US budget deficit rises to $209 billion in November

In the 2019 budget year, the government ran up a deficit of $984 billion, the most in seven years.
https://www.sandiegouniontribune.co...dget-deficit-rises-to-209-billion-in-november

Wasn't there this conservative group who used to take to the streets when these kinds of deficits happened under Obama? I wonder what happened to them.

 

But, but, the tax cuts will pay for themselves.

 

The President submitted a budget which recommended spending cuts. The purse strings are not held by the Executive Office though. The House of Representatives holds final responsibility for appropriations and spending. Voters put Democrats in charge of the House and Pelosi would not pass Trump's budget, spending less money. The final compromise to give Trump some of what he wanted was in exchange for giving Democrats some of the spending increases they wanted.

If Trump wins reelections and Republicans were to win back the House in 2020, we will see budget cuts.

 

You're making that up. He and Republicans sent the deficit soaring even when Republicans controlled the house.

Also, it would take a hell of a lot of cuts to make up for his slashing taxes on the wealthy.

 

The budget is published online. I'm all in favor of a "heck of a lot of cuts" to federal spending. My take home pay increased in a meaningful way this year and I'm nowhere close to wealthy. Almost everyone got a pay raise from the tax cuts.

 

It doesn't help to cut one part of the budget if you just raise spending in other parts ... "Ohh look, we cut spending on programs to feed the poor! Great! Now we can buy more missiles ...".

 

Deficit was mostly ~3.8 - ~4.4% of Nominal GDP. That hasn't changed very much in the last 5 years.

Majority of new taxes primarily changes the nature of real estate and mortgage interest. That benefits/affects everyone, not just the wealthy.

 

Trump's proposed budget was for a net cut in spending. He did want increases in the military budget and decreases in several other areas, but net less money spent. The Democrats would not agree to spending less. Pelosi and Treasury Secretary Steven Mnuchin spent a lot of time negotiating to come up with a two-year budget "compromise" so that we don't have another shutdown through 2020.

Democrats want to blame Trump's tax cuts for decreasing federal revenue, but then cheered about the spending increases they won through the negotiations. If my boss cut my hours then I don't get to spend more money...I have to cut the budget. Democrats are irresponsible with money.

 

When you don't have both branches of congress the deficit will be impossible to tackle. No chance to reduce the budget with the dems in the house they will never go for it with Trump. I have a feeling Trump will address during his second term when he has a Republican congress due to this idiotic impeachment.

 

After accounting for the rise in the national debt per taxpayer, how significant is your few hundred to few grand?

Meanwhile some taxpayers received tax breaks that saved them tens of billions in various taxes. They think you for being so cheap to purchase.

 

How much did they cut the first two years where they controlled both the house and the senate plus the White House?

 

https://www.thebalance.com/us-deficit-by-year-3306306

That percentage has been rising ever since Trump came into office, same as the nominal amount. It has fluctuated over the last five years, having been at a mere 2.7 and 2.4% respectively in 2014 and 2015.

None of that affects me, and obviously it's not going to affect others who aren't land owners. Likely it also has minimal effect on working class land owners, since they tend not to own land in any great value to begin with, hence they will have low interest to deal with either way.

The income tax changes do affect me, but again not significantly. They will help the wealthy a hell of a lot more than me. That's how Republicans roll.

 

That is, frankly, extremely selfish and irresponsible.

Cutting spending and taxes is a laudable objective. However, cutting taxes without cutting spending is irresponsible, even reckless.

 

I totally agree. I think that's one of the acts was to tighten the requirements of the SNAP program to ensure that able body individuals are not taking advantage of a system meant to help the truly needy.

 

Trump had control of the whole Congress for two years. Big budget cuts then?

 

I know. It's like they look at history and pretend it didn't happen ...

 

The wealthy are generally the jobs' creators. I never had a poor person sign my paycheck.

 

The budget for first year of a presidential term is determined during the final year of the previous presidential term.

 

Again, in the last five years, the deficit as a percentage of GDP hasn't changed very much.

In what ways do you expect tax cuts to help you?

 

uh, democrats were not in power for the 2019 budget, republicans were. The president has the final say on any bill that comes across his desk, absent a veto proof majority, which no budget passed under trump had. He owns, entirely, every budget he passed, and the record setting deficits that go with them.

 

republicans had both houses of congress for 2 years, and the presidency. They ran up the deficit in both years. It's what republicans do. They slash revenue and increase spending. Total fiscal incompetence.

 

The alternative to signing the budget compromise and allowing Democrats to spend more was another government shutdown. The first one didn't go to well. Republicans had to choke down the spending increases which were demanded by Pelosi's House, or it would have been "No Deal". The budget has to pass the House first.

"Barely half of the Republican majority joined almost all of the Democrats in voting for the measure, 67 to 28, after a deal largely negotiated by Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin stoked conservative dissatisfaction over Washington’s failure to cut government spending. Democrats pointed to large Republican tax cuts as the latest driver pushing the surging expansion of the federal debt and claimed victory for the increases in domestic spending." - https://www.nytimes.com/2019/08/01/us/politics/senate-budget-deficit.html

 

you are deflecting. democrats were not in power for the 2019 budget, republicans were. The president has the final say on any bill that comes across his desk, absent a veto proof majority, which no budget passed under trump had. He owns, entirely, every budget he passed, and the record setting deficits that go with them.

 

So Trump is like frugal President!
Obama on Deficits

And look at all President Trump has bough with his deficit and what Mr. Obatard could buy with trillion dollar deficits and adding 9 trillion in debt over eight years.. Stop complaining, CLEARLY it could be worst and money waisted!