12. Sanskrit

    Sanskrit Well-Known Member

    Joined:
    Feb 12, 2014
    Messages:
    17,082
    Likes Received:
    6,711
    Trophy Points:
    113
    Let's all get onboard together for the good of the country and demand cuts in government spending! Who's with me?

    Yeah.
     
  13. ButterBalls

    ButterBalls Well-Known Member

    Joined:
    Dec 2, 2016
    Messages:
    51,205
    Likes Received:
    37,547
    Trophy Points:
    113
    Reminds me of the great Mr. Obatard years other than the "Got nothing for money burned"! Eight years and eight trillion of debt! You would think the left would be overjoyed with this sort of spending! Or is real accomplishment leaving a sour taste in their mouths :)
     
  14. ButterBalls

    ButterBalls Well-Known Member

    Joined:
    Dec 2, 2016
    Messages:
    51,205
    Likes Received:
    37,547
    Trophy Points:
    113
    Not sure of the picture but it does match the Mad Magazines ridiculous spin on current events ;)

    Spot on in my humble opinion!
     
  15. 61falcon

    61falcon Well-Known Member

    Joined:
    Apr 27, 2018
    Messages:
    21,436
    Likes Received:
    12,227
    Trophy Points:
    113
    Gender:
    Male
    Run away inflation is about to raise it's ugly head.
     
  16. edthecynic

    edthecynic Well-Known Member

    Joined:
    Aug 1, 2014
    Messages:
    3,530
    Likes Received:
    1,025
    Trophy Points:
    113
  17. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

    Joined:
    Nov 15, 2017
    Messages:
    45,409
    Likes Received:
    26,535
    Trophy Points:
    113
    Gender:
    Male
    That's the GOP playbook. Run up the deficit and then when a Dem gets elected prez demand that safety net spending be slashed. So why wait? Why not demand Don cut spending and increase taxes to bring down the debt. Oh........wait..........I know why. So Repubs can point to GDP growth while ignoring the tax cut's effect on the debt in order to garner votes.
     
    Quantum Nerd likes this.
  18. Sanskrit

    Sanskrit Well-Known Member

    Joined:
    Feb 12, 2014
    Messages:
    17,082
    Likes Received:
    6,711
    Trophy Points:
    113
    Who said anything about safety nets? let's cut ALL non SS/Medicare/Welfare spending, including defense, 50% across the board, and defund 80% of the federal government back to the states while we are at it.

    Even with the latest tax reform, middle and up taxpayers are still paying 30%+ of their entire working lives in taxes at all levels. Doing the above will get that way too high % down to 20% or less.

    Here's a list of first things to cut and send back to the states:

    https://en.wikipedia.org/wiki/List_of_federal_agencies_in_the_United_States

    I have a hunch you never read anything like this whole list. Just keep scrolling down down down down down. Half or more of the Executive Branch could be sent back to the states.

    Sound good? Or would you rather steal more and more from the taxpayers at the end of a government gun barrel so some do nothing, fat-assed, corrupt, parasitic public union rep, edu bureaucrat or government contractor can get a bigger vacation home and an even more outrageous permanent pension in exchange for the 5 hours of actual work they do a week?

    Yeah.
     
    Last edited: Aug 10, 2018
  19. kriman

    kriman Well-Known Member Past Donor

    Joined:
    Apr 29, 2018
    Messages:
    26,997
    Likes Received:
    11,048
    Trophy Points:
    113
    Gender:
    Male
    I will rephrase what you just said. Bush accumulated a deficit of $458 Billion in FY 2008 from Oct 2007 through Sept 2008. He accumulated the deficit at the rate of $38.2 billion per month And then from Oct 1, 2008 through Mid Jan 2009, he accumulated a deficit of $1,413 billion at the rate of $389 billion per month. In other words during that three and a half months Bush was in office in FY2009, he accumulated a deficit at over ten times the rate he accumulated the previous year.

    Obama on the other hand from Jan 2009 through Sept 2009 accumulated no debt whatsoever.

    Did I get that right?
     
    ronv likes this.
  20. Sandy Shanks

    Sandy Shanks Banned

    Joined:
    Jun 27, 2016
    Messages:
    26,679
    Likes Received:
    6,470
    Trophy Points:
    113
    Trump Republicans are not Republicans. They are liberals. The leader of their party was a Democrat for most of his political life.

    He loved Hillary Clinton; now he thinks she's the worst. Either Trump or his son donated to Clinton in 2002, 2005, 2006 and 2007, he invited her to his 2005 wedding in Florida, where she sat front row, and he's donated at least $100,000 to the Clinton Foundation. He was very much in favor of abortion rights before he opposed them. And he might be running as a Republican today, but he was once a registered Democrat who called for legalizing drugs, a massive one-time 14.25 percent tax on the wealthy and staying out of wars that didn't present a "direct threat" to the U.S. In many ways, he's been to the left of Clinton and even Bernie Sanders on some issues.

    Then: On "Meet The Press" in 1999, Trump said he was "very pro-choice." "I hate the concept of abortion," he said. "I hate it. I hate everything it stands for. ... but I just believe in choice."
    Now: In an interview with Bloomberg Politics in January, Trump said, "I'm pro-life and I have been pro-life." He said he believed there should be exceptions in cases of rape, incest or the life of the mother.

    Then: In Trump's 200 book "The America We Deserve," he wrote that he "generally" opposed gun control but supported an assault weapons ban and a longer waiting period to purchase a firearm.
    Now: At the 2015 NRA-ILA Leadership Forum, Trump said if he became president, "the 2nd Amendment will be totally protected." He told the Web site Ammoland he does "not support expanding background checks" and said current background checks "don't work."

    Then: In an interview with Larry King in 1999, Trump said he was "very liberal when it comes to health care" and that he believes in "universal healthcare."
    Now: During his announcement, he called Obamacare "a disaster called the big lie" and said the deductibles were so high they were "virtually useless."

    https://www.washingtonpost.com/news...ce-a-liberals-liberal/?utm_term=.ca5c175c2ca8

    Protective tariffs are a liberal concept. To protect factory workers Trump uses tariffs as a weapon against Canada, Japan, Australia, Mexico, and the 28 countries of the EU. We are in a trade war with all those nations. The latest numbers from The Trade Partnership, a DC-based economics research firm, tell us the liberal is wrong. Trump's tariffs will cost jobs, not save them. Some 400,000 jobs will be lost, with 16 losses for every job created by the tariffs, the group said.

    https://qz.com/1297697/trumps-steel-tariffs-will-cost-the-us-400000-jobs-says-economists-now/
     
  21. Moonglow

    Moonglow Well-Known Member

    Joined:
    Nov 19, 2013
    Messages:
    20,754
    Likes Received:
    8,047
    Trophy Points:
    113
    Gender:
    Male
    Winning!
     
  22. Moonglow

    Moonglow Well-Known Member

    Joined:
    Nov 19, 2013
    Messages:
    20,754
    Likes Received:
    8,047
    Trophy Points:
    113
    Gender:
    Male
    When did tariffs become the invention of liberals?
     
  23. TomFitz

    TomFitz Well-Known Member

    Joined:
    Jan 9, 2013
    Messages:
    40,413
    Likes Received:
    15,901
    Trophy Points:
    113
    I predicted this in 2008.

    I am never surprised anymore. Hypocracy is a core value in so much of right wing politics.

    Deficit hawks who suddenly don't care about deficits.

    Guys who still call liberals communists spewing Kremlin propoganda (sometimes right from the source!)

    Evangelicals who worship a thrice divorced, womanizing, lying, cheating con man.

    And that's what just comes readily to mind!
     
    AZ., opion8d and Quantum Nerd like this.
  24. Sandy Shanks

    Sandy Shanks Banned

    Joined:
    Jun 27, 2016
    Messages:
    26,679
    Likes Received:
    6,470
    Trophy Points:
    113
    From a conservative website.

    The majority of mainstream conservative movement leaders support free trade. On the other hand, tariffs and subsidies are universally harmful to the economy (more on that later), so it should be our policy to eliminate them wherever possible. The solution to this conundrum, is the free-trade treaty/agreement system we began using with NAFTA – it creates a framework for all parties involved to safely remove their tariffs & subsidies without fear of non-implementation by other parties to the treaty (similar to Reagan’s nuclear arms control treaties, but in an economic realm).

    https://www.redstate.com/diary/dcac...se-for-free-trade-and-against-protectionisim/
     
    Giftedone likes this.
  25. Quantum Nerd

    Quantum Nerd Well-Known Member

    Joined:
    Nov 14, 2014
    Messages:
    18,029
    Likes Received:
    23,358
    Trophy Points:
    113
    Yep, a lot of them are also happily receiving their monthly SS checks -- but then rail about the evil government making their lives miserable.
     
    AZ. likes this.

Share This Page